So much goes into the care, management and exhibiting of your art collection. With Artwork Archive's Revenue and Expenses you can track both income (from sales, services, fees, etc.) and expenses paid for maintaining, showcasing, and managing your art collection.
With Expense tracking, you'll understand the true cost of your art collection. Record general expenses as well as expenses for a particular artwork. Log shipping, framing, installation and lighting for an artwork. Note the cost of fabricating an exhibition and the cost of the photography and marketing materials. Gain insight into how much you are spending in certain categories and get one-click expense reports with the expense tracking tool.
You also have a better way to track commission distribution. You can track payments to artists and never question whether or not you paid the artist and when.
With Revenue tracking, you can register sales and track other Revenue types like rentals, merchandise, grants, etc.
This Help Doc does not outline the recording of Sales. To learn more about registering sales check out this tutorial.
How to add a Revenue or Expense item:
Click on Income in the left-side menu and select Revenue/Expenses underneath. Click on + New Item in the top menu, and then choose Expense or Other Revenue from the drop-down menu.
Type in a Short Description, Amount, and Memo. From the Category drop-down menu, select the type of expense or revenue. If desired, record who the payment was for or from by selecting a current Contact from the drop-down menu.
Then click the blue Save button at the bottom to save your Expense or Revenue item.
How to edit a Revenue or Expense item:
Click on Income in the left-side menu, and select Revenue/Expenses underneath. On the right side of the Expense or Revenue item you'd like to edit, click on Action in blue and then select Edit from the drop-down menu.
Or, click on the blue title of the expense/revenue under the Description column and click Edit in the top-hand menu of the individual item. After you have finished editing, click the blue Save button at the bottom.
How to add additional files to a Revenue or Expense item:
If you'd like to attach a copy of the receipt or another important document pertaining to an expense, click on Income in the left-hand menu. Click on the blue title of the expense under Description or select View in from the Action dropdown on the right-hand side of the expense.
Next to Additional Files at the bottom, select Add File. A box will appear where you can click on the Choose File button to upload a file, enter a file name and any notes you'd like to add. Click the blue Save File button.
How to delete a Revenue or Expense item:
Click on Income in the left-hand menu. On the right-hand side of the item you'd like to delete, click on Action and then Delete in blue.
Or, click on the blue title of the Expense under the Description column, then click Delete in top menu.
How to create an Expense for an individual artwork record:
Click into the piece. Scroll down to Expenses (located on the righthand side of your screen). Click New Expense. Enter the necessary details. Click the blue Save button. You'll see the Expense on the artwork record and in your comprehensive Expenses list from the Income tab.
How to view Expenses:
Click on Income in the left-hand menu to view all of your added Expenses. To view a specific expense, click on the blue title of the expense under the Description column. Or, select Actions to the right of the expense and click on View from the drop-down menu.
How to filter Expenses:
To view certain categories of Expenses, click on Income in the left-side menu, then select Revenue/Expenses underneath. From the Filter menu at the top, you can filter expenses based on Date, Type, Category, and Payer/Payee.
How to sort Expenses:
To view your Expenses in a certain order, click on Income in the left-side menu, then select Revenue/Expenses underneath. Click on Sort in the top right-hand corner. From the drop-down menu, choose to sort by Date (new or old), Description (a-z or z-a), or Amount (high or low).
How to search for an expense:
To search for a specific expense in your records, click on Income in the left-side menu, then select Revenue/Expenses underneath. In the search bar at the top, type in the name or description of the expense.