Artwork Archive's Revenue and Expenses feature allows you to track income and expenses related to your art collection. This helps you understand the true cost of your collection and manage it effectively.
Tracking Finances:
Expense Tracking
Record general expenses and expenses for specific artworks
Log costs for shipping, framing, installation, lighting, fabrication, photography, and marketing
Gain insights into spending categories and generate one-click expense reports
Track commission distributions and payments to artists
Revenue Tracking
Register sales and track other revenue types like rentals, merchandise, and grants
Did you know?
Sales recording is covered in a separate tutorial here.
Adding a Revenue or Expense Item:
Navigate to Income in the left-side menu.
Select the Revenue/Expenses tab under Income.
Click + New Item at the top of the page.
Choose Expense or Other Revenue.
Enter a Short Description, Amount, Memo, and select a Category
If the expense is related to a specific Piece, select the Piece.
[Optional] Select or create a Contact for the payee.
Click Save.
Editing a Revenue or Expense Item:
Navigate to Income in the left-side menu.
Select the Revenue/Expenses tab under Income.
Locate the item you'd like to edit.
Click the blue Action text to the right of the item.
Click Edit from the drop-down menu.
Alternatively, you can also click the item's title and then Edit.
Update the information you'd like to change.
Click Save.
Adding 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, you can!
Click Income > Revenue/Expenses.
Select the item's title or View from the Action menu.
Scroll to the Additional Files section.
Click Add File.
Choose a file, enter a name and notes.
Click Save File.
Deleting a Revenue or Expense Item:
Click Income > Revenue/Expenses.
Click the blue Action text next to the item.
Select Delete from the drop-down menu.
Alternatively, click the item's title and then Delete.
Creating an Expense for an Individual Artwork:
Open the Piece record.
Scroll to the Expenses section in the bottom right.
Click New Expense.
Enter details.
Click Save.
The Expense will appear on the artwork record and in the comprehensive list under Income.
Viewing, Filtering, Sorting, and Searching Expenses:
View all expenses under the Income tab.
Filter expenses by Date, Type, Category, and Payer/Payee.
Sort expenses by Date, Description, or Amount.
Search for expenses using the search bar at the top of the Revenue/Expenses page.
