Bookkeeping for art gallary
I'm starting an art gallery bookkeeping with QB and would like to know if there is a way to enter art, artists commission and our commission upon receipt and then sales of the artwork
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bixiga8p8r35ZHacfA8pyY
11/15/10 1:29pm PST
Viewed by asker 03/16/11 11:36am PDT
Viewed by asker 03/16/11 11:36am PDT
4 Replies
radicalaccountin
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12/09/10 12:25am PST
Basically it works because you setup a list of items, each one doing a certain thing, and then create an item group for the invoice and payment check so that everyone gets their cut upon sale of product.
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12/10/10 2:30pm PST
I guess thanks but no thanks for not answering. I'm sorry you are out soliciting work by "NOT" answering questions that are important to those of us that post them. I would love to take the certification tests but can NOT afford at present time and am just starting my career.
03/11/11 7:20pm PST
YES.
1. create an inventory number that identify's the art piece. inventory number is to be used only if you purchased the art work. if it is on consignment, is to be entered only when you create a sale invoice.[when the item is sold]
2. To create a liability, which is the portion due to the artist. The liability to the artist is created at the the time of when you created the sale invoice. It is recommendation that you use the same identification number used on the sale invoice. In other words your payable & receivable uses the same identification code. It helps at a later date when you want to see if you received payment and if you paid the artist. NOTE the artist always gets paid after your received your payment for the art work.
3. reminder always use your inventory list
If you need more detail in your inventory, I recommend the program "artsystems"
03/16/11 1:14am PDT
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I respectfully disagree (violently disagree) There is no reason to track unique items as inventory, it creates incredible hardship in data entry and in tax returns. Do you have some interest in the "artsystems" program, which is why you're recommending using inventory?
