Working with an NPO I need to track the sale of artwork from a specific artist, how do you do this? Is the sale of art by an NPO subject to GST?

Answer

Hi stopattheoffice,

We love having non-profit organizations as part of the QuickBooks family! Thanks for joining us. :)

I can lend a hand with tracking sales for the artwork from a specific artist. Based on your question, it sounds like you're selling the artwork on behalf of the artist. There are a couple of ways you can do it. You can either set up the artist as a supplier and attach them to the artwork in your inventory as a preferred supplier or you can simply set up the artwork as an item of inventory and include the artist's name in the item name to track it. Whatever's easiest for you.

I have a couple of links for you to get started with inventory.

How to set up Inventory and tracking: https://community.intuit.com/articles/1771923
Inventory links and resources
: https://community.intuit.com/articles/1763600

Now, here's how you'd handle the first scenario I mentioned above.

Set up the artist as a supplier

  1. Hover over the Expenses tab in the left menu and select Suppliers.
  2. Click New Supplier.
  3. Fill out the form to reflect the artist's information. You don't need to fill out every field.
  4. Save.

Add them as a preferred supplier on an inventory item

  1. Hover over the Sales tab and choose Products and Services.
  2. Select New.
  3. Select Inventory.
  4. Set up the item as desired.
  5. Scroll to the Purchasing information section.
  6. Under Preferred Supplier, choose the one you created for the artist.
  7. Save and close.

Whichever method you choose, you can customize reports to show the information you'd like, such as specific pieces of art and so forth. Here are a couple more articles for you, this time about reports.

Run Reports: https://community.intuit.com/articles/1761103
Customize reports
: https://community.intuit.com/articles/1769081

If you're still feeling uncertain, reaching out to an accountant is the best way determine how to track this information for your organization. If you don't have one already, this link will help you find one who's also familiar with QuickBooks Online: https://quickbooks.intuit.com/ca/find-an-accountant/

As for the sales tax side of things, I recommend touching base with Canada Revenue Agency. Knowing what to track and how is an important part of any business, non-profit or otherwise, so I want to make sure we get things right. I found a page on the CRA website about NPOs and sales tax. I'll link it here so you can take a look.

GST/HST information for Non-Profit Organizations: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/rc4081/gst-hst-info...

I hope that helps! I know I've given you a lot. Don't be afraid to ask additional questions about anything I've mentioned. I'm here if you need anything.

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IntuitLauraB , Community Support Specialist
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