Click on Financial to open the Financial Pane of the Edition record.
The Financial Pane helps users track Values, Value History, and Expenses.
Current Values and Value History
Scrolling down on the Financial Pane, Users will see 6 fields for Current Values and below that, a grid for Value History. All databases have Retail, Insurance, and Appraisal Value fields plus 3 additional User Value fields that may be renamed to track any particular type of value of interest. In the example below User1Value was renamed to 'FMV' (Fair Market Value). Since Works has identical User Values fields to rename User Value fields SEE Works Module Settings: User Value Fields.
The Current Values will always show the most recent values and the Value History grid below tracks past values. NOTE: All new values added will be entered into the Value History grid.
Note also that Users can track other currencies in the grid, but the Home Currency will appear in the Current Value fields. Scroll to the right to see Home Currency Fields.
To Add A Value:
- Select the Type of Value to add: Click in the Type column on the first available line in the Value History Section, and select the desired type of value to add (Retail, Insurance, Appraisal or any customized User Value).
- Add the Value Date: Click in the Date column and the data entry date will appear, adjust the date if necessary to an earlier date, by typing over the date displayed.
- Enter the Alternate Currency if needed: Click in the Currency field to select the desired currency from the drop-down list, then click to add the Currency Rate field.
- Enter the value amount in the Value column.
- Add any comments as needed in the Notes column.
- The most recently added Value will appear in the Current Value Section (upper section of the grid). These are the Values which will generate on your standard A5Artsystems reports.
The primary function of the Editions Expense Information is to document all expenses associated with a particular Edition. Expenses may include costs associated with shipping, framing, restoration, photography, etc. The Expense Information records both Amount (total amount of the expense) and Incurred Amount (amount which you incurred) of the expense. In cases where another party incurs the expense, add the amount only in amount column (see first entry on image above).
Incurred Expenses added on the Expense grid are added to the Calculated Net (Calculated Net appears on the Financial Pane, in order to show the overall costs associated with a Work. Incurred Expenses will also affect Net due to Consignor.
To Add An Expense:
- Add the Expense Type: In Works, on the Expense grid, click in the Expense column on the first available line in the view and select the desired Expense Type from the drop-down list. If this is a new Expense Type, click once in the Expense column to open edit mode and type the new Expense Type directly into the field, then click the TAB key. Click YES to the prompt asking if you want to save the entry to the Expense Types list? If it is possible that this type will never be used again, it is OK to click NO.
- Add the Expense Date: Click once in the Date column and the date of entry will appear, if a different expense date is desired, edit the date as needed.
- Add the Expense Contact: Expense Contact is linked to the Contacts Module. Click in the Expense Contact field and click the Eye icon to open the Contact Selection List. Search to find the Contact, and click OK. If the Expense Contact is not in the list, click the Add New button to add a new Contact.
- Enter the full Amount: Enter the full value amount of the expense in the Amount column.
- Enter the Amount Incurred: Enter the value amount your gallery incurred in the Incurred column. If the expense is split with a partner, enter half the amount into Incurred. If no expense was incurred, leave the Incurred field blank.