If you have generated an invoice that had the status 'Stock' in its Financial tab but it was actually on consignment to you, you'll need to make an edit so that you can pull through the consignment percentage or value due to the gallery into the Accounts section. This guide explains the steps to take to resolve this.
You'll know if this issue is related to you as you'll receive the following warning message in your invoice: 'This item is listed as 'Stock' but has a consignment percentage entered'?
Overview
Artworks have to have the status On consignment, rather than Stock, when sold in order for the percentage/ value split between the consignor and the gallery to work.
In order to resolve this, you'll need to change the artwork's status. In situations where a sale has been made and the invoice generated, it will be necessary to change the artwork record's status so the pre-sale status ('previous_status') field is changed to On consignment.
There is a specific route to take if this has happened to you. The steps are outlined below.
Steps
- Find the artwork involved in the sale.
- Change the status from Ex-inventory - sold to On consignment - Available.
- Make sure there is an entered percentage split or value split.
Records that are set to the status 'Stock' may have been inadvertently set to 100% to the gallery by default.
For example:
- Save the artwork record.
- Then, in the same artwork record, change the status back to Ex-inventory/sold.
- Save the artwork again.
- Head back to the invoice in which the artwork has been sold and Regenerate it via Action > Regenerate sales invoice.
Alternatively...
If this artwork record was indeed Stock but you are receiving this warning message, simply edit the record to remove the consignment percentage.