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. If you have generated an invoice for an artwork record that has the status Stock in its Financial tab when it is actually On consignment to you, you'll need to make an edit in order to pull through the consignment percentage or value due to the gallery into the Accounts section.
You will know if this issue is related to you when you receive the following warning message in your invoice: This item is listed as 'Stock' but has a consignment percentage entered
How to add the correct percentage split in a generated invoice for an artwork sold as 'stock' but it should be 'on consignment'
In order to resolve this, you will 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 record involved in the invoice.
- Go to the Financial tab and change the status from Ex-inventory - sold to On consignment - Available.
- Make sure you have entered a percentage split or value split.
Records that are set to the status Stock may have been 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.
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Save the artwork again.
You should now see the record's pre-sale status change to On consignment. - Head back to the invoice in which the artwork has been sold and Regenerate it via Action > Regenerate sales invoice.