Stock record acquistion methods

There are four different ways in which artwork can enter the gallery, these are:

1. Purchased

The gallery buys the piece of artwork.

• Tax on acquisition – if the supplier is VAT registered, you will need to change this to Standard which will show 20% VAT
• Acquisition price – this shows how much the gallery have paid for the artwork

Once you have entered these details, click on Save to generate metrics and enable the Purchase Order button.

• Metrics – this shows a breakdown of the monies retained, tax due and amount to supplier should the artwork be sold
• Purchase Order button – this will generate a report in a new window for you to print/email for the supplier

2. Consigned

The artist sells the artwork through your gallery at either a fixed rate or a commission. Enter an amount for either Fixed priced to supplier or Commission charge to supplier. This will be whatever is normal gallery practice.

Save the information in order for the Consignment note and Return to owner buttons to become available. The Consignment note will give confirmation of consignment for the supplier. The Return to owner button will change the acquisition type to Noted and show that the artwork has returned to the supplier.

3. Loaned

The artwork is loaned to the gallery for a specified time period. Once the artwork is returned, click on the Return to owner button (may need to save first) to change the acquisition status to Noted.

4. Noted

The artwork is no longer in the gallery, it has been returned to the owner.