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Add consignee calculated

welcome to our base 11 in this video we will review our base 11 consignor payables let's begin with what two payable are patient lovin can help you track payables for your inventory from consignment to invoice to the statement when you can sign a new work from its owner or share ownership of a work payables allow you to track what you owe once the work has been sold for details and payables for works consign directly from artist check out our art base 11 artists payables video if you've consigned to work in from another gallery or collector we recommend using the source field find the source field on the financials tab in the confined in work click on the source and then choose add contact link to link this work to its source the container use the quick find to select the consignor and then choose add payable keep in mind that over here under the payables cab if you need to manually add a payable you can do so just by clicking new payable once you've created a payable record you can enter the payable amount occasionally there's an arrangement that's made to pay the container or partner a specific amount but most often they receive a set percentage of the selling price you can enter the percentage here our base 11 will automatically calculate the projected net do before work is sold the net do is calculated based on the works retail price which is entered here once the work becomes invoiced the net do automatically switches to be based on the selling price if you'd like the net do to always be calculated based on the retail even after the work is sold click the blue dot here for Advanced Options and then here you can choose to have it based on retail or the sold for amount you can have all future payable records default to always use retail in the settings file in the accounting and payables area this is for just a single one off also remember at any time you can choose to enter a flat amount to override the calculation other things that you can see in the advanced popover if you can set foreign options for currency payables our base 11 will total the additional costs the expected net to you and that net minus the additional costs marked as paid to the gallery when calculating the net do on works confined from their artists are based 11 takes into consideration additional costs for more on this be sure to watch the art base 11 payables video now let's look at a let's look at a work that has sold once the work has been sold you can also view the payable record on the invoice form go to the invoice come to the payables can hear you can always update the flat amount if the calculation does not meet your expectations you are now ready to learn how to make a payable statement to do this you are our base 11 payable statements video you could also choose to review the Art Basel of an artist payables video to learn about other types of panels