A studio's books are off until its owner turns them on, and nothing about sourcing, presenting or ordering changes when they are. Once on, money movement posts itself: a payment recorded on an order, goods received against it, a design fee earned on a project. Sign-off stamps a priced snapshot of each item so revenue and cost are recorded at the figures the client signed, never recomputed later. Every figure is integer cents; every correction is a new entry that names what it corrects.
What it will do
- Turn books on for the studio from Settings, with nothing else changing
- State payment terms on each purchase order, inherited from the vendor
- Record goods received per component; an order reads delivered when every line is in
- Record a payment to a vendor and apply it across the order's lines
- Set a project's design fee and record what has been earned against the retainer
- Close and reopen monthly periods, with a reason kept on the studio's record
- Post opening balances once, as of the day the books began
What it won't do
- Statements are kept on an accrual basis and disclosed as such: not a tax return, not a substitute for the studio's accountant
- Client payments and retainers are recorded by hand, not collected: no processor, no bank feed
- Books are per studio, not per project, and turn on for the whole studio at once
Questions this page answers
- Does Wellsourced keep books for my studio?
- Can I record a payment to a vendor?
- How do I record a design fee I've earned?
- Can I close a month?
- How do I bring in my current balances?
- Does it replace my accountant's software?
Every feature is included in the seat — nothing here is an add-on.