Hello there, @Voltinator.
Thanks for sharing your concern in the community. To record the fees covered by the artists, you can use the Journal Entry feature to clear balances from last year (2020).
Here's how:
- Select the + New menu, then select Journal entry.
- On the first line, select an account from the Account field. Depending on if you need to debit or credit the account, enter the amount in the correct column.
- On the next line, select the other account you're moving money to or from. Depending on if you entered a debit or credit on the first line, enter the same amount in the opposite column.
- Check the amounts - you should have the same amount in the Credit column on one line and the Debit column on the other. This means the accounts are in balance.
- Enter information in the memo section so you know why you made the journal entry, then click Save and new or Save and close.
To make sure your books are accurate, it would best to seek an expert's advice from an accountant to properly record the offset.
I'm always here anytime you need additional help. Have a great day ahead.