Expenses
Auction Flex allows you to add expenses to auction items. Expenses are charged to the consignor prior to payment. To add an expense to every item or consignor in the auction, follow these steps.
1. On the Easy Navigator screen (or Navigator toolbar), click the Auction Setup button.
2. If you have already created an auction, use the navigation buttons at the bottom of the Auction Setup Maintenance box.
OR, if you have not already created an auction, click the Create A New Auction (green plus sign icon) button at the bottom of the Auction Setup Maintenance box.
3. Click the Expenses button.
4. Choose either the Consignor Expenses (Not Item Specific) or Item Specific Expenses tab, as appropriate.
5. Click the Add Batched Expenses button.
6. Enter information in the Add Batched Expenses box.
Date – Confirm or change the date of the expense.
Expense Description – Enter a description of the expense.
Source – This field allows you to direct the expense towards consigned items, purchased items, or both.
Clerk Status – This field enables you to choose the bid status for the items.
Inventory Type – This field allows you to assign expenses to a particular inventory type.
Tax Status 1 and Tax Status 2 – These fields allow you to filter items based on various tax-related options.
Expense Type – This field enables the creation of either fixed (whole dollar amount) expenses, expenses based on a percentage of sale, or to each individual record.
Amount – Enter the dollar or percentage amount for the expense.
Distribution Method – This field offers several ways to assign expenses. For example, pro-rated based on specific criteria, distributed evenly over all records, or distributed to each record.
Detailed Or Summary – This selection determines whether an expense is displayed for each individual item on the CO Balance Detail or is summarized as a whole amount at the end of the Balance Detail report.
Quick Settings – Use these options to save and quickly load any expenses that will be used on a repeat basis.
7. When you are done entering information, click the Go button. If necessary, return to step 4 and repeat the steps to create as many separate expenses as needed. For example, there may be repeat expenses such as Image Fee, Insurance, or Advertising.
8. Click the In-House Expenditures tab if you need to record any expenses that you incurred for the auction. Auction house expenses such as labor and rent can be tracked here. Click the Add button; enter the amount, expense description, and correct auction; and then click the OK button.
You will be able to view your In-House Expenditures via the Auction Summary box.
