How to Apply Seller Expenses & Credits to Seller Settlements 

What Is a Seller Expense?

A Seller Expense is a cost that the seller is responsible for paying. Seller Expenses can be applied either to an individual lot or to the Seller Settlement as a whole, depending on what the expense is for.

Examples of Seller Expenses

Expense applied to the entire Seller Settlement:
A seller asks the auction house to run a Facebook ad promoting all of their items. Because the advertising expense applies to the seller's entire consignment, the expense can be added to the overall Seller Settlement.

Expense applied to an individual lot:
A seller brings a vehicle to the auction house that requires a deep cleaning before it can be sold. If the seller is responsible for the cleaning cost, that expense can be applied directly to the applicable vehicle/lot.

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Adding Seller Expenses

Seller Expenses can be added in several ways, depending on whether the expense applies to individual lots or the entire Seller Settlement.

Option 1: Add an Expense Through the Accounting Tab

To add an expense to an individual lot:

1. Navigate to the auction's Accounting tab.
2. Locate the applicable lot.
3. Click the blue pencil icon.
4. Enter the expense description and amount.
5. If the lot has multiple expenses, click Add Lot Expense to add additional expenses.

There is no limit to the number of expenses that can be added to an individual lot. Expenses can also be deleted from this area if needed.

Lot-level expenses will appear directly underneath the applicable lot on the Seller Settlement.

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Option 2: Add Lot Expenses in Bulk

Seller Expenses can also be applied to individual lots using the Bulk Upload Template.

1. Download the Bulk Upload Template.
2. Enter the applicable expense information in the appropriate columns.
3. Re-upload the completed file.
4. The expenses will be applied to the applicable lots.

 

Important: Up to two Seller Expenses per lot can be added using the Bulk Upload Template.

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Option 3: Add a Lot Expense From the Seller Settlement

You can also add expenses directly to individual lots from the Seller Settlement:

1. Navigate to the applicable Seller Settlement.
2. Locate the lot.
3. Click the blue pencil icon.
4. Enter the expense description and amount.
5. Click Add Lot Expense to add additional expenses as needed.

There is no limit to the number of expenses that can be added to a lot using this method.

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Option 4: Add an Expense to the Entire Seller Settlement

If an expense applies to the seller's entire consignment rather than one specific lot:

1. Open the applicable Seller Settlement.
2. Scroll to the Expenses section.
3. Click Add Seller Expense.
4. Enter the applicable expense information.

For example, a Facebook advertising fee covering all of the seller's items could be entered as a settlement-level expense.

All Seller Expenses will be totaled in the Expenses section and reflected in the Expenses Total on the table located on the right side of the Seller Settlement.

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What Is a Seller Credit?

A Seller Credit is an amount the auction house is responsible for paying or crediting back to the seller, typically because of damage or another incident caused by the auction house.

Like Seller Expenses, Seller Credits can be applied to an individual lot or to the Seller Settlement as a whole.

Examples of Seller Credits

Credit applied to an individual lot:
An auction house employee is moving a seller's vehicle within the auction yard and drives over a nail, resulting in a flat tire. Because the damage may decrease the vehicle's value, the auction house may issue a Seller Credit to compensate the seller for the loss in value.

Credit applied to the entire Seller Settlement:
The auction yard floods and multiple items belonging to the seller sustain flood damage. Because the incident affects the seller's entire consignment, the auction house may apply a credit to the overall Seller Settlement.

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Adding Seller Credits

Seller Credits can be added either to individual lots or to the overall Seller Settlement.

Option 1: Add a Credit Through the Accounting Tab

To add a credit to an individual lot:

1. Navigate to the auction's Accounting tab.
2. Locate the applicable lot.
3. Click the blue pencil icon.
4. Enter the credit description and amount.
5. Click Add Lot Credit if additional credits need to be added.

There is no limit to the number of credits that can be added to an individual lot. Credits can also be deleted from this area if needed.

Credits added to a specific lot will appear directly underneath that lot on the Seller Settlement.

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Option 2: Add a Lot Credit From the Seller Settlement

Credits can also be added directly from the Seller Settlement:

1. Navigate to the applicable Seller Settlement.
2. Locate the applicable lot.
3. Click the blue pencil icon.
4. Enter the credit description and amount.
5. Click Add Lot Credit to add additional credits if needed.

Any lot-level credits will appear directly underneath the applicable lot on the settlement.

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Option 3: Add a Credit to the Entire Seller Settlement

If the credit applies to the seller's overall consignment:

1. Open the applicable Seller Settlement.
2. Scroll to the Credits section.
3. Click Add Seller Credit.
4. Enter the applicable credit information.

For example, if multiple items were damaged due to flooding at the auction yard, a Seller Credit could be applied to the overall settlement rather than individually to each lot.

All Seller Credits will be totaled in the Credits section and reflected in the Credits Total on the table located on the right side of the Seller Settlement.