Embedded Files
To access the Settlement section of the software click on Auction Day to the left hand side of your screen.
Clicking the word Settlement will direct you to a list of Invoices and Settlements for the auction you are working in.
The first thing you will see on the Settlement window are the Settlement Types.
Bidders: When this box is checked the only thing displayed on this screen will be the winning bidders from this auction.
Sellers/Salespeople: When this box is checked the only customers displayed will be Consignors/Seller/Salespeople.
Consolidated: This box is only available if you enabled this option in your Auction Details. Checking this box will show both Bidders and Sellers on the same screen.
The Update invoice button is used if you have more than one person paying out sellers or taking payment from bidders. Clicking this button will refresh the page to reflect the most up to date information regarding the settlements.
Underneath the Settlement Types you will see your list of selected settlements (either, bidders, sellers, or consolidated) listed by default in alphabetical order by Name.
To review a bidders/sellers settlement click the View Settlement button.
If the Bidders Checkbox is selected.
If the Bidders Checkbox is selected.
After clicking the View Settlement button the Settlement Details window will appear. This window will be a breakdown of all the lots this bidder won. In the example below Lot#1 was won for $6,500 and has no Buyer's Premium or Taxes applied to it.
Note that if you wish to add a Buyer's Premium or a Tax to this item you can do so using the Add Entry button.
Clicking the Add Entry button will allow you to choose the Entry type that you want to add. Either Buyer's Premium or Buyer Tax.
Selecting one of the check boxes will display a drop down menu. From this menu you can select the rate you wish to apply to this item from your existing formulas.
For assistance with formulas, view the Formulas section under the Miscellaneous area.
The example below shows Lot #1 was won for $6,500 with a 15% Buyer's Premium and a 7% Buyer's Tax.
As you can see the Buyer's Premium and Tax are displayed on each lot as their own line items.
This will be adjusted in the near future to display the subtotal of the BP and the Tax at the end of the details.
At the bottom of the settlement window you will also see a checkbox labeled "Group Lot Charges" this feature is useful if you have a large number of items on an invoice and want to view the subtotals of your Sales Tax, Buyers' Premium, and any other charges being applied to the lots.
To mark that the bidder has made payment to you click the Add Receipt button. This will bring up the following window.
- Payment Type: This drop down menu is used to select what payment method the bidder used to pay.
- Principal Amount Due: This field is not editable. It displays the amount due before any potential surcharges or discounts have been applied.
- Principal Amount Paid: This field is editable. This allows you to change the principal amount being paid.
- Surcharge/Discount Rate: This field is not editable from this screen. This field displays any surcharge/discount percentage rates that are applied based on the Payment Type selected. To see how to change this field view the Accounts section of the Wiki.
- Surcharge/Discount: This field is not editable and will display the dollar amount being charged or discounted based on the Principal Amount Paid field.
- Rounding: This field is not editable and will display any rounding you may use in your calculations. (Such as our Canadian customers rounding to the nearest nickel.)
- Actual Amount Paid: This field is editable. Here you can enter the amount the bidder gave you directly. This is useful if the bidder is making multiple payments or making a split payment (half card and half cash.)
- Notes: This field is for any notes regarding the payment being marked. Such as listing a Check number.
- Email Receipt to Bidder: This check box is used to indicate if you want to send the bidder a copy of this receipt via email.
The Pay with Credit Card button is only to be used if you have setup an integrated Credit Card processing account with CurrencyPay. Clicking this button will display all the fields necessary for manually entering the bidder's Credit Card information.
To use this section fill in all fields with appropriate information and then click the Save button along the bottom of the window.
Once the Save button is pressed the program will lead back to the settlement details page and there will be a new line item displaying the payment. If this appears incorrect then you can click the Red X button and delete that payment, then try again.
If you receive an error message stating there was an error creating the payment, it is possible that the card information was entered incorrectly or there is an issue with your CurrencyPay Account Information. For more information on you CurrencyPay Account Info settings view the Company section under Miscellaneous.
If you are NOT using CurrencyPay's integrated processing system, you can still mark the receipt as paid. You will select the Payment Type, enter the Actual Amount Paid, and click the Save button along the bottom right.
Clicking Save will direct you back to the Settlement Details and you will see a line item for the Receipt you just added.
Clicking the Print Settlement button from the Settlement Details window will open the Settlement in a separate tab. From here you can print or download the settlement to your computer.
For assistance on customizing this report please see the Custom Reports section under the Auctions area.
The final option regarding a Bidder's Settlement is the "Email Settlement To:" button. This button should automatically display the email address associated with the customer you're dealing with.
Clicking this will display a prompt window allowing you to organize several options when sending this email.
- To: This field will auto populate with the bidder's email address but it is editable in case this bidder requested their invoice be sent to an alternate address.
- Reply To: In this field you can enter a reply to email address. Meaning any bidder who replies to this settlement email will reply to the address entered here.
- CC: In this field you can enter a Carbon Copy email address to receive a copy of the email you're about to send.
- BCC: In this field you can enter a Blind Carbon Copy email address to receive a copy of the email you're about to send.
- Subject: This field will act as the Subject line for your email.
- Body: This field will act as the Body of the email that your bidders receive. This field comes populated with code that will default to say, "Please use the below link to view your statement for 'Last Name, First Name." Followed by a link to that customers settlement. This code is designed so that the bidder only sees their settlement.
You can use the space above of below this auto-populated text to customize this email any way you desire.
If the Sellers/Salespeople Checkbox is selected.
If the Sellers/Salespeople Checkbox is selected.
When the Sellers/Salespeople checkbox is selected the list will narrow to only display sellers in this auction. This will also show the balance owed to those sellers. The balance owed is indicated by the Balance in Parentheses.
To make a payment to this consignor click the View Settlement button and then select the Pay Customer button.
The payment section of the software will display the following:
- Payment Type: This is the indicator for how you paid the seller.
- Amount Due: This field is not editable and only displays the total amount due to the seller.
- Payment Amount: This field is editable and allows you to enter the amount you are paying the seller.
- Rounding: This field is not editable and will indicate if you have any type of rounding enabled (such as rounding to the nearest nickel in Canada.)
- Notes: This field is used for any notation regarding the payment such as a check number.
Once you are finished with the payment click the Save button. You can cancel any time with the Cancel button.
The payment will display on the Settlement Details page as its own line item indicating how much the seller was paid and what method of payment was used.
You can also email this settlement to the seller by clicking the "Email Settlement To:" button.
As with other areas of the software you can use the Search Bar above the list of bidders/sellers to find a specific customer.
You can use the Gear Icon next to the Search Bar to manipulate which columns are visible on the settlements page. The columns are:
- Customer Code
- Name
- Cash Buyer
- Lot Count
- Balance
- Invoice Number/Status
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