Embedded Files
To access the Formulas section of the software click on Miscellaneous on the left hand side and then click on Formulas.
To add a new formula to your available formula list, click the New Formula button in the top right corner of the screen.
Clicking the New Formula button will direct you to a Master List of pre-made formulas. These are commonly used formulas. You will see an option for a Commission with a Sliding Scale as depicted below. Click the Add button next to it in order to add this Master formula to your personal formula list.
Once you click the Add button the commission will be added to your personal list of formulas. It's best to think of these formulas as templates for you BP, Tax Rates, and Commissions.
Now we will edit this formula to fit our needs. To edit the formula click the Pencil Icon to the left of the word Commission.
The first section of the Formula Details screen will show the Formula Code, Description, and Settlement Description.
The formula code is a unique identifier for this Formula. No two formulas can have the same Code.
The Description field is an in house field. This allows you to detail what the commissions may be for. Examples would be, "Estate Commission", "Vehicle Commission", or "John Smith's Commission."
The Settlement Description field is how this commission will display on the Settlements.
Underneath the descriptive fields you will see the functional aspects of the formula. In our scenario there are three line items. This master formula is set to apply a commission of 20% if an item sells for under $100, a commission of 15% if the item sells between $100 and $500, and a commission of 10% if the item sells for over $500.
In this example we're going to change the first line to charge a 15% commission if the item sells for under $50. To edit that line click the Pencil Icon to the left of the Description that says, "20% up to $100."
Clicking the Pencil Icon will display the following window. The first field we will change is the Description.
Change the text here to state what you want this line of the commission to say.
In our example we'll change it to say "15% up to $50"
Now that we have the Description field changed we will move onto the Apply If field.
The Apply If field is how you tell AF360 when to apply this specific level of the commission.
To edit the Apply If click the Pencil Icon to the right of the field.
In our scenario we do not need to change much about this level. All we will change is the dollar amount at the end. To remove the 100 amount click the red X button.
To add the $50 amount that we want instead click the button that says, "Values." This will drop down several fields. Type into the Number field the word number 50 then press the + button. This will add 50 to the end of the formula.
Once we have 50 added to the end of our formula, click the Done button.
Once the Apply If is finished you will be directed back to the Edit Formula window. The Next field to edit will be the Calculation field. Click the Pencil next to the Calculation field.
In this editable window remove the incorrect percentage at the end of the formula using the red X button, click the Values button, and enter in the correct percentage you want to apply in the Percentage field. To add the percentage to the formula click the + button.
When your formula is finished click the Done button.
It is VERY important to make sure this field is set to Total Price. If this is set to Hammer Price your commissions may calculate incorrectly.
Clicking done will bring you back to the Edit Formula area and you should see all of your manipulated fields reflecting all of the changes you've made.
To save this level of the commission click the Save button.
This will direct us back to the Formula Details window and we see the first level in the commission scale displaying our correct commission level.
Follow the same instructions for the second and third levels of the commission.
It is important to make sure your final level of the commission is using the > (greater than) symbol and not the <= (lesser than or equal to) symbol.
Below is our finished commission after making our necessary changes.
To save these changes click the Save button in the bottom left corner of the screen.
To test that this commission is functioning the way they want, click the Test Formula button.
To test the calculation select the appropriate clerk status.
Commonly the status will be Sold.
Next enter an example sale price into the Total Price field.
Finally click the Test button.
The software will yield a result based on the formula we created.
In our scenario an item selling for $200 would yield a 10% commission which is $20. We can see from our test calculation that the formula is functioning correctly.
You can now select his commission from your Auction Details screen or any other area where you want to apply this commission.
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