Embedded Files
The steps below are organized to create a Commission described as a Flat Percentage Commission. This is a single percentage charged across the board for your auction. If you are interested in creating a Sliding Scale Commission please visit the Sliding Scale Commission section of the guide.
To create a commission click on the word Miscellaneous on the left hand side of the software. Underneath the word Miscellaneous, click on the word Formulas.
If this is the first time you're visiting this page you will find the area blank. This is because Formulas must be added to this page in order to make them valid selections throughout the rest of the software.
To add a new formula click the New Formula button in the top right corner of the screen.
Clicking the New Formula button will display the Master Formula List. There are currently 8 formulas available to you. These are some of the most common Commissions/Buyer's Premiums/Taxes that we run into.
For this scenario we're going to click the Add button next to the Commission that has the Code "Flat 20%"
Once you add this commission you will be directed back to the Formula list page. You should now see the Commission with the Flat 20% code listed here.
In our example we want a commission of 15% instead of 20%. To edit this 20% formula we just added we'll click the Pencil icon to the left of the word Commission.
Clicking the Pencil icon will direct you to the Formula Details Page.
Here you will see 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.
It is important to note that all of these fields are descriptive in nature. Changing these values does not actually change the function of the formula.
Underneath the descriptive fields you will see the functional aspects of the formula. In our scenario there is only one line item which should still say 20% Flat/Each. Click the Pencil icon to open the Edit Formula window.
The Edit Formula window will show the following fields:
- Description
- Apply if
- Account
- Calculation
- Exit If
The Description field is another cosmetic field that is only for in house use meant to indicate what this level of your commission does.
Click the Pencil icon next to the Apply If option will allow you to direct the program WHEN to apply this commission.
In our case we're going to apply this commission when the clerk marks the item as Sold.
If you're editing a pre-existing commission and want to change your commission to apply based on Clerk Status = Sold:
- Use the Red X button to clear out your calculation.
- Click on the Keywords button
- Click the Common button
- Click on the Clerk Status button.
When you click on the Clerk Status button a new window will appear allowing you to indicate that you want this commission applied based on the item being marked as Sold.
Click the Done button when you're finished.
The account field will by default be set to 4501 - sold. This will be the only setting used for the Account field in 99% of scenarios. For more information on adding/editing these fields view the Accounts section.
Next we will click the Pencil next to the Calculation section.
The first part of the calculation we need to add is the Total Price.
Total Price is found by clicking the Keywords button followed by the Common button.
Make sure that you do not select Hammer Price here as this can cause issues when handling commission on items with multiple quantities.
The second part of the calculation will be the multiplication button.
To find this option click on the Operations button.
The multiplication button is indicated by the asterisk * symbol.
The final part of the calculation will be indicating the percentage that we want to multiply by the Total Price.
To enter your amount click the Values button. Enter your percentage into the field labeled Percentage and then click the plus button.
Once your calculation looks correct click the Done button in the bottom right corner.
The final row stating the Exit If option should be set to True.
If it is not set to True. Click the Pencil icon next to it to open the edit window. Click the Boolean Expression button followed by the True button. Click done to save this change.
Your Formula should now appear to state a correct Description, Apply If, Account, Calculation and Exit If sections. Click the Save button to save these changes.
It should appear like the example below.
You can test this formula from this screen to make sure that it is functioning the way you intend by clicking the Test Formula button.
From the Test Formula window you will select the Clerk Status you would expect your clerk to enter (Sold in our example)
In the Total Price field you will enter a test dollar amount.
When both fields are entered click the Test button.
Clicking the Test button will display the results.
In our example entering $100.00 with a 15% commission will yield an extra $15 applied to our profit (debit) and will show that same $15 deducted from our consignor (credit.)
Now that the test operates correctly we can move on to creating a Buyer's Premium.
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