This document aims to describe and explain a Transfer listing's journey through Asset Flow. These areas are covered in the document:
- Step 1: Adding the Asset into Asset Flow
- Step 2: Approving the Asset
- Step 3: Sending the Asset over to Bidlogix
- Step 4: Asset Transfer is requested
- Step 5: Closing the Auction and returning the Asset to Asset Flow
- Step 6: Accepting the Settlement and Archiving the Lot
- What if Nobody Requested the Transfer?
Step 1: Adding the Asset into Asset Flow
The asset can either be added into the system individually or in bulk.
The asset must be of type listing and Purchase option of Transfer:
When completing the Sale Info section, the End Date will auto-complete as long as the settings are in place to do so. You can set the default Asset Transfer Window in the back end - contact your administrator for more information.
Step 2: Approving the Asset
If you have approvals in place for the sections before Sale Info, these will need to be approved before you can send the asset into a sale.
Step 3: Sending the Asset over to Bidlogix
Once all the necessary approvals are in place, the item must be sent into a sale.
In the sale the item will look like this in the front end:
Step 4: Asset Transfer is requested
The interested user must create an account, activate it, login and register to bid. Depending on the auction settings, some of these steps may be automated. They must finally click the Transfer button to be able to request the transfer. They must then confirm this transfer request twice, as follows:
Their request will be visually confirmed:
The transfer item will now appear as transferred to the public:
Step 5: Closing the Auction and returning the Asset to Asset Flow
In the backend, the item will appear as Closed and Transferred:
In order to return this item to Asset Flow, the auction needs to be Reconciled.
If there are any approvals required for either of the final two sections, these must be in place before the item will fully return to Asset Flow.
Step 6: Accepting the Settlement and Archiving the Lot
Once the approvals are in place, you will be able to accept/reject the invoice and settlement stage.
If the settlement is accepted, the asset will be marked as sold and can be archived.
If the settlement is rejected, the asset can either be marked as unsellable/waste and archived, or it can be moved back into Sales Development status.
What if Nobody Requested the Transfer?
If the item did not receive a transfer request, the auction must still be reconciled once the item has closed. The item will then return to Asset Flow with an Unsold status. It can then be marked as unsellable/waste or can be set to Start Sales Development status.