During the set up process you will need to decide the extent to which you want to make use of our financial features. Whatever level you choose, you will need to provide certain financial information as detailed in this document.
Basic Required Info
- Currency - this is used across the system both for users, admins and in invoices.
- Buyer's Premium - this is set as a default amount and will apply naturally to each auction/item you create. It can however be altered per auction and even per item if required.
- Default deposit amount - this is not displayed to your users anywhere, but if/when you request deposits from users this can be entered into an email produced by the system. Alternatively once BidJS supports payment gateways this can be automatically requested to be paid by the user.
- Tax Rates for hammer, buyer's premium and charges.
Further Basic Settings
- Always request deposit -
- Require spending limit - can be switched on or off. This enables a required field on the registration page that asks users to input their intended spending limit. It is not actionable across the system by an admin, but adds this value against the user, which can be monitored manually by admins.
- Invoicing Logo - this defaults to no logo, but one can be added by default to each new invoice
- Invoicing Auctioneer Name - this defaults to the auctioneer name, but it can be customised to display a different name to the auctioneer (e.g. if financing is outsourced or the company name is different to the auctioneer name)
- Invoicing Address - This defaults to the auctioneer address but can be customised
- Invoicing Contact number - as above
- Invoicing Details - this concerns certain text that appears on the invoices. For example you can customise the Invoice title, paid invoice title and credit note title. You can also customise the "Item No." text, e.g. you could change it to say "Lot No.".
- Payment terms - these are the terms that are displayed directly on the invoice
- Sales Tax Details - this includes the tax rates for hammer, BP and charges. It also includes various labels that are associated with the invoices such as Internal reference label (e.g. European tax details), Tax Code Label (e.g. Company VAT no.), Tax Code Value (e.g. GB123456) and Tax Code Abbreviation (e.g. VAT).
- Bank Details - Bank name and address.
Online Payments/Payment Gateways
- Coming soon.