Expenses – What, How, and Why? — Put the Right Expense in the Right Place

Expenses are a normal part of the auction business—but who should pay them, how should they be calculated, and where should they appear?

The answer can depend entirely on the situation.

Suppose you’re selling a vehicle and need to charge the buyer title fees, documentation fees, or other costs associated with the sale. Those expenses need to be properly applied to the transaction.

Or perhaps you picked up a piece of equipment for a consignor and want to recover that expense by applying a pickup charge to the consignor.

Then there are expenses that may need to be shared. Imagine spending money to advertise an auction containing merchandise from several different consignors. Rather than dividing that advertising expense equally, you may want each consignor to pay a proportionate share based on how much of the auction’s total sales came from that consignor’s merchandise.

AuctionRPM is designed to handle these kinds of real-world situations.

In this tutorial, you’ll learn how AuctionRPM’s expense features can be used to apply different types of charges and expenses where they belong. Whether an expense needs to be associated with a buyer, a consignor, a particular transaction, or distributed among multiple consignors, AuctionRPM provides the flexibility to accommodate the way your auction company does business.

And because these expenses are being managed within the same system that handles your inventory, buyers, consignors, invoices, and auction results, the information can flow through to the appropriate parts of the auction process.

Charge the right person. Calculate the right amount. Put the expense where it belongs. AuctionRPM helps take care of the rest.