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Fee Management

This article describes the processes for creating fees and adding them to individual lots or invoices. For information on Buyer's Premiums, see Buyer's Premiums in Wavebid

Create a Fee

Add a Fee to a Lot

Add a Fee to an Invoice

 

Create a Fee                                                                                           

  1. From the Dashboard, navigate to My Links > Company > Accounting Settings > Fees.
  2. To create a new fee, enter a Name, Amount or Percentage, and Description. If the fee is taxable, check the Taxable box. If both a flat Amount and a Percentage are entered, the system will default to using the flat Amount.
    • Please note, the Fee Name will not appear on the invoice, but the Description will. 
    • To edit an existing fee, click the Pencil icon to the right of the fee, make the necessary change, and click the Save button.
    • To delete a fee, click the Trashcan icon to the right of the fee. The fee will be removed from the Individual Fees table.
  3. Click the Save button. The fee will be added to the Individual Fees table. Fees created here can then be added to invoices or lots. FeeManagementPage.PNG

 

Add a Fee to a Lot                                                                                  

Fees can be added to specific lots in two ways:

  1. Using the Lot Builder page while cataloging.
  2. Adding the fee to the Invoice.

Add a Fee to a Lot via Lot Builder:

  1. Navigate to the appropriate auction from the Dashboard and select Catalogs > Lot Builder.
  2. Use the Go to lot drop-down menu to select the appropriate lot number, or create a new lot. If a new lot is created, it will need to be saved before the Fees tab will be accessible.                          LotByPhotoGoToLotDropDown.PNG
  3. Scroll down and click on the Fees tab. 
  4. Click the Add Fee button. LotByPhotoFeeTab.PNG
  5. A pop-up window will open. Select a fee from the Type drop-down menu. The fees that appear in this drop-down are ones that were previously created on the company's Fee Management page. Any details associated with that fee will automatically populate when the fee is selected. The fee details can be edited. Any fee changes made here will only impact this lot.                            LotByPhotoFeeDropdown.PNG
  6. Click the Save button. The fee will be listed under the Fees tab.
    • To edit a lot fee, click the Pencil icon to the right of the fee, make the changes, and click the Save button.
    • To delete a lot fee, click the Trashcan icon to the right of the fee. A confirmation window will appear. Click the Ok button to delete. The fee will be removed from the Fees tab.                         LotByPhotoLotFeePopUp.PNG
  7. Save the lot by clicking the Disk icon in the top right corner of the Lot Builder page. LotByPhotoSaveButton.PNG

 

Add a Fee to a Lot via Invoice:

  1. Navigate to the appropriate auction from the Dashboard and select Accounting > Invoices.
  2. Click on the Invoice Number of the applicable invoice.InvoiceList.PNG
  3. On the invoice, click the Plus Sign (+) under the Add Fee column.  AddFeetoLotonInvoice.PNG
  4. A pop-up window will appear. Select a fee from the Type drop-down menu. The fees that appear in this drop-down are ones that were previously created on the company's Fee Management page. Any details associated with that fee will automatically populate when the fee is selected. The fee details can be edited. Any fee changes made here will only impact this invoice. 
  5. Click the Save button. The fee (and any applicable taxes) will be added to the invoice. 
    • To edit the fee, click the Pencil icon to the left of the fee, make the changes, and click the Save button.
    • To delete the fee, click the X to the left of the fee. A confirmation will appear. Click Ok to delete.FeeOnInvoice.PNG
  6. If needed, the tax rate on a fee can be edited by clicking on the value in the Sales Price Tax column. The fee must be set as "Taxable" in order for taxes to be edited.  ChangeFeeTaxonInvoice.PNG
    • A pop-up window will appear. Select a rate from the Tax Code drop-down and click the Set Tax Code button. For more information on Tax Codes, see Creating Tax Codes.                     EditTaxFeeOnInvoice.PNG
  7. Confirm that the tax and totals have been adjusted.

 

Add a Fee to an Invoice                                                                           

Fees can be added to an invoice without having to be associated with a particular lot.

  1. Navigate to the appropriate auction from the Dashboard and select Accounting > Invoices.
  2. Click on the Invoice Number of the applicable invoice.InvoiceList.PNG
  3. Click on the Actions button and select Add Invoice Fee.                            InvoiceActionsButton.PNG
  4. A pop-up window will appear. Select a fee from the Type drop-down menu. The fees that appear in this drop-down are ones that were previously created on the company's Fee Management page. Any details associated with that fee will automatically populate when the fee is selected. The fee details can be edited. Any fee changes made here will only impact this invoice. 
  5. Click the Save button. The fee (and any applicable taxes) will be added to the invoice.
    • To edit the fee, click the Pencil icon to the left of the fee, make the changes, and click the Save button.
  6. If needed, the tax rate on a fee can be edited by clicking on the rate in the Tax column. The fee must be set as "Taxable" in order for taxes to be edited.  ChangeFeeTaxonInvoice.PNG
    • A pop-up window will appear. Select a rate from the Tax Code drop-down and click the Set Tax Code button. For more information on Tax Codes, see Creating Tax CodesEditTaxFeeOnInvoice.PNG
  7. Confirm that the tax and totals have been adjusted.

 

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