This article describes how to access and read the Auction Summary Report in Wavebid.
Accessing the Report
To access the Auction Summary Report, navigate to the applicable auction from the Dashboard, then select Accounting > Reports > Auction Summary. The report updates as lots are clerked and payments are made/issued.
The "Data Accurate As Of" date is visible in the top left corner of the report.
To print a copy of the report, click the Print button in the top right corner of the page.
Report Tables
Payment Breakdown Table
This table displays the following values for the current auction:
- The Hammer Price is the total hammer price for the auction, as well as the amount collected and outstanding as of the report date.
- The Fees are the total amount charged in fees in the auction, as well as the amount collected and outstanding as of the report date. For more information, see Fee Management.
- The Tax is the total tax charged to bidders, as well as the amount collected and outstanding as of the report date. For more information, see Applying Tax Codes.
- The Buyer's Premium is the total amount charged in Buyer's Premium fees in the auction, as well as the amount collected and outstanding as of the report date. For more information, see Buyer's Premiums.
- The Conv. Fees/Add. CC BP is the total amount charged in convenience/credit card fees in the auction, as well as the amount collected and outstanding as of the report date. For more information, see the Accounting tab section in Auction Settings.
- Totals is the total of all the values listed above.
Other Income Table
This table displays the total amount of expenses and commissions charged for the auction. Clicking the Billable Expenses link will open the Expense Report. Clicking the Commission link will open the Seller Summary page. For more information on expenses, see Expenses and Credits. For more information on commission, see Seller Commissions.
Debits Table
This table displays any Overage in Expenses, which includes expenses applied to sellers that exceed the Max Expense amount entered when the seller was checked-in. If no Max Expense amounts have been entered for any sellers, the Overage in Expense amount will display as $0. For more information on seller expenses, see Expenses and Credits.
This table also displays Refunds Due, which consists of any overpayments issued as "apply to balance". For more information on refunds, see Invoice Refunds and Discounts and Payments. A list of refunds recorded for an event can be found on the Reconciliation report.
Totals Table
This table displays the following values for the current auction:
- The Auction Total is the total hammer price, fees, premiums, bidder taxes, etc. See the Totals column and row in the Payment Breakdown table above.
- The total amount due to sellers. Clicking the Due to Sellers link will open the Seller Summary page.
- The total amount paid to sellers as the report date. Clicking the Paid to Sellers link will open the Seller Summary page.
- The Gross Profit Subtotal is the Auction Total minus the amount Due to Sellers and the amount Paid to Sellers, if applicable.
- The Debits Total is the total amount from the Debits table (above).
- The Taxes Total is the total amount of taxes due. For more information, see the Tax Summary Report.
- The Auction Net is the Gross Profit Subtotal minus the Debits Total and the Taxes Total.
Payment Type Details Table
This table displays the total dollar amount received using each payment method, and the total payments collected as of the report date. Values in parentheses are outgoing payments, such as refunds. For more information, see Payments.
Auction Details Table
This table displays the following values for the current auction:
- Total Lots is the total number of lots.
- Total Photos is the total number of photos, videos, and PDFs added to lots. For more information, see Lot Builder.
- Photos Per Lot is the average number of photos per lot.
- Price Per Lot is the average price per lot. This is the total selling price of all lots divided by the total number of lots (including unsold lots).
- Expense Per Lot is the average expense per lot. This is the total cost of all the expenses for the auction divided by the total number of lots (including unsold lots). For more information, see Expenses and Credits.
- Profit Per Lot is the average profit per lot. This is the Auction Net (see Totals above) divided by the total number of lots (including unsold lots)
Invoices Table
This table displays the total number of invoices in the auction that have been Paid in Full, Partially Paid, and are Unpaid. For more information on tracking invoice status, see Invoices Page. For more information on payments, see Payments.
Lots Table
This table displays the total number of lots in the auction clerked as Pass, Reserve Not Met, or House Number. For more information, see Clerking.
Buyer's Premium Breakdown Table
This section will only appear on the Auction Summary if a Buyer's Premium (BP) scale was applied to the auction. For more information on scales, see Buyer's Premiums.
The amount in the Totals column to the left of a percentage is the total Buyer's Premium applied at that rate. The amount in the Totals column to the left of the Online Premium Amount displays the amount charged as the Online Premium. The Online Premium is charged to online bidders and can be found by navigating to the applicable auction from the Dashboard, then selecting Auction > Edit Settings. Click on the Accounting tab. The premium will appear in the Online Premium field on the left side of the page.
The Buyer's Premium Breakdown table displays the Buyer's Premium totals resulting from the applied BP scale. If the BP was manually altered on any lots or invoices, those premiums will not be reflected in the Buyer's Premium Breakdown table. If the BP was manually altered, the BP totals listed on the Buyer's Premium Breakdown table will be different from the BP totals listed on the Payment Breakdown table, as the Payment Breakdown table will reflect all Buyer's Premiums applied, regardless of whether they were applied via scale or manually.
Troubleshooting
Invoice Discrepancies
If there are any discrepancies between Outstanding payments and/or Unpaid invoices when compared to the invoices themselves, navigate to auctions Invoices Page and click the Refresh button in the top right corner. A pop up window will open. Click the Refresh This Page button to continue. Clerking changes made to invoices without refreshing may cause discrepancies in reporting.
Seller Discrepancies
If there are any discrepancies between the Gross Profit and/or Commission data when compared to the auction totals or seller settlements, confirm that seller codes have been assigned to all sold lots. To do so quickly, navigate to Auction > Preview Auction, ensure the Seller column is visible, then click on the Seller column header to sort the event by seller code. Lots missing a seller code will then either move to the top or bottom of the lots list. Once a seller code has been added to the sold lots, the reports should reflect accurate Gross Profit and Commission data.
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