Invoicing

How you generate and publish invoices to your buyers.

Key Invoicing Terms

There are a number of items and terms that it would be helpful to understand before we look at the invoice creation and previewing.

Lift out fee

These are the fees levied to the buyers for the cost of removal of the item they have bought through the auction. When installed items have been bought from a factory or assembly line, they need to be uninstalled before they are loaded in to the transport.

The lift out fee is listed as part of the lot details before the auction starts. The buyer agrees to pay these under the Terms and Conditions of the auction.

These are automatically added to the invoice as a line item, when the invoice is created.

Export Document Fees

These are costs charged to buyers who intend to export the items purchased through the auction. this is calculated automatically where applicable to those buyers who do not reside in the auctioneers country of trading.

These fees are a fixed amount per invoice (not item). And they are automatically generated for overseas bidders and listed as a line item in the invoice.

Hammer Price

The hammer price, or the final bid price of an auction item, will be listed on the invoices for each item sold through the auction.

Hammer VAT

VAT wil be calculated at the applicable rate (currently 20% in the UK), when the invoice is generated. This will be levied as a percentage of the hammer price.

This value is shown on each line item for each item sold through the auction.

Buyers Premium

The buyer's premium is an additional charge on the hammer price, often a percentage, that goes to the auctioneer. This will be calculated automatically, according to the rate set in the Company Settings page and included in the invoice.

Buyers Premium VAT

Where applicable (not for export) will calculated a percentage of the Buyers Premium and displayed against the lot line item displayed in the invoice.

Zero Rated Invoices

Where buyers have been buying from overseas and are not liable to pay VAT due to the export of the item, a zero (0%) invoice can be generated for the buyer.