How do I set up a Split Guarantee?

In Wavebid we have the option to use Scaling Commissions as a split guarantee. However if you do not meet your guarantee you will have to manually adjust the commission for the seller. Below is a guide going over how to set up a split guarantee.

 

 Split Guarantee

1. Navigate to My Links > Company > Accounting Settings > Scales - Commissions.

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2. Give your new Guarantee (scale) a name and Description so it can be easily identified.

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3. Add your commission structure in, and make sure to leave the minimum blank. An example of a Split Guarantee 0% commission up to $100 (your guarantee value), then 50% commission up to $999999999999.

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4. After you are finished make sure to save your New Scale.

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Applying a Split Guarantee to a seller

1. Once you have created your Split Guarantee Scale you need to apply it. This can by done on the page where you can enter your commissions for a seller that is checked into a sale. This can be found at a few different places, but the one in this guide can be found by navigating to your dashboard and on the sale you want to add your Guarantee to a seller navigate to the right hand side of your auction. Then Auction > Sellers

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2. Enter in the name of the seller you want to add the seller code to, or create a new seller.

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3. Enter in the desired Seller Code. Make sure to note that a seller can have more than one seller code, and save. This will make the commission area appear.

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4. You can now select "cumulative sliding scale per lot", and next you can select your Scale from the list available here.

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5. Make sure to save on the top right.

 

6. You can now use the same Seller code you entered on the step above and add it to any lot that has the same guarantee.

 

 

If you don't make your Guarantee

If you don't make your guarantee you will need to make a manual change to that seller.

 

1. Navigate back to your Dashboard, then on the Accounting > Sellers, on the right of the auction you are working on.

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2. Click on the seller code for the failed Guarantee.

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3. Scroll down and add a credit to balance out the remaining amount up to your guarantee.

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