Skip to main content

Providing your Financial Information

Bianca Utihata avatar
Written by Bianca Utihata
Updated over a week ago

During the setup process, you’ll need to decide how extensively you wish to use Bidlogix’s financial features. Whatever level you choose, you’ll need to provide certain financial details as outlined below.

Once setup is complete, you can review and edit this information as required, using these instructions.

Basic Required Info

  • Currency
    Used throughout the system by users, admins, and in invoices.

  • Buyer’s Premium
    Set as a default amount and applied automatically to each auction or item you create.
    This can be changed on a per-auction or per-item basis if needed.

  • Default Deposit Amount
    This is not displayed to users.
    If you request deposits, this amount can be referenced in system-generated emails.

  • Tax Rates
    Apply to hammer price, buyer’s premium, and charges.

Further Basic Settings

  • Always Request Deposit
    (Setting option)

  • Require Spending Limit
    When enabled, adds a required field to the registration page asking users to input their intended spending limit.

    • This value is not actionable across the system but is saved to the user’s account.

    • Admins can view and monitor it manually.

Invoice-Specific Info

  • Invoicing Logo
    By default, no logo is added. You can upload one to appear on all new invoices.

  • Invoicing Auctioneer Name
    Defaults to the auctioneer’s name but can be customised (e.g. if financing is handled by a different entity).

  • Invoicing Address
    Defaults to the auctioneer’s address but can be customised.

  • Invoicing Contact Number
    Also defaults to the auctioneer’s details and can be changed.

  • Invoicing Details
    Allows you to customise:

    • Invoice titles (e.g. “Invoice”, “Paid Invoice”, “Credit Note”)

    • Field labels (e.g. change “Item No.” to “Lot No.”)

  • Payment Terms
    These terms are shown directly on the invoice.

  • Sales Tax Details
    Includes:

    • Tax rates (hammer, buyer’s premium, charges)

    • Labels such as:

      • Internal Reference Label (e.g. European tax info)

      • Tax Code Label (e.g. “Company VAT No.”)

      • Tax Code Value (e.g. “GB123456”)

      • Tax Code Abbreviation (e.g. “VAT”)

  • Bank Details
    Include bank name and bank address.

Online Payments/Payment Gateways

Did this answer your question?