Internal System Release Notes January 15, 2026

Bidder Income:

The lot hammer price is pulled from the price for each lot listed in the clerking grid so, if you add up all the prices in the Bid $ column, you will get the Projected Lot Hammer Price. Please note that if a Lot is marked either NO SALE (like lot 4 or 10 below) or pending (not shown below) then its Bid $ value will NOT be included in the hammer price. The collected Lot hammer price is the amount of money that bidders have paid towards the hammer price on their invoice(s), and the Outstanding value is the amount of money that bidders HAVEN'T paid towards the hammer price on their invoice(s).

The fees are a sum of the INVOICED lot fees from the Auction Accounting Tab (shown below). It is important to note that this value only applies to the INVOICED lots. For example, in the below screen shot, lots 1 and 2 have fees totaling $60. Lot 4 has a fee listed of $100. However, lot 4 has NOT been invoiced (you can see this by the lack of an invoice icon in its row). This is why the fees from the report for this auction read only a projected total of $60 and NOT $160.

The Buyers Premium (BP) row pulls the SUM of the buyers premium values from the invoices themselves that was calculated. If you look at this individual invoice, the value is $42.90. The projected BP is the sum of this figure across all invoices. The collected value is the amount of BP that bidder(s) have paid towards their invoice(s). The outstanding value is the amount of BP that bidders HAVEN'T paid towards their invoices.

The taxes row pulls the SUM of the tax values from the invoices themselves that was calculated. If you look at this individual invoice, the value is $114.40 PLUS $3.43 PLUS $4.00. The projected tax is the sum of this figure across all invoices. The collected value is the amount of tax that bidder(s) have paid towards their invoice(s). The outstanding value is the amount of tax that bidders HAVEN'T paid towards their invoices.

Card surcharge Fees are calculated in 2 ways. If you use NextLot Pay (powered by Cardpointe) and have selected a surcharge program, any bidder who pays with a credit card will be charged a surcharge fee (if that bidder is located in a jurisdiction that allows the surcharge). The second way is when taking in person card payments and you run the transaction on your own terminal and the bidder pays with a credit card; you can add in the surcharge fee that the terminal gives to you and record it with their payment (see below when selecting Card as the payment option)

The Card surcharge fee value for collected and projected will always be the same. This is because you will not know what is outstanding due to the fact that it is unknown who will pay with a credit card, therefore, it is unknown which transactions the credit card fee will be applicable to until the buyer remits with a credit card.

The totals of all these columns are shown at the bottom. The sum of the collected and outstanding will always equal the projected.

Bidder Invoices

The bidder invoices have a summary of how many total invoices there are and how many are paid in full, partially paid, unpaid and are owed a refund.

This information is pulled from the invoices from that specific auction (Accounting, Auctions, Show Invoices). As you can see below, 1 invoice is settled (1285-0158), and 1 invoice has received a partial payment (1260-0126). No invoices have a refund pending.

Payment Types Breakdown

The payment types breakdown will NOT populate until 1 payment has been remitted (partial or full). The Payment types will show based on the payments taken for that auction

In this auction, 2 invoices have had payments collected, 1285-0158 was paid using a check:

and invoice 1260-0126 has had a partial payment made of $100 to it via a debit card, so a surcharge fee is not applicable in this instance.

Seller Income

Seller income contains 5 components (shown below). Please NOTE the seller income does NOT follow the same rules as the bidder income. If a lot is NOT invoiced, its Seller & Lot Expenses and Credits will ALWAYS be shown here. This is because seller expenses/credits on lots have no bearing on whether or not the lot sells (only the earned commission depends on whether or not a lot sells).

Earned Commission: a sum of the Commissions total from EACH seller settlement.

Seller Expenses: a sum of all the seller expenses. These can be found/added/removed by going to EACH individual seller settlement under the Expenses section. It is important to note these are the types of expenses NOT associated with lots (that comes later) but rather are items like "Billboard Ad Expense" if a seller agrees to pay for a billboard ad for their 1 owner auction (or something of that nature).

Lot Expenses: a sum of all the expenses associated with specific lots (like a fee to pressure wash a truck, etc.). These expenses are found in the Auction accounting area in the column expenses.

Seller Credits: a sum of all the seller credits associated with that seller. These are NOT credits associated with individual lots but rather credits the auction company agrees to give to the seller like a reimbursement for having the seller's employees help line up the sale in lieu of auction house employees doing it. These credits are found/added/removed by going to EACH individual seller settlement under the Credits section.

Lot Credits: a sum of all the credits associated with specific lots (like a credit because an auction house employee dented a seller's truck when moving it in the auction yard). These credits are found in the Auction accounting area in the column credits.

Seller Payouts:

Seller payouts details the total amount the auction company owes to their sellers from the auction, how much has been PAID to the seller's and what the balance is that is still owed to their sellers. Once the Total Due remaining is $0.00 it means that all of the sellers from that auction have been paid. The figures here are pulled from the seller settlements for that specific auction (Accounting, Auctions, Show Seller Settlements).

Due to Sellers: This is the sum of the Balance Due to the sellers from the sellers from the Settlements from this particular auction.

Paid out to Sellers: this is the sum of the Payments Total from the seller settlements. It is shown in a Negative format because this is an outgoing payment from the auction company to the seller.

TOTALS

The totals section contains 2 potential WARNING messages to indicate that the figures listed below may not be 100% accurate because of an incomplete auction.

The first is a warning that there are lots sold lots in the auction that do NOT have a seller assigned to them. This means that there was no seller commission calculated for this lot. This warning is there to help remind auction houses to properly assign sellers to their lots  to reflect what they owe their sellers for their auction net to show the true profit. You can view the lots without sellers by going to the Auction, lots, accounting.

The second warning is that there is a lot(s) in a pending state in the clerking grid. Lots that are pending are NOT a part of the calculations in the bidder hammer price, BP and taxes. A decision should be made as to whether the lot is selling or not and it should either be marked No Sale or Sold for a specific price to a specific bidder for the Totals area and Bidder Income to update accordingly.

Once this change has been made, you will see that the warning notice will be removed from the Totals area.

The bidder income - projected is a sum of projected hammer price, fees, BP and taxes. The collected amount is the sum of the collected hammer price, fees, BP and taxes. The due to sellers projected is the NEGATIVE balance of the due to sellers (negative because this will be removed from your auction net). The paid out is the value that has been paid out to your sellers (again in negative because this is money going out from the auction company). The Gross Profit subtotal projected is the Bidder income MINUS the due to sellers. The gross profit subtotal collected is the bidder income collected MINUS the due to sellers projected. The taxes owed projected is the total amount of tax you as the auction company should be collecting from your invoices if all the invoices are paid as they are listed (this is a negative value because you as the auction company will have to remit this value to the applicable tax authority). The taxes owed collected is the amount of tax you have collected so far from bidder invoices. The Auction Net projected is the Gross profit subtotal projected minus the taxes owed. The auction net collected is the gross profit subtotal collected minus the taxes owed collected.

This report does NOT update in real time. If changes are made on invoices, you will need to refresh this page to see those changes reflected in the report.