Financials

You have the option to charge vendors a single fee for consigning items. This simplifies fee management, making it transparent and efficient for both auction houses and vendors.

Set commission rates that vary based on the item's sale price, charging higher rates for less expensive items that require extensive handling. This feature ensures a fair and profitable commission structure.

Charge a straightforward lotting fee for each lot offered in a catalogue using Tandem. This feature standardizes fees, making financial management more predictable and easier to handle.

Tandem offers tools to negotiate deals on lots below reserve. Print negotiation sheets, adjust commissions, and manage payments discreetly, maintaining flexibility and confidentiality in finalizing deals.

Bulk send invoices as soon as a sale completes, allowing buyers to make prompt payments. This efficiency leads to faster dispatch of items and increased operational capacity.

Set premiums based on the sale price or as a flat rate. Buyers pay the hammer price plus the calculated premium and any applicable tax, ensuring a fair and transparent pricing structure that can be adjusted to suit different types of auctions and items.

Simplify managing buyer expenses like freight, offering clear and transparent calculations. This feature ensures buyers are well-informed about all costs associated with their purchases.

Tandem accommodates various payment methods, including deposits and split payments. Our receipting system ensures a smooth and convenient financial experience for every buyer.

Simplify financial reconciliation by batching receipts, particularly for credit card payments. This aligns with bank statements, making it easier to match and manage financial records.

Manage all aspects of vendor expense recovery with Tandem. Oversee varied commission structures, recoup vendor costs, and collect lotting fees with ease. Accelerate payout processes with functionalities like cheque printing and bank file exports, ensuring vendor satisfaction.

Tandem’s pay-when-paid processing helps comply with payout regulations, reducing financial risks from unreliable buyers. This feature ensures secure and timely financial transactions, adhering to auction industry standards.

Choose between printing A4 preprinted and perforated cheques for vendors to bank or creating an electronic file for direct bank payee system imports. This flexibility caters to diverse vendor preferences and streamlines payment processes.

Connect your Xero account, offering a unified and efficient approach to auction financial management. This integration streamlines accounting processes, ensuring accuracy and ease in financial reporting and reconciliation.