Auctions: Recording Purchase of Auction Items
- Management of auctions (recording bids/purchases and charging purchaser credit cards) is handled via a third-party application (of your choice); we recommend Handbid as their export is specifically designed to work with our import utility.
- Information on the purchase of auction items can be recorded to contact records via the Import Utility; the data is exported from your auction management software and then imported to Fundly CRM.
- We have provided an Auctions Import Template for your convenience.
- Create your import file, following the instructions within the template.
- Follow the import utility instructions to import the data.
- After the import has finished processing, you will be able to find the auction purchase(s) on the contact’s record on the Financials tab and on the Invoices module.
- If the purchaser paid more than the fair market for the item, then the system will consider the amount above the fair market value a donation. For example, if the fair market value of an item is $50 and the person who purchased it at auction paid $80 for it, then $30 of the purchase price is consideration a donation. The transaction will show on the Financials and Invoices module as a split transaction. The donation portion of the purchase will also show on the Donations tab and on the Engagement History module.
- You can generate donation acknowledgement letters for the donation portion of the transaction from the Send Acknowledgements area.
- You can do an advanced search and/or write reports to generate a list of auction purchasers and the associated details using the criteria “gift source equals auction.”