Monitor your auction financial performance through the Budget and Financials section.
Accessing Auction Financials
- Open the auction
- Click Budget & Financials in the workspace navigation
What the Financial Summary Shows
The summary brings your numbers together in one place:
- Auction Income: Projected income, sponsorships, and in-kind sponsorships. In-kind is shown for reference and is not added to cash totals
- Auction Expenses: Projected and actual expenses
- Projected vs Actual: A side-by-side comparison of income and expenses with the variance for each
- Net Income: Total actual income minus total actual expenses
Entering the Detail
- Projected Income: Expected revenue, including the value of your auction items
- Projected Expenses: Planned costs for running the auction
- Actual Expenses: Real costs as they are incurred
- Actual Income: Revenue from winning bids and related sales
- Sponsorships: Recorded on the Sponsorships tab and rolled into the income summary
Setting Budget Goals
- On the Auction Details tab, set the Target Budget and Fundraising Goal
- Add projected income and projected expenses to plan
- Track actuals as the auction runs and review the summary for net results