This article will provide steps and a video for how to split payment for a live auction item.
We are often asked if we can split a live auction item into multiple invoices so that a group that all went in together on the item can pay separately.
The short answer is yes.
There are two ways to do this (one much simpler than the other)
- You can add multiple cards to a single invoice and split the payments across the cards.
This would allow you to charge each person's card for a portion of the bill. However, this would only generate a single receipt that would go to the primary bidder.
Your guests may want their own receipt. If that is the case, then you will need to use method #2
- You can split the item into multiple copies (each worth a portion of the whole)
For example, you could take a foursome of golf and split the item into 4 copies if you wanted to allow each person in the foursome to pay individually.
If you do that, you would divide the winning price AND THE FMV by the number of payers so that you show an accurate receipt. For example, if you had a $2,000 winning bid on a foursome with a FMV of $400, you would want to split that into 4 items each with a winning bid of $500 and a FMV of $100.
Once you have it split, you can process the bids individually.