Account administrators and users with accounts access can add a % specified management fee to your Cost Estimates or Tax invoices which will automatically calculate a total based on the line items above it.
If you are making use of Section headings, the management fee will be calculated on the line items above up to the section heading break.
This allows you to easily add in management fees for a long list of line items, or split them up with the use of section headings. Also saves times, instead of having to calculate these fees manually.
Here is how to add a management fee to your Cost Estimate (same applies to Tax Invoices)
- Navigate to Accounts - Cost Estimates
- Add a new cost estimate
- Add the required line items to your CE.
- Add a new line item and choose your "Management Fee" item type. (you can customise the name depending on what you'd like to call it e.g Project Management Fee).
- Specify a % in the "Quantity" e.g 10% or -10% (you specify a negative percentage to issue discount if required)
- This will calculate a fee of 10% on all of the line items above it.
- The description will be appended to show the percentage fee added.
TIP: Once the percentage is entered the quantity will update to"1". Furthermore, the quantity can be changed which acts as a multiplier for the cost of your line item e.g changing quantity to "2' will double the cost.
TIP: you can drag the "Management Fee" line item in between other line items and the total will be adjusted accordingly.
TIP: If your CE is divided using section headings, you can calculate management fees on the section by adding a line item to the required section/s. Fees are calculated on the line above above and ends at the section heading.
Here are 2 short clips showing how to add a Management fee to your line items.
Clip 1 - Adding a 10% management fee on a single line item
Clip 2 - Adding a 10% management fee on the same line item and then dragging it to another section. Note the automatic adjustment of the totals when dragged which calculates 10% (R1900) on the 2 line items (R19000) below the section heading.