Percentage Deduction
TerenceTobin
Member Posts: 5
Hello, I would like to put a 15% deduction on my invoice as this is a finders fee that needs to be retained. How do I add this?
Example: Invoice is $10 000, then it must show the 15% as a "split or fee" and then the balance due is $8 500.
Also, can I load two deductibles on the invoice for two fixed currency fee?
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Comments
Hi, @TerenceTobin,
Can you tell me a bit more about the real-world process of invoicing for you? Getting a better understanding of what you're trying to represent will give me the best idea on how to help.
Do you use agents as salespeople who keep what is essentially a 15% commission? If that's the case, this is how you'd have to handle it.
You'll have to determine the amount yourself, however. There's no way to automatically calculate percentages in Wave at this time.
Thanks Alexia, you have answered it above and that post clarified matters too.
Basically I need to invoice the company I work at for my commission but they retain 15% of it, so i want to show that as a line item.
This I see how to do and show as a deduction, was just hoping Wave could calculate it automatically for me.
No, @TerenceTobin, there isn't currently a way to do this automatically with Wave.
Can you tell me a bit more about your business? What field do your work in? Do you sell your services through agents more often than not? The more information you can offer, the better we'll be able to understand your needs.
I work at a brokerage, we earn commission and fees from insurance companies, investment companies and clients.
I then invoice the brokerage for this remuneration with 2 fixed cost items and they also retain 15% of my earnings.
Thanks for following up with more details, @TerenceTobin!
Hi @Funto . Thanks for this further information on how the feature would help your business. This definitely gives us more insight into how this would make things easier for our users.