23 Jan 2020 // 2 minute read
What does everything mean?
Don't worry, I'll explain what everything means and tell you how it is useful.
This is the when the Charge should be paid by. The default for the deposit is N/A and the default for balance is the same as the event date.
This is what you're charging, there are four options.
1. Deposit: A certain % of the event fee asked for in advance.
2. Balance: The balance (total-deposit) for the event.
3. Extra Costs: Any extra costs you are billing. e.g. DJ service.
4. Travel Costs: Any travel costs you are billing the client.
You set this to either Outstanding (not paid), or Paid (paid!). Make sure you update this as it is used when it comes to reporting!
The amount owed for each charge.
Deposit + Balance + Extra Costs + Travel Costs = Sub Total!
If you charge tax we work this out for you. Everything you charge the client is taxable so if the subtotal is £2500.00 and you charge tax at 20% we'd add on £500.00 for tax!
Another equation! Sub Total + Tax = Total Invoiced!
We total the amount you are paying out in musicians extra costs and fees.
You guessed it, yet another equation... Total Invoiced - Musician Costs = Profit! This is how much left over you are to make if you hire musicians. If you're not hiring any musicians the profit will be 100%.
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