Once you determine the best method for calculating fees, the next step is actually calculating fees for each client. Fee calculations can vary greatly, from basic flat fees to complexity based fees. However you’re getting there, our Fee Calculator makes it easy to enter payment amounts accurately every time.
In your left sidebar, under the Tools heading, select Fee Calculator. Click New Calculator in the top right corner.
If you determine all of your clients need to pay at least $1,000/year for you to be fairly compensated for your value, you can set a minimum to ensure that’s the lowest amount a client will be charged. The same works for maximums. Both of these are optional of course.
When you send out a subscription with recurring payments, AdvicePay will automatically calculate the correct amount based on the frequency you choose.
This allows you to test your calculator as you’re creating it. Users have expressed this is one of the most helpful features when they’re learning how to use the tool.
AdvicePay has four fee calculator templates built in! You can learn more about our different templates in our article, Fee Calculator Templates: Setup Guide. The four templates are:
To create an hourly template:
3. Use Preview to test you calculator while creating it.
To create a tiered services template:
3. Use Preview to test you calculator while creating it.
As you’re sending payment requests, you can use your fee calculators on the fly. On the Payment Details screen, select Use Fee Calculator.
No matter how you determine fees, you can build a fee calculator to ensure you’re able to quickly and accurately enter payment amounts. If you have any questions on building a calculator, please reach out to our wonderful team of Happiness Heroes at support@advicepay.com.