Paying contractors as % of revenue
We work with contractors who are offered management services for a management fee. The management fee is charged at 30% of revenues that the contractors generate. How can we generate invoices for them in MYOB to reflect the below situation.
| Gross fees ($) | 1100.00 |
| adjustments | |
| Less | |
| GST included in gross fees | 100 |
| Other - | |
| Net Receipts | 1000.00 |
| Less: | |
| Mgt fee@30% | 300.00 |
| GST@10% | 30.00 |
| Amount Payable to your account | 670.00 |
| Add: GST included in gross fees | 100 |
| Add: Other - | |
| Subscription charges/ others | -35 |
| Amount transferred to your account ($) | 735.00 |
