(SOLVED)Excel/Maths help needed
Hi guys,
Wasn't sure where to post this but as I'm trying to use excel to do this I thought here would be the best place.
I'm migrating our small companies details/pricing structure from a mix of excel, bits of paper, stuff in the bosses head etc to a web based CRM/accounting package to try and keep better track of things but I've hit a snag. We are a service company (cleaning) and some of the letting agents that we work with charge us a commission to give us work. At the moment this is handled rather haphazardly but in effect what we do is increase the chargeable rate to cover the commission coming off.
This new software requires me to setup a series of price lists (Cost, Wholesale, Retail) what I need to do is take our Retail Price list and create another one by altering it so that when a letting agency deducts their 10% from our invoice we aren't losing out. This will be the price list that's used for any agency that charges us a commission.
So, for example, our normal rate for cleaning services is £14.00 per hour, if I invoice an agency that takes commission at £14.00 per hour we will only receive £12.60 per hour. If I just add 10% to our base rate I would invoice for £15.40 but when the agency takes their 10% off the total we only end up with £13.86. I need to invoice £15.65 per hour to get £14.00 (roughly).
Is there a formula I can use to calculate the amount I need to invoice so that I can revise the price lists?
Sorry for the long post and many, many, thanks to anyone that can help!
Hi guys,
Wasn't sure where to post this but as I'm trying to use excel to do this I thought here would be the best place.
I'm migrating our small companies details/pricing structure from a mix of excel, bits of paper, stuff in the bosses head etc to a web based CRM/accounting package to try and keep better track of things but I've hit a snag. We are a service company (cleaning) and some of the letting agents that we work with charge us a commission to give us work. At the moment this is handled rather haphazardly but in effect what we do is increase the chargeable rate to cover the commission coming off.
This new software requires me to setup a series of price lists (Cost, Wholesale, Retail) what I need to do is take our Retail Price list and create another one by altering it so that when a letting agency deducts their 10% from our invoice we aren't losing out. This will be the price list that's used for any agency that charges us a commission.
So, for example, our normal rate for cleaning services is £14.00 per hour, if I invoice an agency that takes commission at £14.00 per hour we will only receive £12.60 per hour. If I just add 10% to our base rate I would invoice for £15.40 but when the agency takes their 10% off the total we only end up with £13.86. I need to invoice £15.65 per hour to get £14.00 (roughly).
Is there a formula I can use to calculate the amount I need to invoice so that I can revise the price lists?
Sorry for the long post and many, many, thanks to anyone that can help!
Last edited:
- Nice ninja edit, the £15.65 came from a particular bill as that was the figure I had to use in that case as you can see below