What are Markups?

 

What are Markups?

The Markup is a difference between the selling price of a good/service and its cost. It's usually represented in percentages, therefore making it a ratio. In OfficeRND you can add markups to one-off billing plans.

How to add Markups

Note: Markups are only available for one-off billing plans. There's no option to add markups for recurring billing plans, as recurring billing plans are usually used for memberships, which usually don't have a markup applied to them. Please, see our article on how to set up a billing plan here.

In order to add a markup, you can go to:

  1. "Billing">"Plans">Add plan > One-off
  2. You'll find the option for markups in the Billing tab. 

Add_one-off_plan_and_check_markups.png

Since Markups are ratios, the percentage you enter here will be added to the base price of the membership in order to form the total cost of the one-off:

plan2.png

When you finalize the creation of the billing plan, you'll be able to assign one-off fees to members and companies. When you do that, the markup will be displayed on a separate row.

Markup_20_percent.png

Note: The Markup field that you're seeing when adding a fee is not going to be editable, as this is a setting that stems directly from the billing plan. If you'd like to change the markup, you have to change the Billing plan itself

Note: Editing a billing plan and changing the Markup will not change existing one-off fees that have utilized that billing plan.

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