By now, you already know that Conceptual Items are special tools to help you make money ex nihilo.
You might want to use a Percentage Fee for things like a Damage Waiver aka Equipment Protection Plan. Or your business might be built around Delivery Fees that are 25% of the Order total. We don’t know all of the ways you’ll use them, but we know you will use them.
To create a Percentage Fee, navigate to the “Items” icon in the upper left corner of your browser window.
In the left column, select the Category where you’d like your Percentage Fee to live.
In the second column, click the “+’ button.
With your New Item selected, click on the green “Edit Item” button.
Before you do anything else, jump down to the bottom right corner. Untick the “Display in public gallery” box and the “Item is taxable” box if you don’t need to collect sales tax on this fee. Now tick “Item is conceptual” and “Item is percentage.” You’ll also want to tick the “Applies to taxable” and “Applies to nontaxable” boxes (unless you only want the Fee to calculate based on one or the other).
Now, head back to the top, type the name of your Percentage Fee.
Click the “New” button to enter the Acquisition Date (remember this needs to be BEFORE any orders you plan to use it on) and the quantity. Like all Conceptual Items, we suggest you use 1000. There’s no Cost associated with Conceptual Items. Click the “Enter Quantity Change” button and your quantity will appear for this Item.
Now, on to the Rental Price. You’ll use this field to enter the default percentage for the fee. For instance, if it is a 10% fee, simply enter 10 here.
Click “Save Item” and you’re all set.
Percentage Discounts are exactly the same as Percentage Fees but in the Rental Price field, enter a negative number. For a 25% discount, enter “-25.”
Remember that with any Item (including these), you can change the price manually on an order-by-order basis. The “Rental Price” field is just a place to put the default amount.
Flat Discounts (i.e. $200 off) are exactly like regular Fees but the “Rental Price” will be a negative number (“-200”).
We’ll talk about this again when we get to Rental Orders but keep in mind that Percentage Fees and Percentage Discounts will be calculated based on everything above them on the Order.
For instance, if you have
10 Dumbo Chairs @ $5 each = $50
10 Babar Tables @ $20 each = $200
10% discount = -$25
50 Red Linen Napkins @ $0.50 each = $25
The 10% discount will only apply to the chairs and tables—not the napkins that are below it on the Order.
Now let’s talk Taxes before we move on to renting out your Items to make you some cash.