The fee can be calculated according to a selected Fee Calculator for the whole project, and then split amongst the project stages according to either a percentage or a value.
Let's take a look at how this done.
- Begin by opening the project and navigating to the Budget & Fee section.
- Then, click on the pencil icon in the Fee column.
- In the Calculation tab, select a Calculator. Depending on the selected Calculator, you will either need to enter some additional values before reaching the final Fee Value, or you will be able to enter it directly.
- Now, open the Fee Split tab.
- To split the total fee amongst the project stages according to percentages, set the Split Mode to % and enter the percentage weighting for each stage in the % of Fee column before clicking Done.
- To split the total fee amongst the project stages according to monetary values, set the Split Mode to Value and enter the amounts for the relative stages under the Fee Value column before clicking Done.
- To split the total fee amongst the project stages in proportion to the previously assigned cost, click split by cost followed by Done.
- Now in the Budget & Fee section, the established fee along with the respective split amongst the project stages will be visible.
- Remember to Save your changes before exiting.
We hope this article was helpful. If you have any questions, please do not hesitate to reach out to us. Our support team is always happy to help!