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Fractional Mark-up amounts

By Martin Schertzer posted 07-21-2014 10:42

  

Does anyone actually bill Clients using fractional markup amounts?  If you do,  what are you currently using for front office software to accomplish this.  I have been pondering this for years and our current software provider (E-Empact, Bond) had once told us it would cost us in the ball park of $10k to get this feature added.  It sees to me that if a gas station can pull it off why should we not be able to do same.  I long for the days of 45.7% markups.

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Comments

Susan Wurst
09-23-2014 12:42

We have some customers who use our software bill fractional markups. The system allows up to four decimal places, but of course when it converts to a dollar amount it rounds to two decimal places.

Martin Schertzer
08-01-2014 09:14

Most of our Clients always base the business on the markup, putting the pay rate second. I agree with your model of bill rate only which is what it should be. The analogy being when you buy a new refrigerator you don't ask the manufacturer how much it cost to make and compare based on that information. Ridiculous! Our EEmpact software will not allow fractional markups in the calculations. Limited!!!

Larkin Dailey
08-01-2014 08:54

We have done this before successfully. However, we try our best not to share markups with clients. This is why we focus on small to medium sized businesses where they appreciate quality and service most.

Martin Schertzer
07-29-2014 17:06

Never done before. But driving by a gas pump one day sparked my curiosity as to why firms like ours don't use fractional markups like a gas station? A 42.7% markup will yield so much more than a 42% and is more acceptable to the Client than a 43% markup. Get the picture?

Michelle Hodapp
07-29-2014 17:01

I have never encountered anyone that does this. Is this something that your company used to do?