The inclusion of a list of fees depends on your organization’s policies and the regulation that controls your operations. The list of fees is traditionally presented just below the list of items and services.
Additionally, the list of fees is helpful as it enables management internal books of your organization. The list of fees includes taxes, shipment and handling fees, storage services, and more.
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Taxes
The most common type of tax that is collected from purchased goods and services is the value-added tax or commercial tax. The invoice generating software would usually allow you the opportunity to input the percentage of tax required. In most cases, the value of the tax may be a fixed value that has already been input within the software. You also would have the opportunity to update the value of the tax depending on the type of goods being sold.
Additional taxes for special goods and services would also be included. Tax exemption for some specific types of good may be indicated.
Shipment and Handling Fees
The list of fees would usually contain shipment and handling fees. This value usually depends on the value and nature of an item. Depending on the type of software that you used to create the invoice, you may have to input the costs manually. In some cases, the shipment and handling fees are connected to the number of items and the unique identifier code. Therefore, these fees are updated automatically.
The more expensive or fragile an item is, the more likely it is for the handling fees to be high. Also, smaller items would tend to cost more to handle and ship, while bulkier items would usually cost more to transport.
In certain cases, storage fees and insurance fees may be included in the handling or shipping fees. This usually happens in cases where items are imported from aboard.
