When creating a Custom Report and choosing the Detailed report type, there are options to add Invoice Line Item and Expense details to your custom report. Set up your custom report accordingly and export it when you're ready.
Reporting Your Invoice Line Items
Let's break down the different Invoice Line Item options:
Invoice Line Item: Amount - The amount per each individual fee line item. If you have multiple fees set up, this is the amount (or rate) for each line item.
Invoice Line Item: Appraiser Fee - The amount that is to be paid to an appraiser for each fee line item, where applicable.
Invoice Line Item: Assignee - The user assigned to that particular fee. If it's unassigned, it will be left blank.
Invoice Line Item: Commission Rate - The commission amount. (If commission is being calculated on that fee line)
Invoice Line Item: Commission Type - Is the commission a % or flat fee? (If commission is being calculated on that fee line)
Invoice Line Item: Description - The description or title of the fee line.
Invoice Line Item: Is Billable - Is this fee being billed to the client, yes or no?
Example of Reporting Your Invoice Line Items
The total of my report fees are equal to $560 ($550 Appraisal Report Fee and $10 Processing Fee), and my total appraiser fees are equal to $125 ($75 to Johnny and $50 to Brenda).
Please note that the $75 owed to Johnny has been assigned to him directly within the "Appraisal Report Fee" line.
Because there are 3 different fee lines on the details page for this order, there will be 3 rows associated with this order on my custom report when I select the relevant options.
The Invoice Line Item Amount column shows the rate for each fee added on the details page. We have a line for Brenda's appraiser fee ($50), one for the report fee ($550), and one for the processing fee ($10).
The Invoice Line Item Appraiser Fee column shows you the amount owed to the appraiser assigned to that fee line, if applicable. Brenda's fee is $50 and Johnny's fee is $75.
Invoice Line Item Assignee shows the appraiser that's assigned to that fee line. If it's unassigned it will be left blank.
Invoice Line Item Commission Rate, Commission Type and Item Description are also viewable in your custom reports. The last column for this example is Invoice Line Item Billable. This tells you if each line is being charged/billed to the client or not.
Reporting Your Expenses
There are 2 options under the Expense column when creating a custom report:
Expense: Description - The description or name of any expenses on an appraisal.
Expense: Rate - The rate or amount of the expense.
Example of Reporting Your Expenses
For this example I just have one expense set up on my appraisal; it's a Tech Fee for $15.
When I have the Expense > Description and Expense > Rate columns selected for my Custom Detailed Report, I can see the description or title of that expense (Tech Fee), as well as the rate ($15).
There are a few important things to note regarding Expenses and Custom Reporting:
Expenses behave exactly like Invoice Line Items. In other words, if there are multiple expenses on one order, you will see a row on your custom report for each individual fee. For example, "86 South Dr" has 2 expenses which are both represented on the custom report.
All appraiser fees in custom reports will be calculated after expenses if your settings are configured accordingly. For the full details on Client Tech Fees and Expenses, click here.
Reporting Your Order Fees
To provide more clarity regarding how fees work in custom reports, we'll go through a few additional fee fields that can be selected.
Order: Appraiser Fee - This is the total amount of appraiser fees on a particular appraisal. If there are multiple appraiser fees, the sum of those fees will be shown here.
Order: Report Fee - This is the total amount you see directly under the "Report Fee" header in the Fees & Costs section. This is the total amount of fees that are being billed to the client.
Order: Net Fee - [Total Report Fees - Total Appraiser Fees = Net Fee]
Example of Reporting Your Order Fees
The total of my report fees are equal to $543.75 ($535 Appraisal Report Fee and $8.75 Processing Fee), and my total appraiser fees are equal to $124.20 ($64.20 to Johnny and $60 to Brenda).
Please note that the $64.20 (12% of $535) owed to Johnny has been assigned to him and calculated directly within the "Appraisal Report Fee" line.
The first columns we'll look at are Appraiser Fee, Report Fee and Net Fee. Since these columns represent order totals, the amounts will be the same for each row.
Appraiser Fee = $124.20 = $64.20 (Johnny) + $60 (Brenda)
Report Fee = $543.75 = $535 (Appraisal Report Fee) + $8.75 (Processing Fee)
Net Fee = $419.55 = $543.75 (Report Fee) - $124.20 (Appraiser Fee)
Please Note: Brenda's Appraiser Fee of $60 isn't included in the Order: Report Fee because it's not a billable fee (the client isn't being invoiced for it).
To learn more about creating a Detailed Custom Report, click here.