Your Online Division Revenues Report

It Documents All Revenues That Enter Your Division


Detailed Explanation of Your Division Revenues Report

  • Examine a Sample Division Revenues Report

    • Click this link to open the Sample Division Revenues Report in a separate browser window.

    • Now you can toggle back and forth as we address each item in the Division Revenues Report.

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  • Upper Left Corner
    • Division
      The Division Manager's name is John Q Contractor      .

    • Report ID
      Each report has a unique serial number.

    • Report Date
      Date the report was generated.

    • Service Fee:
      The P.A.C.E. administrative service fee is 6% of collected revenues.

     

  • Upper Right Corner
    • Beginning Account Balance:
      In this example the beginning account balance is zero. Most Division Managers prefer to carry a zero balance in their division's account. However, John Q Contractor may elect to carry a positive balance to cover, for example, group insurance premiums that may come due during an extended period when his division has no revenues such as an extended vacation or downtime between contract assignments.

    • Total Gross Revenues:
      Revenues are reported as hourly revenues, as non-hourly revenues, or both. In this example, P.A.C.E. has collected $16,000 for John Q Contractor's division since his last payroll.

    • Service Fee:
      P.A.C.E. charges your division a fixed service fee of 6% to be your employer of record, and to manage the back office tasks of invoicing, collections, payroll, and benefits administration. In this example, 6% of $16,000 is $960. This amount is deducted from John Q Contractor's revenues and transferred to P.A.C.E.'s general account.

      The P.A.C.E. service fee is the only income that P.A.C.E. receives from the Contract Professional for all that P.A.C.E. does.

    • Referral Reward:
      For every Contract Professional who identifies you as the reason they joined PA.C.E., P.A.C.E. will pay you a monthly Referral Reward equal to one percent of that contractor's collected revenues for as long as both of you are actively billing through P.A.C.E.

      A Division Manager may earn any number of 1% referral rewards. There is no upper limit to the number of referral rewards you can earn, making it possible for Division Managers who refer several new Contract Professionals to earn enough from referrals to offset the P.A.C.E. service fee entirely, making P.A.C.E. effectively a FREE service. Refer even more Contract Professionals and P.A.C.E. Solo W-2™ becomes BETTER THAN FREE.

      This month John Q Contractor's referral rewards totaled $150, effectively reducing the P.A.C.E. service fee from 6% to 5.06%. The Division Revenues Report shows that P.A.C.E. has transferred $150 from its general account to John Q Contractor's division account. Referral rewards do NOT come out of referred contractors' revenues.

    • Ending Account Balance:
      The ending account balance on the Division Revenues Report equals gross revenues minus P.A.C.E.'s 6% management fee plus any Referral Rebates earned by the Division Manager. A total of $15,190 is now available in John Q Contractor's division account to pay division expenses and payroll.

     

  • Notes

    • The notes section contains messages from your Division Administrator. In this example, the notes section documents that John Q Contractor's referral reward is based on revenues earned by Jane Smith's division during the month of January, 2005.

     

  • Gross Revenues Details

    • This section itemizes the billing information associated with collected revenues.

    • In this example there is only one client, one project, and one billing rate. If there had been multiple sources of revenue, each would appear as a separate line item.

    • QTY: The collected revenues represent 160 hours of invoiced services by John Q Contractor. Contractors may elect to invoice weekly, bi-weekly, half-monthly, monthly, irregularly, by the milestone, or by the project.

    • Description
      Identifies the following:

      • Invoiced work was performed by John Q Contractor.

      • Work performed was technical services.

      • The client was Jerzy, Inc.

      • The work was performed between January 1 and January 31, 2005.

    • Price
      In this example, John Q Contractor billed $100 per hour. He might have billed also by the milestone or by the project.

    • Total
      P.A.C.E. invoiced the client Jerzy, Inc. for $16,000.

    • Payment
      P.A.C.E. received payment of $16,000.

    • Total Gross Revenues
      This is the sum of all collected revenues since the last payroll across all line items in the Gross Revenues Details section.

     

  • Bottom of the Page

    • Asterisk (*)
      Identifies a line item for which the P.A.C.E. service fee does not apply. For example, P.A.C.E. does not charge a service fee on pass-through expenses (travel costs, minor purchases, etc.) invoiced by P.A.C.E. and reimbursed by the client.

    • Dagger (†)
      Identifies line items for which P.A.C.E. received partial payment against an invoiced amount.

    • Entered By
      John Q Contractor's Division Administrator is Sara Wilkison. Her name appears at the bottom of every page.

     

  • Now Proceed to a Detailed Explanation of the Division Payout Report

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