How to Read Your Tax Invoice

Tax Invoice Sample

33KB

RaffleLink Invoice Sample.pdf

pdf

Understanding Key Lines

Total Raffle Revenue: $4,695.13

• This is the complete gross amount including:

  • Credit card sales through RaffleLink

  • Cash sales collected by your organization

  • Service fee contributions from buyers

Total Credit/Debit Card Sales: $4,430.00

• Represents all credit card transactions processed through RaffleLink

• These funds are held by RaffleLink until disbursement

Total Service Fee (including GST): -$243.65

• Calculated as 5.5% of total credit card sales

• In this example: $4,430.00 × 5.5% = $243.65

• Deducted from credit card sales

Raffle Service Fee Assistance: $190.13

• Donations received from buyers to help cover service fees

• Added back to your total

Total Amount Paid: $4,376.48

• Final amount transferred to your bank account

Reconciliation Formula

To reconcile Total Raffle Revenue ($4,695.13):

1. Start with Total Amount Paid: $4,376.48

2. Add back Service Fee: +$243.65

3. Add any Activation Fees: +$0.00

4. Add Cash Sales collected separately: +$75.00 (calculated as difference)

$4,376.48 + $243.65 + $0.00 + $75.00 = $4,695.13 (Total Raffle Revenue)