How to derive/calculate 3% Admin Fee as an Invoice Line of the Total Billing Amount?

Summary:

How to derive/calculate 3% Admin Fee as an Invoice Line of the Total Billing Amount.

I have a requirement to create Project billing based on Total Burdened Costs and I am using the Burdened Schedule for that. Also, another requirement to calculate 3% of the Total Burdened Costs as Admn Fees.

How can we accomplish this automatically (we can do this through event billing with a manual calculation). Is there standard Fee calculation feature to address this?

Any input would be appreciated.

Thanks

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