Overview of Credit Card Fee Management
FlowerBuddy suggests incorporating credit card fees into your pricing to ensure they do not affect your profit margins. This is done by adding a small percentage to cover potential fees from payment processors like Stripe.
Default Method to Handle Credit Card Fees
Navigate to the 'Details' tab of your event.
Under 'Multipliers, Rates, and Overheads', FlowerBuddy automatically calculates and suggests incorporating a 3% fee to cover Stripe credit card processing fees.
Alternative Method to Pass Credit Card Fees to Clients
This method involves manually adding credit card fees to payments as needed, allowing for clearer client communication and specific fee management per transaction.
Step-by-Step Guide to Passing Along Credit Card Fees
Step 1: Disable Web Payments
From the 'Payments' tab, ensure 'Enable Web Payments' is turned off to prevent premature credit card payments without added fees.
Step 2: Calculate the Credit Card Fee
Calculate a 3% fee on the payment amount to cover credit card charges (for a $1,000 payment, this would be $30).
Step 3: Add the Credit Card Fee to the Payment
Create a 'Cost Card' titled 'Credit Card Fee for Retainer' and set its price to the calculated fee amount.
Adjust the payment amount to include the credit card fee, ensuring it’s reflected in the total price your client will pay.
Step 4: Re-enable Web Payments
Once the fee is added, turn 'Enable Web Payments' back on to allow the client to make the payment including the fee.
Step 5: Display Fees Clearly to the Client
Ensure that the fee is listed clearly on the 'Proposal' tab and within the payment details so the client understands the additional cost.
Step 6: Manage Subsequent Payments
If additional payments are made via credit card, repeat the steps to calculate and add corresponding fees before enabling web payments again.
Finalizing Payments
After the client makes a credit card payment, disable web payments to update or prepare for future payments, such as those made by check or another method not incurring credit card fees.
Support and Assistance
For further assistance or specific questions about handling credit card fees in FlowerBuddy, reach out via the chat support feature.
Recommendation
While the alternative method provides clear fee management per transaction, it is generally recommended to integrate credit card fees into your overall pricing strategy to simplify transactions and ensure all potential fees are covered regardless of the payment method used.
Written by Tony Guerrie
Updated over a week ago