Summary
There are three common approaches to manage fees; The parent pays the price inclusive of fees, pass fees onto the purchaser, or you can absorb the fees.
Solution
The following are examples for each approach where the school collects $10 for a Museum Field Trip in Canada.
Most common: You can set the “Parent Pays” price to include fees
Set the “You Collect” field to $10. This will automatically set the Parent Pays field to $10.91. You will collect $10 for each item sold, which goes directly into your bank account.
You can pass fees on to the purchaser
Set the “You Collect” to $10. Go into the ticket settings gear and select pass fees on to the parent. This will show parents the $10 charge and breaks out the fees and any applicable taxes, resulting in the final “Parent Pays” price of $10.91.
You can absorb the fees
Set the “Parent Pays” to $10. This will automatically set the “You Collect” value to $9.15. You will receive $9.15 for each item sold, which goes directly into your bank account.
Detailed explanations of each option
Most common: Set the “Parent Pays” price to include fees
You may choose to build the processing fees into your pricing. All respondents will pay the same amount regardless of their preferred payment method (online or by cash or cheque). This encourages your respondents to pay online and reduces the opportunity for theft or payment tracking errors.
When setting up your payment options, first enter the cost in the “You Collect” field. In the “Parent Pays” box, the system will then auto-calculate the amount parents will pay, including processing fees:
Note: Parents will not see what You Collect. They will only see the “Parent Pays” amount when completing the form. Below is an example of what the parents will see when selecting one ticket to the museum.
Note: Processing fees do not apply to cash/cheque payments. Many clients use the surplus from manual payments to cover outstanding payments that take place throughout the year.
Pass fees on to the purchaser
You may choose to charge different prices based on the payment method.
This option will break down the fees clearly for those wishing to pay online. Those that want to pay by cash or cheque will pay the subtotal listed. Those that prefer to pay online will pay the added processing fees.
Absorb the fees
Your school or organization may opt to cover the cost of the processing fees.
When setting up your payment option, first enter the cost in Parent Pays. In the You Collect box, the system will then auto-calculate what you will net on the order after processing fees:
On the parent side, they will only see the amount owed:
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