How does infoodle handle credit card fees?

Managing the reconciling of donations received via an infoodle form using a gateway or payment method (for example Stripe, or Paypal) that takes fees off before the funds can be difficult.

We have streamlined this completely to enable you to process either nett value (after fees are deducted) or gross (before fees are deducted).

For example, Stripe charges 2.9% and 30c per transaction, pays out what remains after the fees have been taken. If the total donated was $10 you would receive $9.41 nett in your bank account, which then feeds through to Xero (if you are using Xero).

Infoodle would import the $9.41 and if you have your payment method setup as described here, when infoodle imports the nett amount it will automatically calculate the fee for you and add it to the transaction so that you can issue a receipt to your donor or member for the full amount that they donated including the fee. Calculation is as follows: $10 * (100 - 2.9) / 100 - 0.30 = $9.41 nett, $0.59 fees (round fee to 2 decimal points).

You can set up a percentage fee and / or fixed fee per transaction in the administration area of infoodle by creating or editing an existing payment method so that the fees are automatically calculated for you by infoodle. The fees will be shown in the reconcile screens where required. For information on how to set up credit card fees, see Payment Methods Click here for how to setup the credit card fees.

Let's look at how this works in principle:

1. The donor completes an infoodle form and makes a payment.

2. The form is approved in infoodle by a user who has the correct permissions to do so.

3. The invoice is created in Xero (optional).

4. The funds arrive into infoodle (imported from Xero).

5. Reconcile the imported data.

6. A recurring pledge date is hit.

Click here for how to set up the credit card fees (infoodle can automatically calculate it for you).