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Passing through credit card fees

Rick Root

I've been asked to investigate a way to pass through credit card fees to our schools and units, giving them “net revenue”

In otherwords, if a donor makes a $1000 gift to the Art Museum, we want to only post $975 (assuming a 2.5% credit card fee). to their account.

I don't think that's possible and we'd have to do a charge back method instead, my my boss would prefer to only send net revenue if we can.

Thoughts?

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Comments

Sara Anne Boddery

@Rick Root You could use gift fees, and configure to only apply to credit card transactions. That would be a blanket % regardless of card type, unless you wanted to customize further. You could sent those fees to a specific ledger account or split per unit depending on your GL setup.

Rick Root

@Sara Anne Boddery But the gift fee functionality doesn't send the full amount of the transaction to the designated fund, right?

Sara Anne Boddery

@Rick Root Gift fees work a lot like benefits in that in the CRM display the full amount of the gift or application on the designation, but you get GL lines for the gift fee amount that would support your feed to the ledger. You'd probably still have to have a custom ptgl file to and/or whatever type of integration you have.