A Breakdown of All the Fees
To understand how fees are calculated, we need to break down all the fees involved:
Accelevents Fixed Fee (for Free and Starter) = $1
Accelevents % (of ticket price) (for Free and Starter) = 3% = 0.03
Stripe/Square Fixed Fee = $0.30
Stripe/Square % (per transaction) = 2.9% = 0.029
*If your contract has different fees stated, the formula stays the same. Just replace the Accelevents fixed fee amount and Accelevents percentage.
Absorb or Pass the Fees
Accelevents allows you to have your ticket purchasers pay the Stripe/Square credit card processor fees and Accelevents percentage themselves as a part of their checkout process, meaning this cost will not impact the cost of your event. However, it will increase the buyer's total payment.
When you pass the fees to the ticket buyer, the fee is added on top of the ticket price, thus increasing the final payment amount charged to the ticket buyer.
However, as you increase the total amount you ask Stripe/Square to charge, you're also increasing the Stripe fee because Stripe's pricing is a flat fee plus a percentage of the total charge amount. You'll need to figure out what gross amount you need to charge such that, after Stripe deducts its fee, you receive some predictable net amount.
To save you some time, the calculation to determine that amount looks like this:
The total charge is the amount to be paid by the ticket buyer.
In the US (assuming standard US pricing of 2.9% + 30¢ per successful charge):
Here's an example of how to compute the price breakdown if the fees are passed on to the ticket buyer:
Ticket Price = $10
Accelevents Fixed Fee (for Free and Starter) = $1
Accelevents % (of ticket price) (For Free and Starter) = 3% = 0.03
Stripe/Square Fixed Fee = $0.30
Stripe/Square % (per transaction) = 2.9% = 0.029
Computation for Total Charge:
Ticket Price + AE Fixed + AE % + Stripe Fixed / (1 - Stripe %) = Total Charge
($10 + $1 + $0.30 + $0.30) / .971 = $11.95
Computation for Total Fees:
Total charge - Ticket Price = Total Fees
$11.95 - $10 = $1.95
Breakdown of Fees:
AE Fees: $1 + ($10 x 3%) = $1.30
Stripe Fees: (total fees $1.95) - (AE fee $1.30) = $0.65
Here's an example of how to compute the price breakdown if the event organizer absorbs the fees:
Ticket Price = $10
Accelevents Fixed Fee (for Free and Starter) = $1
Accelevents % (of ticket price) (for Free and Starter) = 3% = 0.03
Stripe/Square Fixed Fee = $0.30
Stripe/Square % (per transaction) = 2.9% = 0.029
We already know the total charge will be the ticket price since we're not adding fees on top of the ticket price. So we will only compute the fees.
Computation for Total Fees:
AE Fixed + AE % + Stripe Fixed + Stripe % = Total Fees
$1 + ($10 x .03) + $0.30 + ($10 x .029) = $1.89
Breakdown of Fees:
AE Fees: $1 + ($10 x 3%) = $1.30
Stripe Fees: (total fees $1.89) - (AE fee $1.30) = $0.59
Downloadable Report With Fee Breakdown
You'll see a column for the fees if you download the Ticket Buyer Data or Ticket Buyers Order Summary.
For Ticket Buyer Data - Go to Attendees > Orders > Download
For Ticket Buyers Order Summary - Go to Analytics > Downloadable Reports
For more information on Square's fee, please click HERE
For more information on Stripe's fee, please click HERE