Payment forms come in three shapes on a small business site, and each has its own arithmetic mistake waiting. The deposit form charges a fixed amount and the owner forgets the processor's fixed fee comes off every one. The invoice payment form charges whatever the customer types and the owner forgets that a partial payment still pays the full fee. The product form multiplies a price by a quantity and adds an option, and the owner forgets the sales tax is on the option too. This page takes the three in turn and works each on the free payment form calculator, so the charge, the processor's cut and what reaches the account are known for every shape before it goes on the page.
The deposit form: one amount, one fee
A fixed deposit is the simplest payment form: a line with a quantity of one and no option. On the calculator a $120 deposit with no tax at 2.9% plus $0.30 has the processor keeping $3.78 and $116.22 reaching the account, and the fixed fee is the part the owner forgets, because on a small deposit it is the larger share. Switch the last input to the customer paying the fee and the charge is grossed up so the whole deposit lands; whether you may do that is your processor's terms.
The product form: lines, quantities, an option and the tax
Two of a $45 product and one of a $120 product with a $15 gift-wrap option is a $225 subtotal, and at 8.25% sales tax the product form charges $243.56. The processor keeps $7.36 and $236.20 reaches the account; after the $18.56 of tax is remitted, $217.64 stays. The tax is on the option as well as the lines, which is the second thing the owner forgets, and the calculator applies it to the subtotal as a whole. Your own rate replaces the worked example's.
The invoice payment form: whatever they type, the fee is the same shape
An invoice payment form has the amount as an input rather than a line, and the customer may pay part of it. The processor's percentage scales with the part paid but the fixed fee does not, so two half payments cost two fixed fees. The calculator shows this: enter the part as the line price with a quantity of one and read the cut. Each payment is an entry with its amount and the invoice it was against in Shortcodo Pro, so a partly paid invoice is a status and not a reconciliation.
Questions people ask about payment forms
Which of the payment forms should charge sales tax?
The one selling a taxable thing in a place where you are registered to collect it. The calculator takes any rate and publishes none; the question is your registration's and your accountant's.
Can a payment form pass the processor's fee to the customer?
The calculator works it either way: absorbed or added to the charge. Whether you may add it and how it must be shown is your processor's terms and your state's rule.
Does the register take payments?
Shortcodo Pro connects your own processor so a payment form's entry carries the payment, the cut and what reached you, beside the sender and the form.