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So my goal was to charge a customers card to where they paid the square fees and we where being paid a total of $100. The math should be simple 3.5% is $3.50 plus .15 cents is $3.65 totalling $103.65. That's what I charged them. What we actually got was not $100 but $99.87 and the fee was $3.78 . Where is my math wrong here?
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Because you are being charged a fee for the total amount of $103.65. Not just the $100.00! You pay your fee on the total amount you charge your customer.
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It is because you are taking 3.5% of the additional money added also, so you have to take into account for that too.
$3.50 for CC charge
$.15 for swipe on manual
$.13 for the CC charge on the $3.50
so take your total you want to net. Times it by 1.0363 and add $.15. Your net after fees should be what you want.
Example
If manually entering a $100 sale
use 3.63% + $.15
100*1.0363=103.63
103.63+.15=103.78
charge 103.78 and your fee from square will be $3.63 + $.15 netting $100
also check where you are because in many states it is illegal to pass the fee on to the customer even if visa and MasterCard allow it.
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I recall a while back I could charge the fee to the customer and square automatically charge them. am I wrong or did square change how they charge the fee. I know when I first started with square I selected a place that charged the fee to the customer. Now I cannot find it....
HMMMM
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Hello, did you ever found out how to set this up?
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Very helpful. I need help also… I need to talk to a live person at square! I was charged twice, once through square and once through weebly. I can’t seem to get anyone at either company. I’m worried that my customers are being charged twice.
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