Properly disclose ALL transaction fees in the primary account

Ideas
1

TroopTrack is under reporting transaction fee’s in the Primary Account.

As an example: When I look at a recent $15 event for a scout.

On stripe it shows they charged $16.01 to the scout for the event when the processed the credit card.

In TroopTrack, it is showing $15.76

The settings in troop track are .30 cents flat fee (to Stripe), 25 cents flat fee to TroopTrack and 2.9% of the event.

Here is what they are doing. The credit card processer is taking every advantage they can and never rounding down.

They are summing, the $15 + the .30 + the .25 and then multiplying by 1.029

This comes to 16.00095

In math class, we learned that this number when taken to two decimal places is $16.00

In business math, they chose to never round down, any portion of a penny is rounded up to the next highest penny.

Not to mention they should not be charging the 2.9% on top of the transaction fees. The fee should be $15 * .029 and not $15.55 * .029. That is double dipping.

This would make more sense if TroopTrack showed $16.01 in the Primary Account and disclosed all the transaction fees as part of the transaction. The $15.76 represents the fee for the event, plus the fee for Stripe (the .30 and the 2.9%) but does not show the .25 cents that goes to TroopTrack.

It would be great if TroopTrack were more transparent about this. It would also make it much easier to reconcile the TroopTrack transactions against what Stripe and the bank are showing.

2 Likes
2

@sstrunk,

Thanks Steve, great post!!!

We use Stripe as well. I don’t like seeing the transaction fees listed in the troop accounts, even though the parents are paying for them. I have requested that CCs be limited to deposits in scout accounts.

This makes it easy for everyone- parents use CC to make deposits in the scout accounts. Parents see the transaction fees (except the .25 from TT) in the scout account. Scout accounts are used to pay for events and dues. Troop sees no processing fees when looking at the event ledger :):):slight_smile:

Like you, I would also like to see a better description in the ledger on what the fees cover.

Adding @mlsully2002 and @dave- so this can be brought to their attention.

Everyone is happy :slight_smile:

Regards,

Scott