When you enable online payments (BQE ePayments) in CORE and your clients decide to pay via credit card or ACH, a small percentage of the transaction is charged as a processing fee. Though subject to change, the processing fee is calculated as 3.29% of the transaction amount + $0.25 for credit card payments and a flat rate $8.00 for ACH transfers. These are the default values and are automatically passed on to the client. Those with existing values for fixed processing fee for credit card and processing fee % for ACH will continue to see the relevant values.
You may choose to pass this processing fee to your clients by enabling this option in the Settings > ePayments screen in CORE. When you enable the processing fee, CORE automatically populates the actual processing fee percentage in case of credit cards and the processing fee amount in case of ACH. You can choose the relevant account and CORE reflects the processing fee in the same account. After the payment is deposited in your bank account, you should see the processing fee in the relevant deposit created by CORE.
Note: CORE prefills the processing charges applicable to you. You can change it to any lower value if you want, but it does not allow you to exceed the default charges.
Example: Here is an example that shows the calculations when you choose to pass the processing fee to your clients:
Invoice Amount: $1000.00
For CC: 3.29% + $0.25
For ACH: $8.00
Total Payment Amount Due = $1034.27 [(Invoice Amount / (1 - Pass through %)) + Pass through ($)]
Pass through Fee = $34.27 [(Pass through % x Invoice Amount / (1 - Pass through %)) + Pass through ($)]
In case no pass-through fees is associated with the invoice:
Total Payment Amount Due = Invoice Amount