Requirements
Inserted merchant processing fees on the Financial Cost - Merchant Processing Fees tab on the configuration sheetBackground
Keeping track ofmerchant processing fees
is crucial in your business. It is a significant expense that directly affects your profitability on an customer, order and product level and is included as part our COGS (Cost of Goods Sold) and Gross Profit metrics.
Steps
-
Input your Merchant Processing Fees within your Configuration Sheet
- Go to the Financial Cost - Merchant Processing Fees Tab
- Enter the below:
- category = Financial
- channel
- expense_channel = Merchant Processing Fees
- region - If the region you want to add is not a part of the drop down, please let the team know and we will add it.
- payment processor
- fixed cost/order - This is your fixed merchant processing fees per order
- variable cost/order - This number (usually a percent) is multiplied by the total_revenue of the order and rounded to 2 decimal places.
- The variable cost/order + fixed cost per order will give you the total merchant processing fee for the order
- date_start
- date_end
- Please let the SourceMedium team know that you’ve inputted the merchant processing fee rates by vendor we will enable costs to be picked up automatically moving forward. Historical data can be inputted into this sheet to update the costs of prior orders as well.
How and where will it surface in the dashboard?
What tables are these costs currently available:
Executive Summary
Executive Summary
- Called
merchant processing fees
LTV & Retention
LTV & Retention
- Called
allocated merchant processing fees / cumulative allocated merchant processing fees
Orders
Orders
- Called
merchant processing fees
- Merchant Processing fees are at the orders level so each order will contain the merchant processing fee as the fixed cost and/or variable cost you enter on the configuration sheet
payment processor
is available in the Orders data
- Merchant Processing fees are at the orders level so each order will contain the merchant processing fee as the fixed cost and/or variable cost you enter on the configuration sheet
Product Performance
Product Performance
- Called
allocated merchant processing fees
- If the merchant processing fee per order is a fixed $.30 and 5% variable and there were 5 products in an order, it will show up divided amongst the 5 products