Gross & net donations received, processing fees & more!
We understand reconciling reports & data throughout the month can be a hassle, so we've tried to make it as easy as possible! 💃
Harness has created this payout report in your Admin Dashboard that searches Stripe for the donation data (ex: amount given) & adds Harness donor data (ex: donor name, email, etc.) to it.
These payout reports will appear in your Dashboard according to the payout deposits you receive into your bank - determined by the payout timeline you established in Stripe.
UNDERSTANDING YOUR REPORT
Data Fields (Column):
Donation Date (A)
Donation Time (B)
Donor First Name (C)
Donor Last Name (D)
Donor Email (E)
Harness Donor - "TRUE" or blank (F)
Donation Type - One-Time, Monthly or Round-Up (G)
Charity Name (H)
Charity ID (I)
Campaign Designation - Campaign Name or blank if unrestricted (J)
Honoree (K) *in honor/memory donation only
From Name (L) *in honor/memory donation only
Honor Message (M) *in honor/memory donation only
Description - Invoice ID (N)
Net Donation - Total you received after Stripe's processing fee withdrawn (O)
Fees Covered - Total fee donor covered for you (P)
Stripe Fee - Processing fee Stripe charged (Q)
Platform Fee - Harness processing fee (R) *if applicable to your Harness subscription plan
Total Gross Donation - Total amount donor gave (S)
Payment Type (T)
Brand - ex: AmEx, MC, Via (U)
Exp Month (V)
Exp Year (W)
Last 4 Card Digits (X)
I know what you're thinking...what in the world is that?! 👆 That's the equation Stripe uses to calculate the cover fee - crazy, huh? Don't worry! We know it's a pretty complex equation for something as simple as covering process fees, but processing fees can be tricky like that and we want to ensure your donor covers all of the fees so that 100% of their intended donation amount can go to your organization. 👍
To include the Stripe fee in the final charge, calculate the gross amount, taking into consideration that increasing the final amount also increases the Stripe fee: the Stripe fee is a flat fee plus a percentage of the total charge. The flat fee and the total charge percentage must be factored into the final charge amount to ensure that you receive the desired amount, after Stripe deducts the fee from the charge.
If this is you right now 👆 hang in there just a few more minutes...
Stripe charges a competitive, standard processing fee of 2.9% + $.30 on each transaction (exception: AmEx - 3.5%). If you apply & are approved for Stripe's non-profit discount, that processing fee drops to 2.2% + $.30.
Depending on your Harness subscription, your Harness platform processing fee will be either 0%, 1% or 3% in addition to Stripe's processing fee. (Statistically, on average, 90% of donors cover this total fee for you.)
Because Stripe charges their processing fee on the TOTAL donated (intended donation + processing fee recommended/covered by your donor), it is easiest to work backward in understanding your donor's recommended cover fee.
Let's say a donor gave a total of $51.94 (covering your processing fee for you)
You've been approved for Stripe's non-profit rate at 2.2% + $.30
Your Harness platform fee = 1%
In this example, your payout report would read:
Column Q (Stripe Fee) = $1.44
Column R (Harness Platform Fee) = $.50
Column Q + R = Column P = $1.94
Column P (Total Fees Donor Covered - Harness + Stripe) = $1.94
Column S (Total Gross Donated) = $51.94
Column O (Total Net Received) = $50.00