Joist Payments makes it easier for your clients to pay you, so you get paid sooner and with less effort.
That convenience comes with a transaction fee, but thankfully Joist has 2 easy ways for you to easily cover that fee so your profits stay protected:
- Cover Payment Processing Fee
- Add a Line Item
Cover Payment Processing Fee
Whenever you have Joist Payments enabled on an estimate or invoice in Joist, you’ll see an option to turn on Cover Payment Processing Fee.
Turn this on, and Joist seamlessly updates the pricing on your document to include the cost of the Joist Payments processing fee.
It does this using our built-in Markup feature, a powerful yet simple tool for ensuring your overhead and profit margins are factored into your estimate or invoice.
You can learn more about how Markup in Joist can help protect your profits here.
The client pays the fee
Turning on Cover Payment Processing Fee means the client is now paying for the cost associated with offering them online payment options like credit card and PayPal.
Depending on the situation, you may wish to discuss this with your client ahead of time.
Also be aware that if you issue clients both an estimate and an invoice, enabling Cover Payment Processing Fee solely on the invoice would present a discrepancy in price.
If you know the client wants to pay online ahead of time, consider enabling Joist Payments and turning on Cover Payment Processing Fee on the estimate you send them as well.
Many clients are happy to pay the processing fee for the added convenience of paying you online with Joist Payments.
Add a Line Item in Joist
If you want the client to see the fee on your estimate or invoice, add it as a line item.
You can name the item "credit card fee" or "convenience fee" -- whatever you think will make sense to your client.
Then just calculate what 3% of your total is and make that the cost of the item.
*Make sure to check your local laws to ensure that including any portion of a payment processing fee on an estimate or invoice is permitted in your area.