We understand reconciling reports & data throughout the month can be a hassle, so we've tried to make it as easy as possible so you'll be feeling like this by the time you're done! 💃
THE BASICS
As Stripe does not offer a comprehensive payout report featuring donation AND donor data (we know 🤦♂️ we've requested them to do so), 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.
*Important Note: Harness Admin Dashboard payout report can only show the last 50 payouts. We encourage you to download/save your payout reports as they appear so you can reference older payouts for future reconciliations.
UNDERSTANDING YOUR REPORT
Data Interpretation
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.
Stripe now charges a 0.5% fee for every recurring charge processed on the account (in addition to the processing fees charged separately). Because Stripe charges this separately, this is referenced separately (as a separate payout report/separate line item) as "Billing [date] subscription(s)". Harness includes this 0.5% fee in the total fee coverage option for donors during the checkout process.
Depending on your Harness subscription, your Harness platform processing fee will be either 1% or 3% in addition to Stripe's processing fee. (Statistically, on average, 90% of donors cover this total fee for you.) (Legacy clients, please contact your Customer Success Specialist for confirmation.)
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.
For example:
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:
Stripe Fee = $1.44
(Harness) Platform Fee = $.50
Fees Paid by Donor - Harness + Stripe = $1.94
Total Gross Donation = $51.94
(Total) Net Donation = $50.00
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*Note: Your Harness Admin Dashboard Payout Report tab can only show the last 50 payout reports you've received. We encourage you to download & save reports as they are deposited/created for easy future reference. If you need to reference a payout beyond the last 50, please refer to your Stripe Admin Dashboard payout reports.