When to Accept Credit Cards

I have been trying to avoid thinking about when the best time is for Cafe Evoke Catering to begin accepting credit cards. I have had several people request to pay via credit card so I have begun looking into it more. I found that I can get credit card processing service from QuickBooks which may be a nice option for us. I looked into this more when I was on the verge of opening Cafe Evoke (the coffee house) a year or so ago and found that the monthly rentals and processing fees would be tough for our catering company to handle. With QuickBooks Processing, here is how it would break down: $17.95 per month 1.76%/2.44% processing fee $59.00 set up fee $0.23 preauthorization set up fee $0.00-$20.00 montly minimum fee I do have questions, however. Why do I get charged $17.95 per month and then have to pay another fee up to $20.00? This second fee is a fee that says if you do not get to $20.00 per month is processing fees, you must pay the difference. That is crazy - I am alreayd paying that each month anyway! So, here are some calcuations: Our average party price is $400.00. Our fee for processing is 2.44% plus a $0.23 authorization fee. So, here is what it would look like per event. 400.00 - 2.44% = $390.24 - $.23 = 390.01 The rest of the fees would be taken out as well but that would change depending on how many events we had each month. We would get a lower rate if we swiped the card (not sure why) but then we would have to have a "swiper" which would cost us some money. I was then looking around at QuickBooks' other products and saw their kit. The kit is $39.00 upfront, $14.95 per month (you get two months free), the processing fee is 2.69%, there are no montly minimums. At quick glance, this seems to be a better deal than the other which is crazy to me because you would think a customer using QuickBooks Pro would get a discount on processing. I am still not sure if it is worth us having another month fixed cost. I will continue to explore this option. ...be bold Tagged: cafe evoke, coffee catering, coffee, espresso, tea, bozeman, montana The Global Exchange Fair Trade Store is your Online Source for Socially Conscious Gifts