How to absorb or offset the service fee
RaceID gives you as an organiser full control over your pricing. We have therefore a feature where you can choose to either absorb or offset the price of the service fee (a fee charged for each registration) when using the RaceID platform.
The setting can be turned on or off with a simple click. This fee is pre-set to be offset meaning that the participants are charged for the fee when a they sign up to events on the platform during the check out process.
Where can I find the service fee and the toggle?
The service fee is found in the RaceID admin, by clicking on your name in the top right corner. You will find the information about the fee and the toggle in the section "Commission details".
How does the toggle work?
By clicking on the toggle next to the text "Absorb Service Fee" you choose if you want to absorb or offset the Service Fee.
- If the toggle is set to the right (Yellow) means that you (the organiser) have chosen to Absorb the fee and will pay this as a fixed commission on all registrations.
- If the toggle is set to the left (Grey) means that the participant will pay for the Service fee in the registration process.
What is the Service fee and what about free registrations?
The service fee is a fixed charge that is charged for each registration.
In instances where a registration do not incur a transaction, the service fee will be charged as a fixed commission for you as an organiser. All fees not charged to participants will be shown on your monthly statement in the RaceID admin.
How will the setting of the Service fee impact financial reporting?
The monthly statements will be look a bit different depending on if you choose to absorb or offset the Service fee.
When absorbed: When you absorb the service fee you will see all Service Fees on the invoice section in the financial reporting.
When offset: Then all Service fees that are relating to a transaction made on the participant side will be excluded in all reports. You will therefore only see and be charged for Service fees relating to registrations without a transaction on the participant side.