This article will guide you through understanding PDC fees and their associated transaction fees on your Remit Report.
NOTE: For general information about the Remit Report and how to access it, please refer to our Remit Introduction article.
For this article, we will review an example with how PDC fees and their associated transaction fees are calculated in your report.
1. PDC Fees
PDC funds collected are shown in the PDC column of the Summary tab. PDC funds collected are divided into:
- PDC Direct - past due invoice amounts collected
- PDC Late - late fees that are collected
ClubReady's fees for PDC Direct collections are separate and different from PDC Late collections.
In this example, ClubReady has collected $368.00 as shown below. Of the $368.00 collected, $328.00 is PDC Direct and $40.00 is PDC Late.
In this example, ClubReady's PDC Direct fee is 25%. Since $328.00 was collected, ClubReady's fee for that collection is $328.00 * .25 = $82.00 as shown here.
ClubReady then credits back to you the transaction fee for that $82.00. The transaction fee assessed was 3% so ClubReady credits back $82.00 * .03 = $2.46 as shown here.
Continuing with this example, ClubReady keeps 100% of PDC Late fees collected. In this case $40.00 in late fees were collected.
ClubReady then credits back to you the transaction fee for that $40.00. The transaction fee assessed was 3.35% so ClubReady credits back $40.00 * .0335 = $1.34 as shown here.
2. PDC Transaction Fees
Transaction fees assessed for PDC funds collected can be found at the intersection of the ClubReady Transaction Fees row and the PDC column on the Summary tab as shown here. In this example, the transaction fees associated with PDC funds collected are $11.18.
The details of what makes up the $11.18 in PDC transaction fees are found on the Transaction Fees tab.
On the Transaction Fees tab you can see that the $11.18 of PDC transaction fees are made up of a $9.84 fee for Up Front invoices collected and $1.34 in Draft fees collected.
Note that a portion of these fees are credited back to you on the Fees tab. See the PDC Fees section above.