Formula to calculate Sale Transaction Fees?
Hi,
I am having trouble deriving the formula for sale transaction fees (for use in my personal app) and I was hoping to find out exactly how it is calculated.
I had two sales tonight: sale A was for $3.95, and sale B was for $3.60. Using 8.95% of the total, the calculated fees should have been $0.35 and $0.32, respectively. However, I was charged $0.33 for the first sale. I was able to reproduce this number by calculating the fee on each item individually, but this method produces a fee of $0.30 for the second order. Obviously I am missing a step. Could you provide me with the exact process used? Thanks so much!
I am having trouble deriving the formula for sale transaction fees (for use in my personal app) and I was hoping to find out exactly how it is calculated.
I had two sales tonight: sale A was for $3.95, and sale B was for $3.60. Using 8.95% of the total, the calculated fees should have been $0.35 and $0.32, respectively. However, I was charged $0.33 for the first sale. I was able to reproduce this number by calculating the fee on each item individually, but this method produces a fee of $0.30 for the second order. Obviously I am missing a step. Could you provide me with the exact process used? Thanks so much!
Comments
Price * (1 + tax rate) = total
round(Total) - price = tax.
(Round to 2 places, tax rate can be xaction fee.)
But I'm still not getting .03 difference.