NESFA^® Treasury Procedures: Boskone^® Credit Card Fees

In principle, each Boskone should pay NESFA the credit card fees for each transaction.  In practice, life's too short to track things that carefully, so we make use of a rough and ready approximation.  SR 2.7(14)M states:  The NESFA Treasurer shall, for each Boskone, determine a uniform percentage for charging credit card fees; after the convention, in lieu of any other charges for credit card fees, a single charge will be levied based on this rate and the total amount of credit card payments made to that convention. 

For several years Boskone paid all credit card fees for the month of February regardless of whether they were for NESFA Sales, NESFA dues, or Boskone, and NESFA paid all fees for the rest of the year.  (This supposed that all at-con charges appear in February and that NESFA Sales February charges are roughly equal to Boskone's membership charges in other months.  This may have been true for some years, but was not true in 2010-2012.)

Another approximation is to compute the total Boskone income derived from credit card and PayPal payments and merely compute a percentage of that.  This procedure was used for Boskone 48 and the percentage used was 3%, and for Boskone 49 it was 6.82%.

In either case, the amount of money should be transferred with a transaction like this:

• Dr AS-Bnn
•    Cr SE-PmtCardFees
•       Credit card and PayPal fees for Boskone nn