Script Provides a cost calculator for Schools to quickly and easily figure out how to price an item so that they receive in their account the total amount they want to collect for the item. Gone are the days of trying to account for merchant fees or any other hidden costs.
Calculating a Parent Price
By Default the Script Cost Calculator asks you for the amount you'd like deposited into your account when a particular item is purchased. The cost of using Script (Including Credit Card Fees) are then accounted for and a price for your item is provided.
Because we are calculating the parent price from the desired school revenue parent prices are often not round numbers. For instance if your school wants to collect $10.00 then the parent would be charged $10.79. Most parents prefer seeing prices that are even dollars or half dollars so Script provides a round-up setting on the calculator that will make sure the parent price is always in 50 cent increments.
With the rounding option turned on our parent price goes from $10.79 to $11.00 and the school revenue goes from $10.00 to X.
Manually Set the Parent Price
There may be some cases where there is a specific parent price that you need to set, (mostly in cases where you have already set a price for an item that you now want to sell through Script). In order to accomplish this you can click the gear icon and select 'Manually Set Price'. Enter the desired parent price in the window that appears.
It is important to remember that since you are manually setting the price of the item the Script and Merchant Fees will be taken out of the School Revenue. The total amount the school will receive per item is shown on the cost summary.
A Note on the Math Behind Price Calculation:
Note: The following gets into some math regarding price calculation, the information provided below is simply informational and your are not required to know it to use the Script Calculator. If Math isn't your thing fell free to skip this section!
Due to Script Fees being 4.9% + .30 cents per item there is a repeating pattern of Parent Prices that will net the school the same revenue. This is do to the break-point of the rounding the .9%. As an example if you create an items with a School Revenue of $52.00 the parent price will be $54.99. Now if you use the round up option the parent price will be rounded to $55.00 and the school revenue will stay $52.00. This occurs for the following reason:
The total fees charged went from $2.99 to $3.00 so while the parent price increased one cent. So did the Fees so the school still nets $52.00. When calculating a price without the rounding function Script always will provide the cheapest price for the parent for the revenue the school requires