Minimum Deposit Amount
During the order process, orders must be converted to a Reservation before inventory is reserved for the event and made unavailable for other orders. For some business owners, it is important to charge a Deposit prior to reserving inventory for the customer. In TapGoods PRO, users can set up a Minimum Deposit Amount that customers must pay before the Quote can be converted to a Reservation.
The Minimum Deposit Amount setting is located in Order Settings, which are found under Admin on the system dashboard.
Minimum Deposit Amount is located underneath the Minimum Order Amount for Storefront and Marketplace setting.
To change the Minimum Deposit Amount, click the dropdown arrow next to the setting.
The Minimum Deposit Amount prevents Quotes from converting to a Reservation without a minimum deposit paid to the TapGoods PRO user. Users can set…
- Fixed Fee: This Fee will be an amount of money set by the TapGoods PRO user that stays consistent across ALL Orders. A Fixed Fee will be the same rate for all Orders, regardless of the order size or price.
- % of Sales: This Fee calculates the deposit with a percentage inputted by the TapGoods PRO user (i.e., The customer must pay 50% of the total cost of the order).
TapGoods PRO users can set both a Fixed Fee and % of Sales. This will set a consistent rate across all Orders; additionally, TapGoods PRO will calculate the Percentage required to be deposited. Although the Minimum Deposit Amount will default across all new Orders, you can change the Minimum Deposit Amount on individual Orders in the Options, Discounts & Fees tab of the Order Form.
**Note: If the deposit amount exceeds the order total, the Customer will be required to pay the order in full.**
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