Financial FAQ's
What payment processor does Showman use and is it secure?
Showman uses Stripe for our payment processing. Here is a link to their website where they give more info about their security: https://stripe.com/docs/security#:~:text=We're a certified PCI,level of security at Stripe. Quoting from their documentation, they are a "PCI Service Provider Level 1, which is the most stringent level of certification available.”
No credit card information is ever seen nor stored on Showman’s servers. All of the payment information is securely handled by Stripe.
To receive direct deposits of entry fee funds, shows will set up their own Stripe Express Account. Shows that already have a payment processor must still create a new Stripe Express Account through the Financial section of their Admin Dashboard.
Is there a cost for processing online payments?
There is a 3.5% processing fee for online payments through Showman. In order to accept payments via credit card, payment processors charge businesses a small processing fee. This is true when getting gas, eating out or shopping online. Most businesses build that cost into their prices, while also factoring in the convenience of getting access to their funds sooner and not having to deal with physical cash or checks.
We've seen the convenience and streamlining of payments bring huge value to show coordinators. We encourage shows to consider this value and build the fee into their costs, but you do have the option to pass it on to exhibitors.
"Showman is AMAZING, I will never host a large show again without using it! In the 5 previous years of hosting this show I am always so stressed out about entry management issues and it was a complete breeze this year! I so enjoyed not having to take payments via 5 different methods, and being able to publish the show book and results for everyone to see in real time was awesome! I 1000% recommended this to everyone!" -Logan Hickerson, 4-H Extension Agent, TN
How do we receive our entry fee funds?
During the setup process, show coordinators can configure an account through Stripe where they would like their funds deposited. Once your Stripe Express Account is set up and verified, we can send deposits directly to your bank account. Deposits typically take one business day to arrive in your bank account. Deposits are sent manually upon your request before your show. Any remaining funds are automatically sent after the show.
Alternatively, we can mail a check, in which case we need a W-9 form filled out.
How do we get money in time for cash payouts?
If you need cash on hand for your show and will require funds sent ahead of time, we recommend closing entries or setting a late fee deadline the Monday before your show weekend, at the latest. That will allow time for exhibitor payments to be processed and available to send in a deposit to your account.
When setting entry deadlines, keep in mind that exhibitor online payments take a few days to clear and then the deposit takes one business day to arrive in your account.
Can we receive offline payments (cash and check) as well?
Yes, you have the option to accept offline payments. Each show sets their own policies for their exhibitors regarding offline payments. Many shows we work with choose to require all entry fees to be paid online to simplify their check in process, but others allow for offline payments leading up to or on the day of the show.
Here are some articles outlining how to record offline payments in Showman:
Record offline payment during Check In
Record offline payment before show
Do we get sent a 1099?
Yes, we are required legally to report the money processed by Showman on behalf of each show by sending a 1099-K. It provides an accurate reporting of the money that was processed for your show, which you can use when filing your taxes either as an individual or as a business or non-profit.
Why do we get sent a 1099? We are a non-profit.
We are required legally to report the money processed by Showman on behalf of each show, which is what the 1099-K shows. This form is required when money is processed for any individual, business or organization, including non-profits. We are not tax experts nor accountants, but non-profit organizations typically submit documentation to the IRS, showing the money brought in, expenses paid out, etc. Your accountant or treasurer may have more information on this if you are able to talk with them about it.
If needed, feel free to reach out directly to Ruth, who handles our finances. Her email is ruth@showman.app.
Do exhibitors get an invoice?
Yes, exhibitors have the option to view or print an invoice during the checkout process. They continue to have access to past invoices through their Showman Profile.
Can we print invoices for all exhibitors?
Yes, show administrators can view or print an invoice for an individual exhibitor from the Exhibitors section or from the Check In section. Or, they can print invoices for all exhibitors at once from the Financial section.
Are payments linked to specific line items in the exhibitor’s invoice?
No, Showman uses a credit based invoice system, meaning exhibitors pay an amount based on the total for all of their entries and other priced items (t-shirts, pens, etc.). That amount paid is then credited to their account. If what they paid is equal to what they owe, their balance is zero. If they add more entries or items, the balance will show the difference as an amount they owe. If they delete entries or items after paying, the balance will show the difference as a credit of money in their account. Money shown as a credit on the account will then be applied if they add more entries or items for that show, but cannot be used for entering other shows on Showman.
This system allows for flexibility so exhibitors can edit their entries and additional items until the date that entries close. This is something exhibitors love about Showman!
What financial reports are available?
Show administrators can download a report of all of the raw payment data, showing the details for each payment made to the show, including exhibitor name, email, amount, type of payment, and date of payment.
Show administrators can also download an invoice report, which shows the details for each invoice, including the amount owed and number of entries and items for each invoice.