Here are the questions we receive the most about collecting team fees in DragonFly.
1. How do I set up a fee in DragonFly for my team, school or association?
It takes less than a minute to set up a fee in DragonFly. Click here to view our tutorial videos and articles that demonstrate how to set up a fee.
2. How do I withdraw money from my DragonFly Payments Account and is there a cost?
To withdraw money from your DragonFly Payments Account, select the ‘Withdraw’ button and choose either ‘Transfer to Bank Account’ or ‘Request a Check’ from the menu.
You can sweep money to your bank account via ACH transfer up to 4 times per calendar month at no charge. The 5th and any subsequent transfers in the month will be $5 per transfer. The 4x transfer limit resets at the first of each month.
All check requests include a $50 processing fee deducted from your DragonFly Payments Account. Checks are processed once a week and will be mailed to your organization’s address on file in DragonFly.
3. Can I download files to upload to my accounting software?
Yes, you can download a .csv file at any time directly from your DragonFly account to upload to your accounting software for a specific period of time and utilize the custom general ledger codes to do so.
4. What is the cost to collect money for a school/team fee?
There are standard digital processing fees of 3.5% + $2.30 per transaction. Two options are available for who is responsible for processing fees. The school can absorb the fee or you can set the check mark box for the payer to absorb the fee. We recommend setting your fee to the same amount, even if paid by check or cash, to encourage people to pay online while filling out paperwork in DragonFly.
5. What is a DragonFly Payments Account?
The DragonFly Payments Account is a holding account where your money is securely stored and segregated in DragonFly. Think of it as a digital wallet.
6. How many DragonFly Payments Accounts can I create?
You can create as many DragonFly Payments Accounts as your organization needs. For example, you can create a payments account for each team or sport at your organization.
7. At the end of my fiscal year, can I zero the balances in my accounts?
Yes, you can zero these balances with your own general ledger codes if you choose that option. You can also have the balances default to zero on the first day of your new fiscal year. If you do not specify a fiscal year, this will be done on January 1 by default. Your historical information can still be viewed.
8. When can I enter my general ledger accounts for fees received?
If you use general ledger codes, you will set up your debit and credit options when you create your fees. If you do not use general ledger codes, you will have assigned cash, expense and revenue accounts.
9. Will my organization’s finances be visible within DragonFly? Who can see our DragonFly Payments Account(s)?
Only administrators with the proper permissions according to your internal controls will see your organization's finances. Click here to learn how to edit permissions in DragonFly.
10. How do I add money to my DragonFly Payments Account and is there a cost?
Funding Source | Transaction Fee |
Funding with an ACH transfer | Free |
Funding by check | Free. If mailing a check, please print and include our Funding Info Sheet with each check you send. |
11. What are the standard waiting periods for an ACH transfer?
Type of Transfer | Clearing Period |
Micro-Deposit Verification | 1-2 Business days |
Funding Payments Accounts | 4 Business days |
Payout (Sweeping to your Bank Account) | 3-5 Business days |