# Platform Residuals

As a Platform, Finix allows you to easily monetize payments and collect a residual from your merchants.

## Residuals Overview

Finix has two types of billing:

- **Merchant Fees**: Fees used to bill your `merchants` for transaction costs on Finix. These can be set using the Fee Profile or passed in dynamically via API on transactions.
- **Finix Costs**: Costs for using the Finix system for Acquiring. These are associated with your legal agreement with Finix.


## Residuals

Finix calculates residuals with a simple equation:


```txt Residuals Calculation
Merchant Fees - Finix Costs = Residuals
```

Depending on your agreement with Finix, there may be a Revenue Share. If that's the case, you will only keep the portion of the Residuals specified in your agreement.

## Viewing your Residuals

Finix generates Residuals monthly. These residuals appear on the dashboard as `billing_settlements`.

![Billing Settlements](/assets/platform-residuals-daphnes-corner.f67530aa8feafd085ac99efe61d40c2407a57d346516782b5fa9e8724e7d7d12.08ff7529.png)

Additional Notes:

- Residuals may be negative if your Merchant `Fees` are not high enough to cover the Finix `Costs`.
- Certain contracts with Finix have a Rev Share split that needs to be taken into account


### Income Statement

When you click into a Billing Settlement, you'll be able to see an aggregate of both `Fees` and `Costs`. You can expand and collapse the different sections to view the aggregations for both Fees and Costs.

![Cost Income Statement](/assets/platform-residuals-daphnes-corner-income-statement.b7f0737fe3eba178bdb5ba2105ac658d4f5e1a39c330056390614de755fbb93f.08ff7529.png)

### Downloading Reports

At the bottom of the the Billing Settlement, there will be a section to download reports related to this Billing Settlement.

We offer the following report:

- **Residual by Merchant:** This report provides a breakdown of residuals by merchants.


## Receiving your Residual

Residuals are normally paid out within 30 days of the billing settlement being created. Residuals will be paid out using `Billing Transfers` which will be viewable in your `Biling Settlement`.

Note: There may be situations where a residual is not paid out if money is owed or if losses occur due to an inability to collect fees from a merchant in your portfolio.

## Viewing your Costs Profile

Platforms on Finix are assigned a Cost Profile that detail the rates assigned to them.

To View your Cost Profile:

1. Log into the Finix Dashboard.
2. Navigate to Settings > Company
3. Navigate to the Company Financials Tab
4. Select Cost Profile


Your Cost Profile will match the rates entered in your Finix Master Service Agreement (MSA) and Order Form.

![Cost Profile](/assets/platform-residuals-daphnes-corner-cost-profiles.4eb1c7583254973e1b1cc1fbfa00565edfffb557dc7ec63dd170ebe88ef56ac9.08ff7529.png)

If your customer are on a legacy processor, you will not be able to see your Cost Profiles. Please reach out to your Customer Delivery Manager for more information.

## Viewing Costs

Similar to Fees, you will be able to view `Costs` on different resources. When viewing a payment, you will be able to view `Fees` and `Costs` to give you a better perspective on different payments.

![Viewing Costs](/assets/platform-residuals-daphnes-corner-viewing-costs.4293de2e6bca216b375627d8c53d670e41d1a22447cd2a7c957d6233b9333dea.08ff7529.png)

## Changing your Billing Settings

If you need to update your bank account on file, please reach out to your Customer Delivery Manager. We will want to validate the new bank account with a bank verification letter or bank statement.