If you are a platform, you can now see your residuals on the Finix Dashboard. This updated system will be used for all future residual calculations and payouts.
Note: Some customers will remain on the Net Profit Report. Please contact your Finix Representative if you have questions.
We’re rolling out a new way of calculating residuals this month and going forward. This updated system will be used for all future residual calculations and payouts.
Instead of using the Net Profit Report, Finix will now generate Residual Settlements that contain:
- Merchant Fees: Fees used to bill your merchants for transaction costs on Finix. These can be set using the Merchant Fee Profile or passed in per transaction via API.
- Finix Costs: Costs for using the Finix system for acquiring. These are defined in your legal agreement (MSA) with Finix.
- Merchant Fees: Fees used to bill your merchants for transaction costs on Finix. These can be set using the Merchant Fee Profile or passed in per transaction via API.
- Finix Costs: Costs for using the Finix system for acquiring. These are defined in your legal agreement (MSA) with Finix.
Finix will provide a report to help you analyze your billing settlements:
- Residual by Merchant: Breaks down residuals by individual merchants.
There will be a new Company Financials tab under Settings → Company Page.
Within this tab, you’ll find four sections:
- Residual Settlements: Lists all residual calculations (previously provided via the Net Profit report).
- Cost Profile: Shows the rates defined in your MSA.
- Service Agreement: Displays your customer type.
- Billing Settings: View your billing configuration.
- Residual Settlements: Lists all residual calculations (previously provided via the Net Profit report).
- Cost Profile: Shows the rates defined in your MSA.
- Service Agreement: Displays your customer type.
- Billing Settings: View your billing configuration.