How are Fees Collected

All movement of money including both transactions and fees are recorded as entries in the Payrix system. This tracks who is receiving income or paying for a fee. Once a fee is applied a Processed Entry is created to immediately deduct this from the entity that paid the fee. This is then reflected in the entity account Available Balance and can be reviewed within your Balance Details page. 

Note that non-funded transactions such as Amex direct sales, will not create entries. 

A pending entry will record a movement of funds that has not yet occurred such as a Refund that has not captured/settled.  

Once a fee is in your Account Balance and not “pending” then this is available for funding via a Payout schedule. 

Note: A fee cannot be deleted once it has been applied or if it is on or past the current date. This is to ensure that there are no orphaned events in our system for a fee schedule that no longer exists. You can set fees to inactive or modify the fee based on your needs as long as you consider the timing implications of the fee modification.