Commission/Fees on Settlement

IMPORTANT NOTE:  This feature does NOT pass these fees onto your customer.

If your gateway settles it’s transactions by deducting the commission/fees it charges you from the deposit you receive then you can use uCollect to calculate and post these fees.  You can combine a flat rate per transaction and a percentage of the charge in the calculation.  Please note that your percentage or transaction charge must be the same for all transactions for uCollect to calculate it.  If you charges are likely to vary by transaction or settlement then you should NOT use this feature.  Check the gateway instructions for guidance here.

Also, please note that this is calculated for each batch processed by uCollect and may not exactly match the settlement cycle processed by your gateway.  We will create a new fee entry every time uCollect generates payments through (1) the scheduled daily batch, (2) the Process Now/Generate Now feature, and (3) when a customer uses the Pay Now feature.

If your settlement account (“Bank Account”) is a Bank account type then uCollect will create a Spend Money transaction.  If your settlement account is another account type with payments enabled then uCollect will create a Bill and mark it as paid against the settlement account.

Here's a brief run-down on each of the fields:

  • Calculate Commission/Fees on Settlement: Check this box to activate the feature.  If you un-check this box your commission data will be removed from the system.
  • Per Transaction $ Amount: This is the amount that will be calculated for each transaction in the settlement batch.  uCollect adds up the number of settlement transactions (which may be less than the number of invoices if some invoices are for the same contact) and multiplies this by the amount given (rounded to 2 decimal points).  Your bank account (or base currency for non-bank accounts) is always used.  If there is no per transaction fee then please enter zero.
  • Per Transaction Commission %: This is the percentage that will be multiplied against the transaction amount.  Do not include the percent sign (e.g., for 2.9% enter “2.9”).  Please see “Calculate batch total per line” below for more details on the calculation method.
  • Account to code Fee to: This is a list of all expense accounts from your ledger.  Please choose one to charge the settlement fee against.
  • Tax Rate to apply to fee: This is a list of all the tax rates from your ledger.  Please choose one to be used when creating the settlement fee.
  • Supplier Name for Fees: This is a list of all supplier contacts from your ledger.  Please choose one use as the contact for the settlement fee.  If the desired contact is not listed you may need to create them in your accounting system and add a bill against them to trigger them as a supplier (rather than a customer).
  • Calculate batch total per line: If this option is checked then uCollect will round the % commission to 2 decimal places on each line before adding them up.  If this option is unchecked then uCollect will only round the total to 2 decimal points.  If you find that your settlement fee is often out by a few cents then change this setting.
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