Is this article for you?
Do you need to add cost rules to alter the payee profit bucket by transaction amount, basis points, a flat amount, or a percentage?
Yes - this article is for you
No - see Step 4
Entity Costs modify the profit bucket per entity and per swipe or keyed account type. Modifications include adding a cost per transaction, basis points, static amount (flat), and a fixed percentage.
Who can access Finance “Config” Entity Costs?
Office Staff users assigned to the “Main” division with Admin access and who have “YES” checked in their profile for “View Commissions”.
Where are Entity Cost rules?
Click the Administrator tab and then click the Entity Costs button. To add a rule, click the Create button.
To see how this will impact the commission calculation, check out this article.
Instructions
To create Entity Cost select the Administrator tab, select Entity Costs in the Finance menu and then select the Create button to open the processor cost config form. The first field to add a Nickname is not required but you can use it to label this entity cost as you prefer. If you have more than one processor select the processor you need from the Processor menu. Next select the entity from the drop down menu. If no entities are appearing in the menu select the Add Entity link next to the menu and complete the add entity form then go back and complete the rest of the cost rule. Once you select an entity, check either Swipe or Key account type to further specify which merchant accounts to apply the cost rule. Swipe accounts are considered card present whereas Key are considered card not present, like internet or mail/telephone order businesses. Next enter an Effective Start Date to set when the rule should go into effect. Past dates can be applied and are necessary if you are going to calculate past commission reports.
Now we are getting into the rules that will determine the profit bucket. It is important to note that these markups are above your processor costs so for example, if the processor cost is 5 cents and you want to make the total cost to payees 7 cents, you would add the difference of 2 cents, not the total of 7 cents. First you can enter a markup on Visa, Mastercard and Discover transactions. For example if you would like to mark up the cost by 2 cents enter “0.02” into the V/MC/Disc Auth Fee field. To add a cost for T&E enter the markup into the T&E Per Item Fee field, same with Debit Per Item fee. Again, for example, to mark up by 3 cents enter “0.03”. A Basis Point Override markup should be entered not as a percentage but at as a whole amount. For example if I want to markup by 2 basis points I would simply enter “2” into the Basis Point Override field. In the Statement Fee Field you can add a static aka “flat: markup. The next field, Club member Auth Fee, is not used very often if ever anymore. A Club member was a service that allowed a merchant to pay a per transaction fee to subscribe for terminal paper deliveries. The Fixed Percentage field simply takes a percentage of the AMTDUE right off the top of the profit bucket. AMEX Opt Blue Basis Point & Per Item allow you to price AMEX opt blue separate from the other card types and your markup can be entered accordingly. When you have your rules in place select Save to complete. Please remember you must complete a cost rules for both Swipe and key per each entity to ensure the markups apply to all your accounts.