As sellers process payments on Finix, they have open Settlements that accrue transactions. This ensures that each payout is the result of an explicit set of transactions.
As long as a Merchant is processing transactions, they'll have an accruing Settlement. This accruing Settlement has running totals that can almost be seen as the current balance for the seller. These totals constantly change while the seller is processing transactions and can continue to change in value until the settlement closes.
You can find these accruing Settlements in the dashboard or programmatically through the API and Webhooks.
Accruing Settlements in the Dashboard
In the dashboard, you can see the currently accruing Settlements in the Payouts > Settlements page. Click the ACCRUING tab.
From this page you can see a list of current,ly accruing Settlements and click into individual accruing Settlements to see their current totals.
Under Details, you'll see:
| Entry Accrual Start | The date and time the selected Settlement starts accruing transactions. |
| Entry Accrual End | The date and time the selected Settlement stops accruing transactions. Transactions created after the Entry Accrual End time passes get placed into the next created Settlement. |
| Auto Close | The date and time the selected Settlement automatically closes and becomes ready for approval. For more details, see Approving Settlements. |
Accruing Settlements in the API
You can use the API to interact with accruing Settlements. When a settlement starts accruing we'll send a webhook event with an entity of settlement and a event type of accruing_started.
Example accruing_started webhook event
{
"type": "accruing_started",
"entity": "settlement",
"occurred_at": "2018-03-06T20:41:34.277",
"_embedded": {
"settlements": [
{
"id": "STc4qcqYJn4tKaD6bkHzkzMG",
"application": "APcL6gyMzeFqDf6RHJid3SEq",
"tags": { },
"identity": "ID57iuPnKwuopPn93YsGmvkP",
"currency": "USD",
"merchant_id": "MUgRjRrRwDyMbzS6CVQYPECC",
"created_at": "2022-08-18T19:00:00.93Z",
"updated_at": "2022-08-18T19:00:00.93Z",
"processor": "DUMMY_V1",
"type": "MERCHANT_REVENUE",
"funds_flow": null,
"payment_type": null,
"total_amount": 662154,
"total_fees": 19232,
"total_fee": 19232,
"net_amount": 642922,
"destination": null,
"status": "PENDING"
}
]
}
}The PENDING status means the Settlement is actively accruing transactions. Use the id to query the Settlement at any moment for its current totals.
Closing an Accruing Settlement
Once the settlement closes, you'll see its status update in the dashboard. You'll also receive another webhook event with an entity of settlement and a type of created for that original accruing Settlement. You can confirm the Settlement is closed by matching the settlement id with the id in the accruing_started webhook event.
Once closed, the Settlement goes through the normal settlement approval and payout process.