Note: At the time of publication, Finix is redesigning the user interface of the Dashboard. Some functions or features may look different. Check back for updates. This document uses mock data from Finix's sandbox environment. 

Some features and functions may be unavailable depending on your platform configuration. 

A part of the payments lifecycle is the settlement process. A crucial part of the settlement process is approving or rejecting settlement(s). This is important as the approval process allows merchants under the platform to get paid out. 

Payment facilitators can approve settlements via the Finix APIs and or the Dashboard. Users must approve settlements for each processor they use before the cut off time in order for their merchants to be paid out the next day. 

Note: Settlements must be approved by 4pm PT or 7pm ET. We encourage payment facilitators to approve by 6pm ET to ensure next day merchant payout. 

Settlement approval schedules 

Processor: LITLE_V1

Processor: VANTIV_V1

Approve a daily settlement 

On the Dashboard, under the REVIEW header, click on Settlements to view all pending settlements. Settlements are categorized into the following statuses: Pending, Rejected, or Approved. You can use the search and filter function to search for a specific settlement and view settlement details. To approve or reject a settlement: 

Note: It is suggested you filter by processor using the search and filter function. Approving settlements by processor ensures accuracy and that you have not missed a settlement. 

1. On the Pending tab, select the settlement ID(s) and check the box inline. 

Note: To select all the settlements listed, scroll down to the bottom of the page and then click on the checkbox next to the Net Amount header. That will select all the settlements for approval. At the bottom left of the page, you can confirm the number of settlements selected out of the number of settlements available. 

2. Navigate to the drop-down at the bottom of the page. Select the appropriate action. 

 3. A pop up modal appears asking you to confirm your actions. Click the Yes button to confirm or click the No button to cancel and close out of the modal. 

Note: Once a settlement has been approved it cannot be undone. However, if you accidentally approve a settlement, submit a Support ticket and a Support team member will reach out with next steps. 

4. A success message appears at the top of the page.