As we recently wrote in our article on Fiserv PASO Reporting, Fiserv has moved from the Legacy Residual reports to PASO (Product Reporting And Sales Compensation Overhaul) reporting.
To prepare for this important change, IRIS CRM has updated the residuals report templates of Fiserv Omaha and North ISOs in due course, so that they are fully compliant with the new PASO reporting format.
Following the initial template migration, we are pleased to announce the addition of several new features in your favorite Merchant Services CRM which will allow ISOs to easily upload and manage PASO reports on their own.
Let’s dive in and take a look at how you can begin to use the PASO reporting features today!
Enabling PASO Reports For A Processor
To get started, enable the PASO reporting on your Fiserv Omaha or North processor.
Navigate to Manage > Administration > Processors > Processor Settings and click the pencil icon on the processor you wish to edit.
In the popup which appears next, select PASO as the report type and click Update:
The PASO reporting has now been enabled and we can proceed to import a PASO report.
PASO Report Import & Configuration
Navigate to Residuals > My Residuals and click on the Import Residuals button.
In the window that opens, select the PASO report file to upload and select PASO report type enabled in the previous step:
Next, click the Upload button and the PASO Configuration page will open showing the automatically calculated Report Fees (expense and income):
Below the Report Fees section, you’ll find the Custom Fees section where you can add additional fees (that may not be listed in the report).
To add a new fee click on the Add Custom Fee button, enter the fee title, and select if the fee is an expense or income.
When you’ve added all of the custom fees you need, click the Next Step button to begin the import:
If any new merchants are found in the PASO report at this point, you’ll have the option to add such merchants automatically to the CRM:
After the new merchants have been added click the Import button to begin the import process:
Once the import is completed you can proceed to publish the report either immediately, or after editing the report further via residuals templates:
Check on the Details tab on the My Residuals page to view the aggregated data for each imported merchant:
In order to update the PASO report rates for specific users or groups, you can create a PASO template that stores the rules to be applied to selected fee types.
Once the template is saved, it can be applied to selected users or groups in order to modify their rates automatically.
To create a new PASO template navigate to Manage > Administration > Residuals > Templates and click on the “Add a New PASO Template” button:
In the popup which appears enter the name of your new template and then add the rules for updating the various rates:
When you’re done, click Save.
Learn more about using the residuals templates in our knowledge base article on Residuals Templates.
After you import a PASO report for the first time, the ISO’s Buy Rates will be automatically saved in the CRM.
You can access the rates from the Buy Rates tab on the Manage Residuals page:
Click on the report link to view the Buy Rates and edit them if needed:
When you import a new PASO report with the same file name again, the CRM will automatically check if the newly imported rates are the same as the default buy rates for that file (i.e. the rates shown on the Manage ISO Buy Rates page in the previous screenshot).
If the rates are found to be different, you will be given the option to override the ISO Buy Rates for each fee type by clicking on the Apply Report Rate buttons:
If you change your mind and want to switch back to the ISO Rate, you can do so by hitting the Apply ISO Rate buttons:
After you’ve confirmed that the buy rates are set up correctly, you can proceed to review the Report Fees and the Custom Fees and complete the import process as described earlier.
We hope you enjoy using the new PASO reporting feature.
Stay tuned for more cool updates coming soon!
Not Using IRIS CRM? Let’s Talk!
Join Over 200 ISOs Using IRIS CRM To Grow.
Schedule A Demo To Learn More. Work Faster. Work Smarter.
For sales tips and the latest electronic payment news check out the daily IRIS CRM Daily Bulletin and for the latest product updates and company news please join our newsletter.