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Reconciliation for Gift Cards

Reconciliation for gift card occurs when a gift card was purchased at one location but used at another. Let's take a look at an example of reconciliation for gift cards.

 

Configuration on parent

% of the price to transfer - This is the percentage of the service, product, or class value that should be transferred to the providing location from the location where a gift card was originally purchased.

  • 5% of services
  • 30% of products
  • 20% of classes

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The client bought a gift card at Franchise 1- Location 1.1 but used it to pay for a class, service and product at Franchise 2 - Location 2.1

  • Price for service - $60
  • Price for class - $70
  • Price for product - $30

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Reconciliation

Service - 5 % x $60 =$3

Product - 30 % x $30 = $9

Class - 20 % x $70 = $14

Total to be transferred -> $3 + $9+ $14 =$26

This information can be seen in the Reconciliation Detailed Report which can be accessed by going to Dashboard > Reports  > Reconciliation Detailed Report.

The system will debit (deduct) $26 from location 1.1 account and credit (deposit)  $26 to location 2.1 account. 

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