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Reconciliation for Gift Cards

The reconciliation process for gift cards occurs when a gift card was purchased at one franchise but used at another. This feature is only available for accounts that are on Global Database. If you are on Global Database and want to set up the reconciliation feature, follow the steps outlined here. 

Once the necessary steps are taken to set up the reconciliation feature, see an example below of how it all works 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

 

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

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

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