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Reconciliation for Gift Cards

The reconciliation process for gift cards occurs when a gift card was purchased at one franchise or location but used at another. 

Things to know:

  1. To activate the reconciliation feature on the parent account, follow the steps provided here
  2. To reconcile between 2 locations belonging to different franchises, global DB must be activated. 
  3. To reconcile between 2 locations within the same franchise, Global DB does not have to be activated. 
  4. Reconciliation for gift cards is based on the gift card amount used (redeemed) at the destination location x adjustment rate set on parent.

Configuration

Reconciliation % of the price to transfer 

  • 20% of services

  • 15% of products
  • 10% of classes     

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 

The item was fully covered by the gift card: 

  • The service price on the ticket is $60, and the total amount was covered by the gift card
  • The product price on the ticket is $20 and the total amount was covered by the gift card
  • The class price on the ticket is $70 and the total amount was covered by the gift card

Reconciliation Calculation

The percentage that will be transferred from location 1.1 to location 2.1 will be based on the portion of the gift card used:

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 the location 1.1 account and credit the location 2.1 account download__17_.png

 

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