Reconciliation for Gift Cards

Modified on Mon, 8 Sep at 2:08 PM

The gift card reconciliation process occurs when a gift card is purchased at one location (source location) but redeemed at another (destination location). In this article, we will walk through how reconciliation works when goft cards are redeemed across different franchise locations.

Things to know:

To activate the reconciliation feature on the parent account, follow the steps provided here
To reconcile between two locations under different franchises, the Global DB must be activated. However, for reconciliation between two locations within the same franchise, activating the Global DB is not required.
Source Location: Where the membership was originally purchased
Destination Location: Where the membership was redeemed/used
Reconciliation %: The percentage of the item value (service, product, class) to be transferred from the source to the destination location.
Reconciliation records are automatically generated when a ticket is closed, as long as the reconciliation feature is active at the time of closing.
All reconciliation data is captured in the Reconciliation Detailed Report
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

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

Example 1: Partially Covered

Client purchases gift card at Franchise 1
Uses it to pay for services, class and products at Franchise 2
Service Price: $20 (partially covered)
Class Price: $40 (partially covered)
Product Price: $10 (partially covered)

Reconciliation Calculation

Service - 5% x $20 =$1
Product - 30% x $10 = $3
Class - 20% x $40 = $8
Total to be transferred -> $1+ $3+ $8 =$12

Total Reconciled: $12 from Franchise 1 to Franchise 2

Example 2: Fully Covered

Client purchases gift card at Franchise 1
Uses it to pay for services, class and products at Franchise 2
Service Price: $60 (fully covered)
Class Price: $70 (fully covered)
Product Price: $20 (fully covered)

Reconciliation Calculation

Service - 5% x $60 =$3
Product - 30% x $30 = $9
Class - 20% x $70 = $14
Total to be transferred -> $3 + $9+ $14 =$26

Total Reconciled: $26 from Franchise 1 to Franchise 2

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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