If your gift card program is set up at the corporate level, unused gift card funds stay in a central corporate account and are paid out to each location as cards are redeemed. We hold the transaction data for every location, reconcile the prior month's gift card activity each month, and settle the difference with each location by ACH.
Note: The corporate location holds all outstanding gift card liability.
How settlement works
Each month we compare what your location sold in gift cards (loads) against what it redeemed. The amount you are debited or credited equals your loads minus your redemptions.
If your sales are higher than your redemptions, your location is debited the difference. That amount is credited to the corporate reconciliation account.
If your redemptions are higher than your sales, your location is credited the difference. That amount is debited from the corporate reconciliation account.
When reconciliation happens
Reconciliation runs once a month and always covers the prior month's activity.
Your report is available on or about the 15th of the month. If that date falls on a weekend or holiday, it moves to the next business day. You will receive an email with a link for you to login to access your report.
Reconciliation debits and credits occur on or about the 21st of the month, or the next business day if the 21st falls on a weekend or holiday.
What you need to provide
Each location completes a one-time DocuSign form so we can deliver your report login and move funds. The form collects:
Contact information for the person responsible for reconciliation at your location
The email address where your monthly notification should be sent
ACH banking information for gift card credits and debits
How to read your reconciliation report
Your monthly report summarizes the prior month's activity between your location and the corporate account.
The Payable Amount column shows your loads (gift cards sold). The Receivable Amount column shows your redemptions.
The Net Pooling figure nets your loads against your redemptions for the month. A positive net is an ACH deposit to your account; a negative net is an ACH withdrawal.
A number shown in parentheses ( ) is a debit.
Each line item is a summary between two locations.
Note: If an ACH debit is returned, rejected, or reversed for any reason, including insufficient or uncollected funds, your account is suspended until all outstanding amounts are paid in full. A $30 returned-ACH fee applies to each returned transaction, and the balance must be paid in full before service is reinstated.
Examples
Example 1: You sold more than you redeemed.
Last month your location sold $100 in gift cards and redeemed $50. Your sales are $50 higher than your redemptions, so your location is debited $50, which is credited to the corporate reconciliation account.
Example 2: You redeemed more than you sold.
Last month your location sold $200 in gift cards and redeemed $300. Your redemptions are $100 higher than your sales, so your location is credited $100, which is debited from the corporate reconciliation account.