This report allows multi-location restaurant concepts to view a summary of gift card activity by location. The information in this report can be used to make periodic transfers between the pool account and individual restaurant location accounts to ensure that restaurant locations are compensated for (and only for) the gift cards that are used at their restaurants.
What is a pool account?
The pool account is the repository of all unused gift card funds, and is used to pay out restaurant locations as gift cards are redeemed. It is important to note that:
- When gift cards are purchased digitally, funds are automatically processed and deposited in a batch, usually a few days after the purchase.
- When gift cards are purchased in a restaurant location, the restaurant owner will need to effect a manual transfer before the funds are available in the pool account.
- When gift cards are redeemed in a restaurant location, the pool account owner will need to effect a manual transfer before the funds are available in the restaurant account.
What is the net transfer amount?
The net transfer amount is the amount owed from the pool account to a specific restaurant location or vice versa as a result of gift card transactions.
- A positive net transfer amount indicates that the pool account owes the restaurant location, usually in cases where the restaurant location has experienced higher redemptions of gift cards than sales of gift cards.
- A negative net transfer amount indicates that the restaurant owes the pool account, usually in cases where the restaurant has seen higher sales of gift cards than redemptions of gift cards.
Please reference the diagram below for specific scenarios and how they affect net transfers.
What happens to credit card processing fees?
All gift card accounting and reports are based on gross amounts and do not address credit card fees. Your total gift card liability (total outstanding unused gift card value) may therefore be higher than the funds available in the gift card pool.