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Reconciling gift cards for franchising

brianckaufman
Soup I

‎10-24-2022 02:37 PM

Hello, we're preparing to franchise and the issue of gift card liabilities among different locations has come up. How do you handle this in Toast when a gift card is purchased at 1 location but redeemed at another? Is there a monthly reconciliation that happens, and credits/debits added to an account? Would love some feedback!

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2 REPLIES 2

au79teahouse
Community Ambassador

‎10-24-2022 04:41 PM

Here is a screenshot of how the gift card report looks like!

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JMC
Soup III

‎11-29-2022 02:26 PM

A WARNING ABOUT GIFT CARD REPORTING:  The gift card liability report can be exported to created an accounting of all of the debits and credits due to each store and it does show which store gets debited as the selling store and credited as the store where the card was redeemed.  But, this report onlyshows the standard transactions (sales & redemptions).  If the card value was adjusted for any reason those transactions do NOT show up in that report!  You can find the adjustments in the transaction detail report and add them to your reconciliation.  I'm not sure how Toast tracks transfers of gift card balances between cards.  You may want to ask Toast specifically about this.  How you account for adjustments and transfers is a matter of policy you may need to develop and communicate to franchisees.

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