This article will guide you through understanding Gift Card redemptions on your Remit Report.
Note: For general information about the Remit Report and how to access it, please refer to our Remit Introduction article.
1. Gift Card Redemptions
Revenue from Gift Card redemptions can be found in the Gift Card Redeemed on the Summary tab as indicated here. Gift Cards can be used to pay for agreements, purchase products, and make a payment on an existing agreement.
If a Gift Card is used to pay for an agreement the amount redeemed is shown in the Upfront column. If used to purchase a product the amount redeemed is shown in the Products column. Finally, if a Gift Card is used to make a payment on an existing agreement the amount redeemed is shown in the Draft column.
2. Gift Card Transaction Fees
Transaction fees are assessed on purchases made with Gift Card similar to other forms of payment. In this example, Gift Card transactions are subject to a 3% transaction fee.
3. Gift Card Transaction Details
Gift Card transactions can be found on the Downpayments, Products, or Draft tabs depending on what was purchased.
If a Gift Card is used to pay for an agreement the transaction detail is found on the Downpayments tab. In this example, the Gift Card was used to purchase a class. Note that the form of Payment is 'Gift Card'.
Similarly, if a Gift Card was used to purchase a product the transaction detail is found on the Products tab. Finally, if a Gift Card is used to make a payment on an existing agreement the transaction detail is found on the Draft tab.
4. Gift Card Refunds
Purchases made using a Gift Card can be refunded back to the Gift Card or to Credit on Account.
If a purchase made with a Gift Card is refunded the refund transaction is shown on the Refunds tab as shown here. In this example the refund was made back to the Gift Card.
In the case of a return of a Gift Card, similar to a CC fee, it will not be returned. No fee is charged on the refund either.