Within the "Finance" section of the admin portal, specifically on the "Billing" and "Budgets" pages, a sidebar on the left side of the screen provides a summary of the funds and points deposited into your platform. This article explains the information presented in this sidebar.
Note: For info on your account's funding type, see the Funding Your Account article. For questions, contact your Awardco representative.
Points Summary
*If your organization uses AwardCodes, you'll find an “In AwardCodes” line below the points summary.
Funds vs. Points
To effectively interpret the information in these summaries, it's crucial to understand the distinction between funds and points:
- Funds: Funds represent actual monetary value (cash). When payments are made to Awardco to establish or replenish your redemption account, these cash funds are tracked in the "Funding Summary" section. These funds are used to pay for employee redemptions when orders are placed.
- Points: Points are the in-platform currency used to distribute purchasing power from your organization to your employees through budgets. Keeping points separate from funds ensures clear financial tracking. Funds are only deducted from the redemption account when an employee redeems their points for a product.
Funding Summary
The "Funding Summary" displays the total cash value loaded into your platform. Consider this section as a bank account. Deposited funds can be used for product purchases within the platform through employee redemptions.
- Deposits: This line reflects the total amount deposited into your account over its lifetime. Funds are added to this line upon invoice payment.
- Redemptions: This line displays the total value of all processed orders over the account's lifetime. It reflects completed orders and excludes pending orders or unspent points in individual user wallets.
- USD Balance: This line represents the current cash balance in your Awardco account, calculated as total "Deposits" minus total "Redemptions." This balance backs future redemptions. If this line reaches zero, orders will be placed in a pending state until sufficient funds are deposited.
Points Summary
The "Points Summary" indicates the location of all points within your platform.
- Company Account: This is where points are initially stored upon deposit before being allocated to budgets. Points are deducted from this account when added to a budget.
- In Budgets: This line represents the total number of points currently allocated to platform budgets.
- In Wallets: Wallets are individual employee point accounts. This line shows the total unspent points in all employee accounts, including those in archived user accounts.
- In Pending Orders: These points represent company-funded points allocated to pending orders. Once orders are processed, the "Funding Redemptions" total will be updated.
- Total Points: This is the sum of "Company Account," "In Budgets," "In Wallets," and "In Pending Orders," representing the total unredeemed points in the platform.
My Budgets
The "My Budgets" section displays budgets to which you have been directly assigned. This provides a quick overview of available funds in your accessible budgets. This section is particularly beneficial for group managers with individual team recognition budgets who lack access to the full "Budgets" page. It allows them to monitor their remaining budget balance.
If you have any questions, please contact Awardco Admin Support.