In the admin section of the platform, you will see a sidebar on the left side of the screen that summarizes the funds and points that have been deposited into your platform. This article explains the sidebar feature as it is displayed within the platform.
Note: For an explanation on your account's funding type, please see the Funding Your Account article. Additional questions regarding account funding should be directed to your dedicated Client Success Manager.
Points Summary
Funds vs. Points
Understanding the information in these summaries requires an understanding of the difference between funds and points.
- Funds: Simply put, funds are cash. When you send a check to Awardco to establish or replenish your redemption account, these cash funds are tracked in the Funding Summary section. When orders are placed, the cash in your redemption account is used to pay for these redemptions.
- Points: Points are the in-platform currency used by the system to distribute purchasing power from your organization, through budgets, to your employees. Keeping points separate from funds ensures your money is easy to track. Funds are only deducted from the redemption account when an employee redeems their points for a product.
Funding Summary
The Funding Summary highlights the cash value that has been loaded into your platform. Think of this section as a bank account. The deposited cash can be withdrawn or used for product purchases within the platform via employee redemptions.
- Deposits: The Deposits line reflects the total amount deposited into your account over the account's lifetime. Funds are added to this line when an invoice is paid.
- Redemptions: The Redemptions line shows the total value of all processed orders over the account's lifetime. This amount reflects processed orders and does not include pending orders or unspent points in individual user wallets.
- USD Balance: This line reflects total Deposits minus total Redemptions. This is the current cash balance in your Awardco account, representing the funds backing future redemptions. If this line reaches zero, orders will be placed into a pending state until sufficient funds are deposited into your platform to cover the outstanding orders.
Points Summary
The Points Summary highlights the location of all points within your platform.
- Company Account: The Company Account is where points are stored when they are first deposited into the platform, before being distributed to budgets. When you add points to a budget, the points are drawn from this Company Account.
- In Budgets: This line represents the sum total of points currently allocated to platform budgets.
- In Wallets: Wallets are where points are stored in individual employee accounts. The total shown here is the sum of unspent points currently in employee accounts, including points remaining in archived user accounts.
- In Pending Orders: These points represent the company-funded points that have been allocated to pending orders. Once orders are processed, the Funding Redemption total will be updated.
- Total Points: The sum of the "Company Account," "In Budgets," "In Wallets," and "In Pending Orders" sections. This represents the total unredeemed points currently in the platform.
My Budgets
The My Budgets section of this summary sidebar displays budgets you have been directly assigned to. This provides a quick overview of the funds currently available in the budgets you can access through recognitions. This section is particularly helpful for group managers who have an individual budget assigned to them for team recognitions but do not have access to the "Budgets" tab. They can use this summary to see the remaining balance in their budget.
If you have any questions, please contact Awardco Admin Support.