Funding and Points Sidebar Summary Follow
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 contained in the
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.
Funds vs. Points
Understanding the information in these summaries first requires an understanding of the difference between funds and points.
Funds - To state it plainly, funds are cash. When you send a check to Awardco to establish or replenish your funding account, these cash funds are tracked in the funding summary section. When orders are placed, the cash in your funding 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 keeps your money easy to track. The only time money is taken from the funding account is when an employee redeems their points for product.
The funding summary highlights the cash value that has been loaded into your platform. Think of this section as you would a bank account. The cash deposited can be withdrawn or used for the purchase of products in the platform via employee redemptions.
Deposits - The deposits line reflects the total amount deposited in your account over the lifetime of the account. 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 lifetime of the account. This amount reflects processed orders and doesn't reflect pending orders or unspent points stored in individual users' wallets.
USD Balance - This line reflects total deposits minus total redemptions. This is the cash balance in your Awardco account. This represents the funds backing future redemptions. If this line reaches zero, orders will be placed into a pending state until funds sufficient to cover the outstanding orders are deposited into your platform.
The points summary highlights the location of all points in your platform.
Company Account - The company account is where points are stored when they are first deposited into the platform, before they are distributed to budgets. When you add points to a budget, the points come from this company account.
In Budgets - This line is the sum total of points currently contained in the 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. This total includes the points remaining in archived users' accounts.
Total Points - The sum of the "Company Account," "In Budgets," and "In Wallets" sections. These are the unredeemed points currently in the platform.
The my budgets section of this summary sidebar displays budgets you have been directly assigned to. This is meant to provide a quick overview of the funds currently available in the budgets you are able to 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 would be able to use this summary to see the remaining balance in their budget.
If you feel this article left your questions unanswered, please contact your Client Success Manager so we can better assist you.