The key to a successful program is ensuring that your USD Balance and your total points always match. This simple method guarantees that every point in the system is already funded, preventing any funding issues or delays in processing redemptions.
Just as a check needs to be backed by cash, every point on the Awardco platform must be backed with enough cash to fulfill all product redemptions. Awardco does not front the cost of your company's items or purchases; each organization is responsible for funding its own redemptions. Unfunded orders will not be processed and will remain pending until payment is received.
How to Reconcile Your Accounts
To help you reconcile your prepaid asset account, you can use two valuable reports available on the Awardco platform:
- The "Money Spent" report: Tracks all your redemptions.
- The "Redemption Account" report: Shows both deposits into and redemptions from your account, giving you a complete overview.
How to Deposit Funds
Ready to add funds to your account? You can find all the remittance information you need on any of your invoices or Funding Request Invoices. Awardco currently accepts the following forms of payment:
- ACH
- Wire Transfer
- Check
- Credit Card (for Funding Request Invoices only via the billing page)
By keeping your funding and points in sync, you'll ensure a smooth, efficient, and rewarding experience for everyone involved.
Have questions or your own tips to share on this topic? Drop them in the comments below!
