Restaurants are expanding the revenue potential from gift card sales by adding retail sales channels, promotional incentives, e-gift, mobile, and bulk sales.
One of the biggest hurdles in implementing or updating a gift card program is optimizing best practices for gift card accounting. This is because some of these new growth channels have both discounts and extra fees associated with them. Accounting practices can make the difference between a highly successful revenue generating program and one that has a negative impact on both a company and individual careers.
Let’s take a look at one of two crucial issues of gift card accounting: how to fund a discount. In the post, we’ll discuss how to track breakage. […]