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Mad Money/Krazy Kash/Gift Certificate "Giveaways"

Nick Reilingh
$organization

Hello all,

I am trying to figure out the best way around this situation, and am wondering if anyone else has dealt with this before or has some insights into best practices.

We occasionally give away ticket vouchers as charity donations and the like, but occasionally instead of a voucher for "two tickets to event x", it will be "this voucher can be redeemed for a $100 gift certificate". The issue of course is that this is $100 worth of "comped ticket" that may or may not be spent in one place, but at the end of the day this shouldn't generate any "real money" transactions either.

So far I can think of a few options of varying levels of elegance:

  1. Do everything with comps and editable price tickets, and keep track of the amount of "Credit" remaining in a constituent note, attribute, or CSI.
  2. Define a dummy GL # to use for a special paymethod, a special on-account or gift certificate, and a special price type that are only ever to be used with one another, and thus would be restricted to upper-level box office staff. Are there any issues with having more than one on-account or gift cert payment method, and any reason to use one over the other? The ending price type would need to be editable to "apply" whatever discount a buyer might be eligible for that might otherwise just be a different price type.
  3. Use existing price types (but a separate on-account or gift cert paymethod), and do all of these transactions in individual batches that will not be posted to finance.

So far #1 is the easiest to set up, but difficult to process and keep track of. I'm leaning towards #2 since I will be able to verify consistency of the process easily by checking that any batch that touches the dummy GL gets a net $0 posting to that GL. #3 seems like it's the most inelegant, but then again I'm brand new in Tessitura and don't really know much of the best practices yet.

Any thoughts, ideas, or input on the above?

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  • $organization

    Hi Nick -

    One thing to be aware of when thinking of playing with funny money is how it is going to report in ticket sales - both from a reporting in Tessitura standpoint and a royalty report. We have a rather large program here that we currently do with 'funny money' (can't wait for that new pricing engine). We've had to customize ticket sales reporting as well as royalty reports to not inflate our sales numbers. 

    The problem with redemption to a dollar amount is that your funny money becomes real money as soon as you sell a ticket with value. One option I've seen people do internally is literally 'pay' themselves. So they debit themselves the amount of that $100 so it really becomes the organization buying a $100 gift certificate from themselves. I don't know if you want to go in that direction, but it is another way of going...

    Good luck!

    Heather

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  • $organization

    Hi Nick -

    One thing to be aware of when thinking of playing with funny money is how it is going to report in ticket sales - both from a reporting in Tessitura standpoint and a royalty report. We have a rather large program here that we currently do with 'funny money' (can't wait for that new pricing engine). We've had to customize ticket sales reporting as well as royalty reports to not inflate our sales numbers. 

    The problem with redemption to a dollar amount is that your funny money becomes real money as soon as you sell a ticket with value. One option I've seen people do internally is literally 'pay' themselves. So they debit themselves the amount of that $100 so it really becomes the organization buying a $100 gift certificate from themselves. I don't know if you want to go in that direction, but it is another way of going...

    Good luck!

    Heather

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