Gift Card Participants to Receive Monthly Compensation Reports

Booksellers participating in the Book Sense Gift Card program will notice a change in this month's ACH notification process. In an effort to provide all booksellers with relevant information, all stores will now receive a monthly Compensation Report via e-mail.

The Compensation Report, which is generated by Givex, lists bookstore-to-bookstore activity (for example, "Store A" either redeemed "Store B's" gift card and/or "Store B" redeemed "Store A's" gift card) during a specific month. Previously, when Givex generated a report that contained no bookstore-to-bookstore activity, the report would be discarded and only reports with activity would be e-mailed to the locations involved in the transactions. Under the new system, all locations will receive a Compensation Report whether or not there has been activity.

It is possible, therefore, that booksellers will receive Compensation Reports that may contain the phrase, "There is no data for this query." This should not be cause for concern. It simply means that all cards sold by "Store A" during the month were redeemed in "Store A" or they are still unredeemed. If the report lists bookstore-to-bookstore activity, the net amount (a debit or a credit) will be transferred to or from the checking account on file on the third Friday of the month for the previous month's activity.

Questions about Book Sense Gift Cards may addressed to ABA's Jill Perlstein at (800) 637-0037, ext. 6642, or Linda Ford at ext. 6644; or to Givex at [email protected].