Account For User Credits or Points

A ledger account for user credits or points balances is a specialized account within an Omnibasis omniBooks financial system. It tracks the issuance, redemption, and expiration of credits, ensuring an accurate record of all transactions related to credits.

Key Features of the Credits Ledger Account:

1. Account Structure

• User-Specific Sub-Ledgers
  Each user has a unique sub-ledger to track their individual credit activity.
• Balance Overview
  Stores the total credits available for use at any time.

2. Transaction Types Tracked

• Credits Earned
  • Credits purchased or awarded from purchases, promotions, referrals, or loyalty rewards.
  • Example entry: "Earned 100 credits for a $50 purchase on Nov 1, 2024."
• Credits Redeemed
  • Credits used in a transaction (partial or full payment).
  • Example entry: "Redeemed 500 credits for a $25 discount on Nov 15, 2024."
• Credits Adjusted
  • Manual adjustments, such as bonus credits or corrections.
  • Example entry: "Added 50 goodwill credits for account error."
• Credits Expired
  • Credits that reach their expiration date and are removed from the balance.
  • Example entry: "Expired 200 unused credits on Dec 31, 2024."

3. Fields in the Ledger

• Transaction ID: A unique identifier for each credit-related action.
• Date: The timestamp of the transaction.
• Description: Details about the transaction (e.g., purchase, redemption, bonus).
• Credits Earned: Credits added in the transaction.
• Credits Redeemed: Credits used in the transaction.
• Credits Expired: Credits removed due to expiration.
• Balance: Updated total after each transaction.

4. Integration with Transactions

• Linked to User Accounts
  The ledger is tied to each user's profile for real-time tracking.
  Example: If a user checks out, their credits ledger updates immediately to reflect the redemption.
• Supports Hybrid Payments
  When a user pays partially with credits and partially with cash, the ledger logs the credits portion of the transaction separately.

5. Reporting and Monitoring

• Audit Trails
  Complete logs of all credit activities for compliance and customer support.
  Example: Resolving disputes like “I didn’t receive credits for my purchase.”
• Expiration Management
  Automated alerts or actions for expiring credits, ensuring users are notified in advance.
• Insights for Business
  Helps the business understand credit usage trends, such as redemption rates and breakage (unused credits).

Example Ledger Entries

omniBooks ensures seamless integration, transparency, and user trust in managing credit transactions.