Background
This page will guide you through best practices regarding financial loyalty reporting, including tips for loyalty programs operating under ASC 606 and IFRS 15.
AIQ is not a financial advisor — please seek your own counsel to ensure that you are in compliance.
Loyalty Financial Reports can be found under Settings > Loyalty Settings > Points Reporting. The AIQ-recommended best practice is to utilize these reports exclusively to designate the financial liability from outstanding point balances.
Loyalty Reporting Best Practices
Monthly Financial Report Vault
These reports are automatically created and report on the previous month's data. Compile these reports month over month to understand the financial liability of outstanding loyalty points across a larger time frame.
Per Persona: Report points based on each individual customer — what they specifically redeemed, earned, etc. These records are not attached to a store and provide global liability.
Per Store: Report points based on where the actions taken by the customer occurred (accrued points, redeemed points, etc.). AIQ will attempt to assign a Persona's points accrued, redeemed, or expired to a store location to provide store-level liability.
When a customer accrues points due to an action not tied to a specific store, those points are assigned to an "Unknown" row in per-store reports. These can be considered global liabilities.
Depending on your POS, some redemptions are "Groupon style" and rely on proper in-store SOPs to align with AIQ's reports. Most AIQ clients leverage modern point-of-sale infrastructure with AIQ built in natively (Tier 3+ integration), which resolves these discrepancies.
Detailed Report: Report points based on each individual customer, showing what they specifically redeemed, earned, etc. These records are not attached to a store and provide global liability.
Schedulable Financial Reports
These reports are identical to the Monthly Financial Report Vault reports, but can be scheduled at different intervals beyond monthly (e.g., weekly, bi-weekly). Use schedulable reports when you need more frequent visibility into loyalty financial data.
Need Help?
If you need assistance, reach out to AIQ Support anytime via chat widget within your AIQ Dashboard.