Understand and Setup the Rate Code FX2 Process (BW)
The following process was set up working with a hotel on the best way to manage those unique reservations.
The FX2 rate code is unique because it allows guests to split their payment between loyalty points and another preferred method of payment. With this special rate code, guests have the flexibility to use a portion of their points to cover a portion of the booking and pay the remaining balance using any other payment method they prefer.
What rate comes with the reservation?
1. The room rate will consistently display as $0.01.
2. When the reservation spans multiple nights, any redeemed points will only apply to the first night. Every other nights will be at the applicable rack rate.
3. Click on the "CRS Comments".
4. In the comments section of the reservation, you will find information regarding both the number of loyalty points being redeemed and the amount the guest is required to pay for the first night.
This section will provide a clear breakdown of the points used for redemption and the remaining payment due for the first night.
The amount discounted for the guest is also in the comment... this is NOT the amount that you will be reimbursed. You will calculate that amount from the number of points using the FX2 Reimbursement Calculator on your BW Portal.
Can there be enough points used to cover multiple nights? We do not know. If you have such an example, please send us your property ID and Reservation number at university@visualmatrix.com and we'll be happy to complete the documentation.
But there will be 2 rates...
An FX2 reservation will have 2 room charges posted, one on Folio A (what the guest pays, if anything left) and one on Folio B (what will be reimbursed by BW for the redeemed points and direct billed).
Folio A:
- If the guest still has something to pay, the rate can be override in the "Rate Details", and will be posted as the room charge on A Folio.
- If the guest does not have anything left to pay, it can be left at $0.01 to be auto-post during the audit and either voided or overrided ($0.001) in the folio the next day.
Folio B:
- The rate Best Western will reimburse, that would have been calculated from the BW FX2 calculator and post manully on the B Folio, will be direct billed to the BW FX2 City Ledger (see below).
The second amount (points) is included in the ADR in the PMS but is not included in BW systems as room revenue. The amount reimbursed is not considered room revenue by BW.Manage a reservation with the FX2 code in Visual Matrix
We advise to manage the FX2 reservation in a separate account to make sure you can track every individual amount more easily.
Create a separate FX2 City Ledger account
Path: Accounting > City Ledger > City Ledger > +
Create a new City Ledger account for the FX2 code to separate those folios from the FX code ones.
You can use the same CL account for both FX and FX2 folios, but having a separate one may be easier if you have to research something in the future.
Create an FX2 Room Revenue Accounting Code
Path: Management > Accounting Settings > Setup Code > Add New
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