Please view our webinar on How to Use Training Tokens.
The Training Token Types setting in the Control Panel (Financial section) let you declare different kinds of Tokens, e.g. “Gold Coins” and “Silver Coins”. Training Tokens are pre-set vouchers that can be redeemed for training at a later date. Essentially, they work as another unit of Currency.
You can set a Redemption Period for each Token Type, i.e. how long they are valid for before they expire, once they are issued to one of your Accounts.
On more information on how to use Training Tokens, please also see:
- Selling Tokens through Opportunities
- Managing and Issuing Tokens through Accounts
- Defining Token Prices for Events ( per Event basis , or per Course basis )
- Redeeming Tokens for Events
This Control Panel setting lets you:
- Add a Training Token Type
- Edit a Training Token Type
- Archive or Unarchive Training Token Type
- Delete a Training Token Type
In the Control Panel’s Training Token setting:
- Define the Name: this will be the label that will be displayed when showing prices, like how currencies are displayed in GBP, USD, etc.
- [Optional] Give the Training Token Type a description - this description will appear on invoices when tokens of this type are sold.
- [Optional] Redemption Period: set the default number of days before token issues of this Token Type will expire.
Your Training Token Type will be added to the table.
- Click on the Training Token Type that you wish to edit (or ) to open the edit modal.
- Make your desired changes.
Your Training Token Type will then be updated with your changes.
You can include Archived Training Token Types in your view by toggling the Show Archived button
- Click on the Training Token Type that you wish to Archive / Unarchive.
- Set “Is Archived” to Yes or No, depending on your desired action.
Your Training Token Type will then be archived/unarchived. Archived tokens will no longer be available for sale or creating new issues, but outstanding tokens will still be redeemable until they expire.
You can only delete Training Token Types if there are no redeemable Tokens of the particular Type on any of your Accounts, and no pricing configured for this token type.
- Click on the Training Token you wish to delete, or the bin icon
- Click to confirm
Your Training Token Type will then be deleted.
How are training tokens used up?
Training Tokens are segmented by type in a "pool" or "account". When a token is used up by redeeming it and there have been multiple issuances (e.g. 10 tokens purchased in April, 20 in June), Administrate will use the tokens up using a first in, first out methodology, based on which tokens will expire the soonest.
Unless you specify an explicit expiration date, each token issue use the same expiration timeframe (e.g. 365 days), which also means that the tokens are typically used up in order of their issuance date.
Why would I want to create multiple token types?
Creating multiple token types, like "Gold" and Silver" allows you to segment your course offering, allowing only certain events to be redeemed by certain token types. As an example, the tokens can be priced at different amounts, allowing you to segment your catalog by high cost and low cost courses.
What happens when tokens expire?
Administrate will automatically zero out any remaining, unused balance on the expiration date of the token issue. This ensures that they can no longer be redeemed for training.