Introduction:
When a location is changing ownership, several updates may be needed to ensure a smooth transition for the restaurant operator and a seamless guest experience. These include updating users’ permissions to access the Lunchbox Admin Dashboard, updating the billing information for paying Lunchbox subscription fees, and changing the bank account information to receive deposits from credit card transactions processed through Lunchbox. When there is a transfer of ownership, it is crucial to update the banking information to ensure that sales are correctly attributed to the new owner.
Restaurant Experience:
Step 1: Update Admin Users and Roles:
Step 2: Update Update Billing Information by filling out this form:
NOTE: Lunchbox subscription fees are typically invoiced one of two ways. If each location is responsible for paying their own monthly subscription fee, this form must be submitted. Otherwise, Lunchbox will continue debiting monthly subscription fees from the account on file. This may result in failed payments and interruptions in service
If locations do not pay their only monthly subscription fees (i.e., corporate billing handles the invoicing and payments), this form is not needed.
Step 3: Finally, updated your banking information. Here's how you can update Lunch Money within the Lunchbox platform:
Log in to the Lunchbox admin dashboard.
Navigate to Settings.
Click on Payments.
Select the specific location you are updating.
Go to Account Setup.
Find the Bank Account section.
Enter the new banking information for the new owner.
Once the banking account information is entered and the Lunchmoney setup is completed, the location’s Payment information will show Pending. It can take 3-5 days for account validation to be finalized and this status to show Complete, however, there should be no interruption in credit card processing abilities during that time.
Important Considerations
The update to the banking information is effective immediately.
Sales from the day of the update onwards will be directed to the new bank account.
Sales made on the day of the update will take 2 business days to process and be attributed to the new owner.
Timing for Ownership Transfer
If the new owner is taking ownership on a specific date, it is recommended to update the banking information at the end of the previous day. For example, if the transfer is on December 17th, update the information on December 16th end of day.
Sales on the day of the banking info update will be considered for the new owner, following the 2 business day processing time.
FAQs:
How long will this take for this information to update?
Admin users will be updated immediately, and changes to billing information for Lunchbox Subscription fees will be reflected on the next billing cycle. Please allow for 3-5 business days for your account to be updated on the Lunchmoney/Stripe dashboard.
How do I get access to the Admin Dashboard to create users and update permissions?
Each Restaurant Partner has users at the corporate level who can manage user accounts and permissions. You should contact your corporate office to obtain access. For security, Lunchbox is not able to create or change admin user accounts or permissions settings.