On 7/31/2017 4:24 PM, Paul W. wrote:
On the one hand, these items are a form of income. As such, I could track them
as income.
On the other hand, I use these items they way I use a credit card to make
purchases. As such, I could track them as a credit card.
Are there other hands with other methods?
Stop.
This is DOUBLE ENTRY bookkeeping. So the "on the one hand income" misses
the point. When you receive a "gift card" (etc.) the credit side of that
transaction would be income but the debit side an asset account. Not
like a credit card but like a debit card.
When you use the card (or some portion of it) the transaction might be a
debit to some expense account and the credit to that asset account
Michael D Novack
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