Robert
Try the following and see if it works for you
1. Create a new account named "Gift Certificates Payable" and set it as a
Liability account.
2. Record the Sale of a Gift Certificate:
Credit the "Gift Certificates Payable" account for the amount of the gift
certificate sold.
Debit the "Checking Account" for the same amount.
3. Issue your invoice as usual with AR recorded
4. Issuing a Credit Note Upon Redemption:
When a customer redeems their gift certificate, create a credit note:
In the income account field select "Gift Certificates Payable" account for
the same amount
5.Record the Redemption:
Pay the invoice with the Credit Note and actual cash and select the transfer
account as your "Checking Account"
Saludos Cordiales
Murugan
Saludos Cordiales
Murugan
________________________________
From: gnucash-user
<[email protected]> on behalf of
Robert Heller <[email protected]>
Sent: 31 October 2024 14:38
To: gnucash-user@ <gnucash.org [email protected]>
Subject: [GNC] Questions about how to handle Gift Certificates
I have a small service-oriented business, and I am looking to sell "Gift
Certificates" that could be redeemed for future service.
I am not sure how to account for them with gnucash. I think I should some
sort of account (Liability?) for the sold Gift Certificates, but I am not sure
how to account for them when I issue invoices (and process payments) in the
future. I wonder if there is some wisdom out there on the gnucash-user
reguarding handling Gift Certificates.
--
Robert Heller -- Cell: 413-658-7953 GV: 978-633-5364
Deepwoods Software -- Custom Software Services
https://na01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.deepsoft.com%2F&data=05%7C02%7C%7Cb39509d2f6724fb77abd08dcf9d30c58%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C638659932071473882%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=1HUhh3FA%2FCZn5ctRqLkwgHjt9%2F1tgja2FgLhE1Txc%2Bo%3D&reserved=0<http://www.deepsoft.com/>
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