x Want to participate? Join the group to interact
  • State Suggested Answer
  • Replies 1 reply
  • Answers 1 answer
  • Subscribers 32 subscribers
  • Views 110 views
  • Users 0 members are here
Browse Forums
Announcements
23
topics
1
replies
Discussion Générale Français
159
topics
241
replies
General Discussion
431
topics
697
replies
Jackie Irwin

Gift Cards

SUGGESTED
Posted By

Could anyone tell me how they process gift cards in Sage Accounting?  I tried to do it the way I did it in Sage 50 but I cannot post to a liability account on a Sales invoice.

I set up a " bank" called Gift Cards so when goods are purchased with a gift card that payment type can be used. What I need help with is getting the purchase of a gift card to hit the gift card " bank" and be able to use the payment type. 

  • 0
    SUGGESTED

    Hi  ,

    Thanks for your post. Currently, there isn't a direct way to post to a liability account for gift cards within Sage Accounting as you would in Sage 50. However, you can consider creating a liability account named "Gift Cards" and manually adjust the balance when a gift card is sold or redeemed.

    Here’s a suggested workaround:

    1. When you sell a gift card, create an invoice and apply the payment to the "Gift Cards" liability account.
    2. When a gift card is redeemed, you can record a sales invoice for the goods or services and use a journal entry to move the amount from the "Gift Cards" liability account to your income account.

    It's essential to ensure that these entries are balanced and reflect the correct flow of transactions. For more detailed assistance or if you require help with the journal entries, please reach out to Sage Customer Support or consult with your accountant to ensure that these transactions are handled according to the correct accounting principles.

    Warm Regards,
    Erzsi

*Community Hub is the new name for Sage City