Methods to Track Gift Cards and Similar Items
Phil Longstaff
phil.longstaff at gmail.com
Mon Jul 31 17:08:28 EDT 2017
I track gift cards as assets, under Current Assets
On Mon, Jul 31, 2017 at 4:24 PM, Paul W. <pfwoolverton at juno.com> wrote:
> I am seeking guidance on methods to track items such as gift cards, gift
> certificates, merchant cards, bank reward cards, and store-credit cards
> for returned purchases.
>
> 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?
>
> I am looking for a simple, consistent method for all of these items so
> that I can easily track when I received the item and its initial value, and
> track the expenditures. I want to keep all of these items in the same part
> of my account tree. Rigorous, double-entry accounting is not essential.
> Imbalance on one side of a transaction is OK.
>
> What are the pros and cons of the various methods to track these items?
>
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