[GNC] Questions about how to handle Gift Certificates

[Robert Heller]

Nevermind, I found it.

At Thu, 31 Oct 2024 16:26:38 -0400 (EDT) Robert Heller <heller at deepsoft.com> wrote:

> 
> 
> 
> At Thu, 31 Oct 2024 18:34:27 +0000 Murugan Mariappan <m.muruganandam at hotmail.com> wrote:
> 
> > 
> > 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
> 
> How do I create a credit note?  I am using Gnucash 4.14.
> 
> > 
> > 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
> > 
> > ________________________________
> > From: gnucash-user <gnucash-user-bounces+m.muruganandam=hotmail.com at gnucash.org> on behalf of Robert Heller <heller at deepsoft.com>
> > Sent: 31 October 2024 14:38
> > To: gnucash-user@ <gnucash.org gnucash-user at gnucash.org>
> > 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
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> 

-- 
Robert Heller             -- Cell: 413-658-7953 GV: 978-633-5364
Deepwoods Software        -- Custom Software Services
http://www.deepsoft.com/  -- Linux Administration Services
heller at deepsoft.com       -- Webhosting Services