Skip to content

Gift vouchers

A gift voucher is a piece of paper or electronic card loaded with a value that's later exchanged for goods or services.

When you sell a gift voucher, the customer is holding an asset of your business until the voucher is redeemed. So when you record the sale of a gift voucher, it needs to be recorded as a liability posted to an Unclaimed Gift Voucher account.

When the customer redeems the voucher, all you need to do is create an invoice and pay for it using the funds from the Unclaimed Gift Voucher account.

This way, you can easily track the value of outstanding gift vouchers or write-off any that remain unredeemed.

OK, let's take you through the details.