Gift Vouchers

You can issue and redeem Gift Vouchers, set up as Products on Invoices.

Prepaid Gift Vouchers should show on the Balance Sheet as Liabilities, and expired Gift Vouchers should be journalled back to a Sales Account in the Profit and Loss.

As an example of how to set up Gift Vouchers in the Demo data, you could:

• Add a Liability GL Account for Prepaid Gift Vouchers outstanding, that adds to the Total Current Liabilities account.
• Add an Income GL Account for Expired Gift Vouchers, that adds to the Total Sales Account, and posts to the Profit / Loss Brought Forward account.
• Add an IC Product for the Gift Voucher.

To sell Gift Vouchers, you could enter the Gift Voucher Product on an Invoice Line. You could use the Custom Fields to record the Voucher Number and Expiry Date.

To redeem Gift Vouchers, you could enter the Gift Voucher Product on an Invoice Line, with a negative Quantity and Price.

To set up Gift Vouchers with varying value, you could set up a Product with a price of $1, and use the Quantity field to set the value. For example, for a $100 gift voucher, you could have a Gift Voucher with a price of $1, and a quantity of 100.

You could add validation in a BeforeSave Script. For example, to calculate the Expiry Date from the Invoice Date, to ensure the Voucher Number has been entered, or to check that the expiry date has not passed.

You can journal expired gift vouchers in the General Ledger between a Prepaid Gift Vouchers Outstanding liability account and an Expired Gift Vouchers income account in the Profit and Loss. Alternatively, you could write-off an expired gift voucher through a Credit Invoice, with the expiring value and number, with a clearing line that goes to an Expired Vouchers Sales Group.