QuickBooks Add-on - Gift Certificates and QB

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Gift Certificates and QB

Printed From: ProductCart E-Commerce Solutions
Category: ProductCart Add-on's
Forum Name: QuickBooks Add-on
Forum Description: Exchange messages with other users of the QuickBooks Add-on
URL: https://forum.productcart.com/forum_posts.asp?TID=4191
Printed Date: 21-November-2024 at 11:55am
Software Version: Web Wiz Forums 12.04 - http://www.webwizforums.com

Topic: Gift Certificates and QB

Posted By: sdalan
Subject: Gift Certificates and QB
Date Posted: 06-December-2010 at 1:21pm

Anyone know how gift certificates are handled by QBsync? I have been experimenting with our 3.11 install and won't use until we upgrade next year but I don't follow how Gift Certificates will be handled with QBsync.

When we sell a GC, I would think the revenue would post to a short-term liability account until applied to an order. No sales tax YET, if applicable. When used, sales tax should compute on the pre-GC total and the amount of GC applied should reduce the short-term liability. I don't see how that will happen if the GC transactions are lumped with discounts.

Anyone else has concerns/solutions to this? Thanks, Alan