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Re: Gift Certificates

Bruce Hohl wrote:
--- Charley Tiggs <..hidden..> wrote:

How should gift certificates be handled? As a
service attached to a liability account or some other way?


Journal Entry at time of sale should be something like
  Debit   Cash                      100.00
  Credit  Some_Liability_Account   (100.00)

Journal Entry when redeemed should be:
  Debit   Some_liability_Account    100.00
  Credit  Sales                    (100.00)


Thanks Bruce.  That helps immensely!