Re: Gift Certificates

[Charley Tiggs <..hidden..>]

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?
> >
> > Charley
>
> Journal Entry at time of sale should be something like
> this:
>   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)

<snip..>

Thanks Bruce.  That helps immensely!

Charley