Create a new Liability Account (2-xxxx) called Unclaimed Gift Vouchers:

1. Go to the Accounts command centre and click Account List.
2. Click the Liability tab then click New.
3. Select Credit Card in the Account Type drop-down menu. In BusinessBasics select the Detail Credit Card Account [Postable] option.
4. Give the account a unique number that suits your account list.
5. Name the account Unclaimed Gift Vouchers.
6. Click OK.
   

1. Go to the Banking command centre and click Receive Money. In BusinessBasics go to the Command Centres menu and choose Banking then choose Receive Money.
2. Select the Deposit to Account option, then click the adjacent Account field's drop down arrow and select your cheque account.
3. Enter the date and other transaction details then move down to the Acct# field.
4. Click the drop down arrow and select the Unclaimed Gift Voucher liability account (as created in Task 1 above).
5. Click into the Amount field and enter the amount received.

6. Enter the N-T tax code - this isn't considered a sale so isn't included in the BAS.

   In New Zealand? Enter the S15 tax code here - this is considered a sale so it is included in the GST Return.

7. Check that the transaction details are correct then click Record.

These steps will result in a credit posting to the Unclaimed Gift Certificate liability account and a debit posting (deposit) to your cheque account. 

The gift voucher can be redeemed via a sales invoice or through Receive Money.

Using Receive Money

1. Go to the Banking command centre and click Receive Money. In BusinessBasics go to the Command Centres menu and choose Banking then choose Receive Money.
2. Select the Deposit to Account option then click the adjacent account field's drop down arrow and select the Unclaimed Gift Voucher liability account.
3. Enter the date and other transaction details and then move down to the Acct# field.
4. Click the drop down arrow and select the relevant income account (4-xxxx).
5. Click into the Amount field and enter the value of the gift voucher.
6. Click into the Tax field and enter the relevant GST tax code.
7. Check that the transaction details are correct then click Record.

These steps will reduce the balance of the Unclaimed Gift Certificates liability account with a debit posting. It will also credit the relevant income account and at the same time record the GST liability. 

Using a sales invoice

1. Go to the Sales command centre and click Enter Sales. In BusinessBasics go to the Sales command centre and click Sales Register, then click New Sale.
2. Select the relevant Customer Card then enter the other sale details.
3. Click Layout and select Service or Miscellaneous. Please note that Miscellaneous type invoices can't be printed.
4. Click into the Acct# field and select the relevant income account (4-xxxx).
5. Click into the Tax field and enter the relevant GST tax code.
6. Check that the transaction details are correct then click Record.

These steps will result in a credit posting to the relevant income account and also record the GST liability.

To close the invoice and record the redemption of the gift certificate

1. Go to the Sales command centre and click Receive Payments. In BusinessBasics go to the Command Centres menu and choose Sales then choose Receive Payments.
2. Select the Deposit to Account option, then click the adjacent account field's drop down arrow and select the Unclaimed Gift Voucher liability account.
3. Enter the other transaction details and then apply the payment to the relevant sales invoice.
4. Check that the transaction details are correct then click Record.

These steps will reduce the balance of the Unclaimed Gift Certificates liability account with a debit posting.

You can write-off unredeemed gift vouchers using a Receive Money transaction. An unredeemed gift voucher represents income, so the value needs to be allocated to an income account. If you want to track this type of income seperately, you can create an income account for this purpose.

1. Go to the Banking command centre and click Receive Money. In BusinessBasics go to the Command Centres menu and choose Banking then choose Receive Money.
2. Select the Deposit to Account option then click the adjacent account field's drop down arrow and select the Unclaimed Gift Voucher liability account.
3. Enter the date and other transaction details and then move down to the Acct# field.
4. Click the drop down arrow and select the relevant income account (4-xxxx). If you want to track unredeemed gift voucher income seperately, you can create an income account for this purpose.
5. Click into the Amount field and enter the value of the gift voucher.
6. Click into the Tax field and enter the relevant GST tax code.
7. Check that the transaction details are correct then click Record.

These steps will reduce the balance of the Unclaimed Gift Certificates liability account with a debit posting. It will also credit the relevant income account and at the same time record the GST liability. 

The balance of the Unclaimed Gift Vouchers liability account will represent the value of the unclaimed gift vouchers. The Find Transactions window is the quickest way of finding this balance.

1. Go to the Accounts command centre and click Find Transactions (located at the bottom of the window).
2. Click the Search By drop down list and select Account.
3. Click the drop down arrow of the adjacent field and select the Unclaimed Gift Certificates liability account.
4. Enter the From and To dates. The To date is the date at which you want to know the value of the unpresented gift vouchers.

Note: The Balance Sheet report could also be used as an alternative to the Find Transactions feature.