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Tracking "gift cards" sold at a discount in QB desktop 2019

Hi!  I ran a promotion - "gift cards" at 20% off, so $160 for $200 worth of services, etc.  Everyone has bought them for themselves, so they will work as a discount for prepayment in practice.  Should I do a credit memo?  Journal entry?  Please advise and thanks in advance!

 

Valerie

1 Comment
QuickBooks Team

Re: Tracking "gift cards" sold at a discount in QB desktop 2019

Hello there, Valerie.

 

You can create a credit memo to record the discounted item. And I'd be happy to walk you through the steps.

 

To create a credit memo, here's how:

 

  1. Go to the Customers menu.
  2. Select Create Credit Memos/Refunds.
  3. Choose the appropriate customer.
  4. Enter the discounted item in the line item area.
  5. Hit Save and Close.
  6. On the Available Credit window, choose one of the following:
  • Retain as an available credit
  • Give a refund
  • Apply to an invoice 

               7. Select OK.

 

Feel free to read this article for more detailed steps and information: Record a Credit Memo or Refund in QuickBooks Desktop.

 

Please keep in touch with me here should you need any further assistance about recording credit memo. I’ll be around if you need any help.