Gift Purchases

Thanks for the info.  Easy when you know how and all done. 

You're Welcome farmgirlkent69, Anything else don't hesitate to ask :smiling_face_with_smiling_eyes:

Hi!

Would it be the same category for gifts purchased for clients?

Thank you,

Jess

what if you bought your clients gifts (not employees) where would you put them as? wouldnt that be promotional?? Please help me

Thanks for joining us here today, @maniayat.

You'll want to record the gift as a sales receipt when issued. Then, create an invoice when it's redeemed. For the acccount, you can use trust accounts-liabilities sa account detail type.

Here's how:

1. Go to Chart of Accounts, then tick New.
2. In the Account Type drop-down, select Other Current Liabilities.
3. In the Detail Type, choose Trust Accounts - Liabilities.
4. Enter GC Issued in the Name field.
5. Click Save and Close.

Please refer to this article for details: Sell and redeem gift cards or certificates in QuickBooks Online.

If you need help with other tasks in QBO, browse this link to go to our general topics with articles.

Keep me posted if you still have questions or concerns with gift purchases. I'll be around to help. Take care and stay safe.

Thanks for the reply. This is a bit confusing. You mentioned to create and redeem. It isn’t a gift being redeemed in two difference instances like a GC. This is a gift for a client who did a transaction or would be trying to get them to do so.

my chartered accountant (and another chartered accountant) never did it that way.

can you please clarify? What you mentioned doesn’t seem to be logical if it is not a gift card. 

Let me share additional details on how to record gifts for your customer, maniayat.

We can simply add an expense account where you can track the gifts. You can select the Advertising/Promotional type for this or better consult with your accountant.

Then, let's record the purchased gifts using an expense or cheque transaction affecting the expense account you created. Go to the + New button and select Expense or Cheque.

Reply again if you need anything else. Take care!