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d.riseberg
Level 3

Clearing a balance on a lost gift card

We are running QB Premier Non-profit.  A few years ago we were given a $50.00 gift card to use for our organization.  Unfortunately, the gift card was lost, and there remains a balance of $13.26 on the card.  We have been carrying a balance of $13.26 on our book, and our taxes ever since.

It was set up as a Bank type account.  The $50.00 was entered as a donation, then deposited into the gift card.

I contacted QB tech support, and he told me to simply make the account inactive.  That simply doesn't make the account visible.  The account still remains.

I am trying to figure out how to eliminate the balance on the gift card - once and for all - since we no longer have the card.

Thanks

Solved
Best answer March 13, 2021

Best Answers
BigRedConsulting
Community Champion

Clearing a balance on a lost gift card

Treat it much like you'd treat lost cash.  For example, what if you withdrew cash from the ATM from the business account and then lost it?

Enter a transactions into the bank register to lower it's balance to 0.00 and use a misc expense account of some sort.

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1 Comment 1
BigRedConsulting
Community Champion

Clearing a balance on a lost gift card

Treat it much like you'd treat lost cash.  For example, what if you withdrew cash from the ATM from the business account and then lost it?

Enter a transactions into the bank register to lower it's balance to 0.00 and use a misc expense account of some sort.

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