Recording Gift Card received as a refund or promotional item

I've got your back on recording the gift card received as a refund from your vendor, @mpeterson11.

In QuickBooks Online (QBO), the best way to track gift certificates received from your vendors is to create a cash account to record and track the balance of your gift certificates.

To do this, here's how:

1. In the left menu, click the + New button.
2. Select Check or Expense depending on how you paid the bill.
3. From the Payee ▼ dropdown, select the vendor you got the certificate from.
4. From the Bank account (check) or Payment account (expense) ▼ dropdown, select the account used.
5. Select the Category ▼ dropdown to select the gift certificate account for this vendor. If you don’t have an account for the vendor yet, here's how to add one:
   1. Select Add New.
   2. Set the Account Type to Bank and detail type to Cash on hand.
   3. Give the account a name specific to the vendor and its status as a gift certificate account. Example: Joe's Hardware - Gift Card.
   4. Ignore the ▼ dropdown field that says When do you want to start tracking your finances from this account in QuickBooks?
   5. Select Save and Close.
6. Enter the amount of the gift certificate
7. Click Save and close.

After that, visit this article for the detailed steps on using the gift card: Record gift certificates purchased from vendors. 

In addition, see this great resource in recording refunds from your vendor:   Handle vendor credits and refunds in QuickBooks Online.

Please let me know if you have any questions about recording vendor refunds. I'm always right here to help you.