I have seen this question before but have not been able to apply it to my situation. I have a POS at my restaurant running Breadcrumb (upserve). I can sell gift cards at my POS, or Online. I use Shogo in order to import my daily sales from POS into QB. When the Gift card is purchased at the POS, I get a credit imported the next day into QB for Sales, and a debit for the payment method (ex: card or cash). At this point in time Quickbooks has no idea about the gift card, it just sees it as a sale that was not taxed. Now the customer comes to redeem a portion of the gift card, he purchases a menu item that costs $6.61 and tax $.59, so a total of $7.20. The next day, we get a credit imported for Sales again (which sounds to me like a duplicate) but also tax will be credited at this time, and a debit for Gift Cards Tender method (if I create a QB account called Gift Cards, currently I don't have one). What type of account should this be? It can't be a liability because, well its not, I don't owe the $7.20, I'm receiving it. Now for the online gift cards. When it is purchased, I receive a payment of the full amount. If someone purchases a $25 gift card online, I will receive $25 to my bank account. I record this as an Online gift card purchase (a sub account of Sales). Now lets say a portion is redeemed like last time, $6.61 sale and $.59 tax. The POS credits the sale amount and the tax amount (sounds like a duplicate again), and debits Gift Cards again.
So basically its two questions: 1) What type of account should I create Gift Cards as? Income? 2) Am I handling this properly? Are sales actually being duplicated or is this correct? 3) Is there anything else I'm missing that I may have overlooked? My initial assumption is that I'm recording the initial purchase of the gift card incorrectly, and that this should be a liability not a sale. If I record the initial purchase as a Gift Card Liability, I can then deduct this account with the redemption. I think that would actually solve it, but since I've wrote this one out, can someone verify?
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So there isn't a better way than leaving this in the hands of the customer? Humans can make errors, I feel if there was a simple field called "require a deposit", and when that is selected we were prompted to enter the deposit amount, it would be much safer. Then the customer would just get an invoice that would have two buttons on it (pay deposit, or pay invoice in full), or even just one button for "pay deposit". This way the customer can't make mistakes. If there is nothing like that, would this be a good place to request this feature, or is there a better place for me to submit it?
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I'm using Quickbooks Payments to accept payments from customers. I'm trying to figure out how to let a customer pay a portion of an invoice, without having to manually edit the payment amount while paying the invoice. Even though this way works, it is far from ideal as a customer can make an incorrect deposit amount and we will be paying per transaction. After reading this article https://quickbooks.intuit.com/community/Reports-and-accounting/Manage-upfront-deposits-or-retainers/m-p/201917/thread-id/250, I'm confused on how to work with deposits while using quickbooks payments. Basically, I'm stuck on step 3 which is recording the deposit. The issue is that I can't record the deposit manually if the person is paying with QB Payments, those transactions get automatically imported and matched. So I'm wondering if I'm able to send an invoice, and then only request a portion of payment, so that when the customer receives the invoice they can just click "Pay Deposit" instead of paying the full amount. Is there a way to do that? If not, how do you guys solve it?
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