| When do record Gift Certificates I have a question about when do I post Gift certificates. At the time of sale or at the time of redemption. Currently I post them at the time of sale. But I think my software program also posts it at the time of redemption. So I think I am posting it twice.
For Example
Receipts, Sales, Captured Tips, Taxes
Cash 2830.99
Change -3.90
Checks 24.59
Credit Cards 1611.89
Gift Certificates Redemeed 140.80
Total 4604.37
I have been using that number (4604.37) as my total revenue, but since I post my gift certificates at the time of sale, am I double counting gift certificates at the time of Sale and at redemption?
Shouldn't my Total revenue be
4604.37 less the gift cert redemmed |