Microsoft KB Archive/928994

= How to record gift certificate sales and how to redeem gift certificates in Microsoft Office Small Business Accounting 2006, in Accounting Professional, or in Accounting Express =

Article ID: 928994

Article Last Modified on 11/3/2007

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APPLIES TO


 * Microsoft Office Accounting Professional 2008
 * Microsoft Office Accounting Express 2008
 * Microsoft Office Small Business Accounting 2006

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INTRODUCTION
This article describes how to record gift certificate sales and how to redeem gift certificates in Microsoft Office Small Business Accounting 2006, in Microsoft Office Accounting Professional, or in Microsoft Office Accounting Express.



How to record gift certificate sales
To record gift certificate sales, follow these steps:  Create a new liability account. To do this, follow these steps:  Click the Company menu, click New Account, click the Current liability option or the Long-term liability option, and then click OK. Type the account number in the Account no field, type the account name in the Account name field, and then click Save and Close.

Note Typically, the account type should be a current liability if the gift certificates expire within one year. Create a non-inventory item whose name is &quot;Gift Certificate.&quot; To do this, follow these steps:  Click the Customers menu, click New, and then click New Item. Click the Non-Inventory Item option, and then click OK.</li> In the Non-Inventory Item dialog box, type Gift Certificate in the Item name field, select the liability account that you created in step 1 in the Income account list, and then click to clear the I buy this item check box.</li> Type the price of the gift certificate in the Sales price field, and then click Save and Close.</li></ol>

Note If you have different denominations of gift certificates, repeat steps 2a through 2d to create gift certificates for different denominations. Or, you can leave the value in the Sales price field as &quot;$0.00&quot; and type the appropriate amount at the time of sale.</li> Create a new invoice or a new cash sale, and then select the gift certificate that you created in step 2 as an item on the invoice.

For example, if you want to create a new invoice to record the gift certificate sales, follow these steps:  Click the Customers menu, click New, and then click New Invoice.</li> Select a customer name in the Customer name list.</li> In the Products and services area, select the gift certificate that you created in step 2.</li></ol> </li></ol>

How to redeem gift certificates
To redeem the gift certificates, follow these steps:
 * 1) Double-click the invoice that you want to apply the gift certificate to, or create a new invoice.
 * 2) In the Invoice dialog box, select the gift certificate that you want to redeem in the Name list in the Products and services area.
 * 3) If you have several gift certificate denominations, select the correct gift certificate denomination, and then enter a negative quantity in the Qty. field for each denomination type. If you do not have several gift certificate denominations, type -1 in the Qty. field, and then type the redemption value of the gift certificate in the Unit Price field.

Note The total value of the invoice must be more than zero or equal to zero.

Additional query words: MOA

Keywords: kbhowto kbmbsmigrate KB928994

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