Restaurant gift cards

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  • BHoffman
    Senior Member
    • Feb 2008
    • 1768

    #1

    Restaurant gift cards

    Got a new restaurant client who has paid some bills by issuing gift cards.

    How do I record that? Got a debit to expense and where does the credit go?

    Thanks for advice.
  • JG EA
    Senior Member
    • Jul 2005
    • 2176

    #2
    An idea: Here is a site that tells what accounts to create:



    Although it is for the sale of gift certificates the principle may apply. You couldn't just do a straight withdrawal from food and the markup in income I wouldn't think because of sales taxes
    JG

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    • BHoffman
      Senior Member
      • Feb 2008
      • 1768

      #3
      Thanks again, JG EA.

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