How do I recognize funds from expired gift cards? – Help Center

Problem

When a gift card expires and not all of the funds were redeemed, those funds stay as Gift Card Deferred Revenue. This can lead to discrepancies in reporting when gift cards are left unredeemed or partially redeemed.

Gift cards are redeemable up to and including the last date. This is due to varying global regulations on gift card expirations.

Solution

To recognize unredeemed funds from expired gift cards, create a stock item called Gift Card expiry in Venue Manager and add it to POS. From there, you can apply the unused funds from gift cards to that stock item. The funds will then appear in the Revenue Recognition report as recognized revenue.

Follow the steps below to recognize revenue from expired gift cards.

Create a gift card expiry stock item

From Venue Manager, go to Products > Create product.
Select Stock.
Enter Gift card expiry into the name field.
Select Create variation in the Stock details section.
Select the checkbox for Unlimited.
Select the checkbox for User defined cost.
Select Save.
Select Tax override and select No tax - 0% from the dropdown.
Select Save.

Add the gift card expiry stock item to POS

From Venue Manager, go to Apps > Point of Sale > Templates.
Select the template you want to assign the stock item to.
Select Unlock to edit in the top-right hand corner.
Select Yes, edit template.
Select Add menu.
Enter Expiry as the menu name.
Select Select products and add the Gift card expiry stock item.
Select Done.
Select Save.

Apply funds from expired gift cards to the expiry stock item

From POS, select the Expiry menu.
Select the Gift card expiry stock item.
Enter the remaining amount on the gift card in the Price field.
Select Apply.
Select the green Pay button.
Select Gift card.
Enter the gift card number of the expired gift card.
Select Pay Gift card.

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