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When I receive the cheuqe sent from Groupon site, I will imput the transaction as the screen shot below:.

Accounting For Gift Cards | Double Entry Bookkeeping

When creating Groupons to give out you would have a set number of Groupons each with their own number. Make sure you mention in the comment section how Groupons there is so that you can easily track the numbers cashed in. Also mention the expiry date if there is one. Next is the monthly reimbursements from Groupon.

Enter this as a monthly General Journal entry or as a sales invoice to Groupon without taxes and enter the amount paid to a revenue account called 'Expenses Reimbursed'. Site Search User. Canada More. Sage 50 Accounting - Canadian Edition.

Adjusting Journal Entry Definition

Sage 50 Accounting - Canadian Edition requires membership for participation - click to join. Share More Cancel. Correctly posting a sale involving a coupon.

Thread starter sbernelli Start date May 17, I am definitely not an accountant but I am trying to assist a small jewelry store with their books. They use Peachtree. Wouldn't the journal entry be the same for both coupons? Also, sometimes the coupons are given to new employees as a "signing bonus". Would the journal entries be the same as above?

Bill Lentz. David Jensen. I'm a controller for a jewelry store, and we do similar promotions. We just record the sale net, and keep the coupons.

Please help with a journal entry

We'll add them up to see how many were used at the end of the period. Best regards Bill.

Current Liabilities Accounting (Coupons & Premiums Offerred With Sales Of Products)

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Gift Cards Sale

Help with a journal entry please. May 17, Germany Journal entries - credit note. Sep 17,