Gift Cards on Chart of Accounts

Gift Cards on Chart of Accounts

Gift Cards on Chart of Accounts

What account on the chart of accounts do I have to use when I bought gift cards as Christmas presents for our employees?

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Dec 28, 2017
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by: Stephanie

Thank you for your question about what account on the Chart of Accounts you should use when you buy gift cards as Christmas presents for your employees.

When you purchase the gift cards for your employees, you can categorize the cost of the gift cards in a direct gift expense account on the chart of accounts by debiting the expense account and crediting the bank account.

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