Gift Certificate on Chart of Accounts

Gift Certificate on Chart of Accounts

Gift Certificate on Chart of Accounts

If we purchased a gift certificate for a client using our business visa, what Chart of Account category would that fall under?

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Dec 12, 2017
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Chart of Account Category For Gift Certificates
by: Stephanie

If you purchase a gift certificate for a client using your business visa, you would categorize this as a Gift Expense on the Chart of Accounts which would be showing as:

DEBIT Gift Expense
CREDIT Visa Credit Card (Liability)

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