Easier handling of Gift Card Liabilities
Feb 17, 2020

Easier handling of Gift Card Liabilities

Home » Blog » Easier handling of Gift Card Liabilities

Purchases of Shopify Gift Cards will now be reported separately from Product Sales so that they can easily be credited to a Liability account

KEY CHANGES

  • All gift Card Sales and usage will now be grouped on the Accounts and Taxes page in the ‘Gift Card Liabilities’ section.

  • A new Line Item ‘GiftCardLiability’ replaces ‘ProductSalesNotTaxed - Gift Card’

  • A2X will recommend or create by default a Xero and QuickBooks Liability Account to account for purchases of Gift Cards and Payments from Gift Cards.

FIND OUT MORE To learn more about this change to how Gift Cards are handled at our support article Improved Accounting for Shopify Gift Cards


Share On:

Ready to get started?

Save time, work smarter and get reliable Amazon and Shopify financials you can trust, in a matter of minutes.

Try A2X for Free