Using Gift Cards to make a purchase
Hello In purchasing a non-current asset (a laptop) from an electronics company, I used two gift cards and paid the balance using cash via the business debit card. I have written this out as a General Journal entry below in case the above was unclear. Dr Laptop $1855.45 Dr GST clearing $ 185.55 Cr Bank $1891 Cr Gift Card A $100 Cr Gift Card B $50 I have not taken any action (before the time of the laptop purchase or otherwise) to show the transfer of the Gift Cards into the control of the firm in the MYOB system. And obviously, the transaction that will appear in my bank feed will be for $1891, not the $2041 sales price total. What steps should I take to ensure these events are correctly represented in MYOB? Namely, how should I deal with receiving the Gift Cards, and what should I do when creating the bill? (so that I can claim the GST on the total sale, not just the portion that was transacted by card).
