Gift cards in the books: track issue, redemption and outstanding balances

Take the completed register to the practitioner who checks your voucher accounting. Confirm the voucher tax classification and expiry terms before applying them to your own cards.

Identify the type and status of each balance

Record the card's issue date, type, terms, face value and current status. Separate a paid $100 card from $100 of free promotional credit; the matching face values do not make the underlying transactions identical. Record reissues without adding the same obligation twice.

The ACCC gift-card guidance sets a minimum three-year validity for most purchased cards supplied from 1 November 2019, with exceptions. Do not apply that headline to every promotional voucher or return credit without checking its classification and terms.

Build a roll-forward that explains the balance

Movement	Face value	Evidence
Opening unused value	$2,000	Previous closing register
New paid cards issued	+$600	Issue records and payment IDs
Value redeemed	−$450	Gift tender on completed sales
Approved cancellation and refund	−$100	Card cancellation and refund references
Closing unused value	$2,050	Sum of individual remaining balances

Original ASBG worksheet with fictional AUD figures. The table is also the text equivalent of the example.

The value check is $2,000 + $600 − $450 − $100 = $2,050. It assumes no promotional issue, expiry adjustment or chargeback. Payment-processing costs belong in a separate reconciliation; they do not reduce the face value the customer can spend.

Follow one card into a sale

In a fictional example, CARD-41 starts with $100. A $65 redemption leaves $35, and a later $20 redemption leaves $15. Each redemption needs its sale ID and timestamp. If the first sale totals $80, show $65 gift value and $15 from the other successful tender, with one $80 sale.

Avoid recording the redemption as another receipt of cash from the card buyer. The split-tender guide shows how payment allocations reconcile to one purchase; your practitioner needs to approve the stored-value accounting mapping.

Give the adviser the voucher facts

Retain what the voucher entitles its holder to receive, its stated value, what was paid, any restrictions and whether it covers a specified supply. Ask for a written tax classification and the entries at issue and redemption. The legal name “gift card” alone does not establish the relevant GST treatment.

Keep any expiry, refund or unredeemed-balance adjustment in an exception list until its basis is approved. Do not erase an old balance solely because there has been no recent activity. Confirm the tax entries against the ATO guidance that applies to your voucher.

Compare the register with the POS and ledger

Sum individual balances and compare them with the POS report and the general-ledger balance chosen by your adviser. Investigate duplicate imports, manual credits and redemptions missing a completed sale. Keep full redeemable codes out of shared screenshots and unsecured email attachments.

Use the balance-sheet guide for the wider review. Customer remedies belong in the consumer-guarantees guide, while the payments hub covers day-to-day payment records.

Key takeaways

• Reconcile individual unused balances to the roll-forward.
• Keep issue, redemption and other payment tenders distinct.
• Review voucher classification, expiry and tax mapping before adjusting obligations.

Gift-card roll-forward
Card reference (restricted access) / type / issue terms:
Opening unused value:
Paid value issued / promotional value separately:
Redemptions linked to sales:
Refund or cancellation adjustments and authority:
Closing unused value:
POS gift-card report / ledger comparison:
Expiry and GST classification review:

Where to get help

• ACCC: gift cards and discount vouchers
• ACCC: repairs, replacements and refunds