Store credit records: track the obligation until it is used

Keep the decision record beside the credit ledger when you review it with your adviser. Confirm the consumer entitlement, expiry terms and tax treatment for the particular credit.

Identify why the credit exists

Separate a credit issued for an agreed change-of-mind return from a remedy for faulty goods, a goodwill gesture and a promotion. Retain the original receipt and the decision record. A free-text note saying “customer happy” is weaker evidence than the actual terms and correspondence.

The ACCC explains that refunds should use the original payment form unless the parties agree otherwise. A business cannot remove consumer guarantees with its own policy. Have an uncertain remedy checked before issuing or imposing a credit.

Keep a customer balance that can be reproduced

Date / event	Credit issued	Credit used	Balance
18 September: approved credit	$90	$0	$90
21 September: purchase SALE-52	$0	$35	$55
26 September: purchase SALE-73	$0	$20	$35

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

The remaining $35 is $90 − $35 − $20. For a $50 purchase using the first $35 redemption, record the other $15 tender separately. There is one $50 sale, not a $35 sale plus another $50 sale. Keep the stock return linked to the original sale too.

If a credit is reissued after a lost code, cancel or transfer the earlier balance through the supported workflow. Issuing another $90 while the first code remains usable doubles the value available. Retain both references and the reason for the replacement.

Compare the system’s credit mechanism with your records

Some products use a gift-card balance to deliver store credit. Square describes refunds to gift cards in its returns guidance. That implementation does not determine the legal or tax classification of every credit issued through it.

Ask your adviser which account holds the outstanding obligation, how the original sale is adjusted and how redemption clears the balance. Keep those instructions with the integration mapping. Avoid adding a manual credit note when the POS export has already created the required correction.

Review expiry and dormant balances

The ACCC gift-card guidance includes different rules and exceptions for different kinds of value. Confirm whether the particular store credit falls within those rules before setting an expiry or clearing an old balance. Preserve the terms in force when it was issued.

Keep unresolved or dormant balances on an exception list with a next action. A customer not visiting recently is not sufficient evidence for deleting their balance. Any approved expiry or correction needs a dated record explaining the change.

Close the period without exposing redeemable codes

Reconcile the sum of customer balances with the POS credit report and the ledger account. Use masked references in a shared worksheet; a full redeemable code can allow someone to spend the credit. Restrict the operational record to staff who need it.

Compare totals with the balance-sheet guide. For a return across two sales systems, use the cross-channel checklist; related tasks are in the payments hub.

Key takeaways

• Link the credit to an approved decision and original sale.
• Record every redemption and preserve the unused value.
• Review expiry and tax mapping rather than inferring them from the software label.

Store-credit ledger
Credit reference / restricted customer reference:
Original sale and return references:
Reason and approved remedy / evidence of agreement:
Issue amount and date:
Redemptions: date / sale ID / amount:
Current unused balance:
Expiry basis and tax mapping review:
POS and ledger totals checked:

Where to get help

• ACCC: repairs, replacements and refunds
• ACCC: gift cards and discount vouchers
• Square: returns across locations and unlinked refunds