Quote:
Originally Posted by nesler
Um, they've already received payment, at the point at which the gift cards were purchased. So shouldn't that income already be accounted for?
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Nope. I am pretty sure accounting rules require that gift card income not be counted until the gift cards are used. In part, I think that is due to the fact that you never can be sure of the profit until you know the wholesale cost of the items purchased with the gift card.
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Bill