How can I determine the balance of outstanding and expired gift cards at the end of the year?

This document describes which reports are needed at the end of the year to determine the outstanding balance of the gift cards, along with the balance of the expired gift cards for that year.

The outstanding balance of the gift cards is an amount that needs to be recorded in the accounting as an outstanding liability to consumers. Determine that balance every year on 31/12 and compare it with the balance of 31/12 of the previous year. The difference between those two balances is the increase or decrease in the outstanding liability.

The total value of the outstanding gift cards can be determined by printing report 139 on 31/12. Choose 'Expired gift cards = No' for this. This report will provide the total remaining balance of all non-expired gift cards at the bottom.

The balance of any expired gift cards is no longer part of this report and these expired gift cards will have already led to a reduction in the total outstanding gift card balance.

Sometimes it can be interesting to know the value of the expired gift cards in a specific year. By printing the report with 'Expired gift cards = Yes' and specifying 'Expired from' and 'Expired to' fields as 1/1/<year> and 31/12/<year> respectively, an overview will appear with all gift cards that have expired in that year. The total balance at the bottom of the report will then indicate the total amount. But important: This information is already part of the previously printed total balance of outstanding gift cards.

Please note: It is important to print this report on 31/12, because RetailVista does not keep track of historical gift card balances! The report shows the balance of the gift cards at the time of printing the report. It is possible, however, to determine a historical balance of the gift cards afterwards through a small detour. Print a transaction overview (report 138) and only print the gift cards with a transaction date up to and including 31/12/<year>. Also select 'Expired gift cards = No' and then take over the 'Total transaction balance' at the bottom of the report. That is the sum of all transactions up to and including 31/12<year> and is still the balance as of 31/12 in this way.