Gift Certificate Revenue

We classify it as other income.

I am curious where other organizations classify expired gift certificate revenue. My inclination would be to call it other earned revenue. I have currently written it off to single ticket revenue, but then I am having trouble reconciling to Tessitura reports for revenue.

Please share how your handle expired gift cerficiates, thanks.

This message was sent automatically to you by www.tessituranetwork.com because you subscribed to the Tessitura Finance Forum. You may reply to this message to post to the Finance forum or visit the site to search, read and post to the forums. In the interest of keeping the forum posts from becoming cluttered, we encourage you to delete previous message text from your reply before sending. Thank you!

The Science Museum does not expire our old gift certificates, though we put on an expiration date to create some sense of urgency. We currently use gift cards, which by Minnesota law, cannot expire The use of the gift (stored value) cards gives us the ability to accept them in our Explore Store and parking ramp, which are not tied to Tessitura, as well as our third party food vendor.

At the RSC, we have set up an income code within Marketing, which we write off the expired Gift Voucher income to!

Marketing can then use this income for any gift voucher related costs!

Thanks

Andrew