To sync gift cards, make their income accounts a liability. Change the deposit account on the payment or sales receipt to an asset account.
How do I set these up?
Cloud Cart will sync gift cards as Set up the gift cards as non inventory or service items. Set the income account to a liability account:
In Cloud Cart, hover over the gear and click rules engine. Click add new. If you sync invoices, select map invoice deposit account. Otherwise, select map sales receipt deposit account. The field is order payment method. The comparison is matches. For more info on matching deposit accounts, read this guide.
What happens when they are used?
Gift cards are recorded as a discount on an order. They appear as a negative number. QuickBooks will credit the liability account with a negative number, which debits the liability account. In this report, the GC liability account was credited and debited. We created a sales receipt for a gift card. Then, we created a sales receipt that used the gift card as a discount.