We are considering selling gift cards charged with £30 credit for a payment of £25 to (1) help cash flow and (2) to encourage more regular patronage of our bar. How do we account/bookkeep for this? If a drink is rung into the Square sytem for (say) £3.00 then our sale is recorded as £3.00 (less Square costs) but the effective income is only £2.50 so Sales and Income never match?
We have only just bought some gift cards to sell and so we are new to this.
