POS Giftcard Processing

The Point of sale system allows you to sell giftcards to your customers, and it allows your customer to use these giftcards to purchase goods and services  from you.

Giftcard Item and Product Line Setup

The POS system uses a specific nonstock item and a dedicated product line for gift card processing. 

Product Line Setup

When you sell gift cards, you are not selling a product or service.  You are essentially recognizing a liability (the amount of money that you received from the customer, for a gift card they will redeem at a future date).  The sale of a gift card needs to be recorded in specific accounts in the general ledger, so that the amount owed to the customer is shown as a liability.

Gift Card Product Line Autopost Accounts

Sales 5499

Cost of Sales 610

Inventory 150

 Rebates Receivable 320

Gift Card Item Setup

The StreamV applications use a specific item number for gift card processing.  The item GIFTCARD should be created in the Product Catalog file as a nonstock and nontaxable item.  The Catalog record should also be assigned to the product line GIFTCARD, which is a dedicated product line, used only for PO. 

Giftcard Processing Overview

Selling a Giftcard

Applying a GIFTCARD payment in the POS Program

Applying a GIFTCARD payment using Cash Application

Adjusting a GiftCard Balance



Point of Sale