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For accountants & bookkeepers
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The technical brief
Face value vouchers defer GST to redemption; non-face value vouchers report GST at sale. The voucher type is set when your client creates it - and it can't drift later.
Cash from voucher sales sits as a contract liability until redeemed. Partial redemptions are tracked dollar-by-dollar against each voucher's remaining balance.
Once a voucher passes the ACCC three-year minimum and expires unredeemed, the residual balance is moved to breakage income with the date and journal kept in the ledger.
Increasing adjustments on expired face value vouchers (1/11th of unredeemed value) flow into a BAS-ready report each quarter - no manual reconciliation.
Every issue, redemption, partial, void, and expiry is timestamped and immutable. You get the working paper trail an ATO review will actually accept.
We map gift voucher liability, redemption revenue, breakage income, and GST clearing to your client's existing accounts during onboarding - not ours.
What you’re probably looking at today
The result is a gift card liability that drifts from the underlying ledger, GST treated as if every voucher were non-face value, and breakage that’s either never recognised or recognised three years too early. None of this survives an ATO review well.
What sits in front of you
Worked example
When a $100 face value voucher sells, cash debits and the gift voucher liability credits - GST is not yet payable. On redemption, the liability clears, revenue recognises, and 1/11th of the redeemed value posts to GST collected.
VoucherGrid posts those journals for you, every time, in the right period - and the redemption ledger lines up to the cent with the BAS.
Liability report
The Outstanding Liability report gives a single, dated figure for unredeemed voucher value across all of your client's stores - broken down by voucher type, issue cohort, and time-to-expiry.
Export as CSV or PDF, or have it emailed to your inbox on a quarterly schedule. It reconciles to the gift card liability account on the balance sheet without a working paper in sight.
Connections
On Premium and Professional, journal entries sync to Xero or QBO in near real time. Each voucher event posts as a discrete journal with tracking categories preserved, so your client's existing reporting structure stays intact.
Lite-tier clients get Xero-ready CSV exports they (or you) can import on a monthly cadence. MYOB AccountRight is in private beta.