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How to Change Receiving Account for Gift Card Items in QuickBooks

This article helps Webgility Desktop users update the receiving account for gift card items in Webgility Desktop to ensure accurate posting in QuickBooks Desktop. If gift card sales are posting to the wrong account, follow this step-by-step guide to correct the configuration and prevent accounting discrepancies.

Step-by-Step Instructions

  1. Locate Gift Card Items

    • Navigate to the Lists menu in QuickBooks.

    • Select Item List.

    • Find each gift card item that needs updating.

  2. Edit the Receiving Account

    • Right-click on a gift card item and select Edit Item.

    • In the Account or Income Account field (label varies by QuickBooks version), change the account from COGS to Gift Card Receivables (or the relevant receivables account for gift cards).

    • Click OK to save the changes.

    • Repeat this for all relevant gift card items.

  3. Save and Verify Changes

    • Confirm that all gift card items now show Gift Card Receivables as the receiving account.

    • Double-check to ensure account mappings are correct to avoid discrepancies.

  4. Download the Latest Data : Steps to Download the Latest Data:

    1. To download QuicKBooks data from scratch, first clear the date and time in the Advanced Settings.

    2. Navigate to Connections > Sales Channel > Advanced Settings to access Advanced Settings.

    3. Under the Application tab, click Clear next to Last download date for QuicKBooks Item.
      This will reset the downloaded data and prepare it for a fresh update.
      Click Save, then Close.

    4. Next, go to Connections > Get Latest Data & Settings.

    5. In the pop-up window, locate Download QuickBooks settings and click Download Data.

    6. This action will download the QuickBooks data from scratch.

    Wait for the synchronization to complete and ensure there are no sync errors.

  5. Review Transactions

    • Run a test gift card sale transaction.

    • Verify that the transaction posts to the Gift Card Receivables account correctly.

    • Check reports to confirm all new gift card sales use the updated account.

Notes

  • Historical gift card transactions will remain mapped to the original COGS account unless journal entries are manually adjusted.

  • Always create a backup of your QuickBooks data before making bulk changes to account assignments.