Setting Up Gift Card SKUs (Do it Best, True Value, In-Store)

Use the following procedure to set up Gift Card SKUs that you will use at POS whenever you sell a gift card. You can simply set up one "generic" SKU, such as "GC," to sell gift cards in any denomination, or you may choose to set up multiple SKUs by dollar amount. Click here for an example.

For example, if you want to sell gift cards in ten-dollar increments, you'd set up an SKU such as GC10 for ten dollar gift cards, GC20 for twenty-dollar gift cards, and so on, up to $250. This setup will help you track which denominations are the most popular, and it can help your clerks "sell up" to a higher denomination. For example, if the customer wants to buy a $15 dollar gift card, the clerk can inform the customer that the closest denomination is a $20 dollar gift card.

Also use this procedure to set up a special Add Funds SKU to handle adding funds to existing Gift Cards.

Set Up Gift Card SKUs

In Department Maintenance, set up a unique department for gift cards. If you participate in more than one gift card program, you might want to set up a separate department for each program.

Setting up a unique department is important because the sale of gift cards is not revenue, but rather a liability; therefore, you can associate the Gift Card department with a G/L liability account to which its sales are passed off.

In Inventory Maintenance, add the gift card SKU(s) using the following guidelines:

Use an SKU number that's easy to remember. If you're setting up only one SKU, use something like "GC." If you're setting up multiple SKUs by denomination, use a setup like GC10 for ten-dollar gift cards, GC20 for twenty-dollar gift cards, GC30 for thirty-dollar gift cards, and so on.

Important:

If you participate in more than one gift card program (e.g., you use both True Value gift cards and In-Store gift cards), you must set up a separate SKU (or SKUs, if you set them up by dollar amount) for each program. You can use the first letter of the program name as the first digit of the SKU. For example, IGC could be used for In-Store gift cards, TGC for True Value gift cards, etc.

For each SKU you set up, do the following on the Codes tab:

Enter N in the "Taxable," "Keep Prices," and "Discountable" fields.
Set the Special Record field to M (Miscellaneous Item) to have the sale of a gift card recorded to non-merchandise sales.
Click the Additional Codes Flags hyperlink, and set the Gift Card SKU field to Y.

Set Up Add Funds SKU

In Inventory Maintenance, add the Add Funds SKU using the following guidelines:

Use an SKU number that's easy to remember, such as ADDFUNDS.

Use the department you set up for Gift Cards.

Do the following on the Codes tab:

Enter N in the "Taxable," "Keep Prices," and "Discountable" fields.
Set the Special Record field to M (Miscellaneous Item) to have the Add Funds transaction recorded to non-merchandise sales.
Click the Additional Codes Flags hyperlink, and set the Gift Card SKU field to A—Add Funds.

How to Sell or Add Funds to a Gift Card

To sell or Add Funds to Gift Cards at POS, click here for the procedure.