Every unredeemed gift card is a liability
money in your bank that you still owe in work. Finances, then Gift Cards, tracks the outstanding total so you know what that number is.
Why it matters
Gift card money feels like income the day it arrives and it is not. Spending December takings in January leaves you doing the work in February with nothing coming in for it. Businesses get caught by this every year.
What the total tells you
It is the sum of every balance still out there. Treat it as a debt to be delivered rather than money in hand.
Talking to your accountant
Gift card income is usually recognised when the card is redeemed rather than when it is sold. Your accountant will want the outstanding balance at your year end, and this is where you get it.
Common questions
Is a gift card sale counted as revenue straight away?
Speak to your accountant. The usual treatment recognises it on redemption, because until then you owe the work.
What happens to cards that are never redeemed?
They stay on your liability until they are used or expire under your terms. Unredeemed balances are eventually a gain, but not until then.
Can I see which cards are still outstanding?
Yes. The gift card list shows each card with its remaining balance.