Gift Card Accounting Services
Gift cards and related “deferred revenue” accounts are significant balances for many retailers. Our experience has shown that these balances are sensitive to the accounting policies and assumptions made regarding their sales and redemptions. In addition, retailers are becoming more and more reliant on the POS systems to capture transactions, and reconcile these to statements provided by third-party providers. Due to the many assumptions as well as the volumes involved, these balances are at risk of being misstated in the financial statements. Accordingly, we can assist with the evaluation, internal audit and/or remediation of this process to ensure the procedures and related controls are appropriately designed and operating effectively.
