Gift Certificates

Objective ：

For proper accounting and administration of selling “Gift Certificates”.

Procedure ：

1. TERMS OF GIFT CERTIFICATES 

   1. Gift certificate is valid up to the value stated on the certificate only. Amounts exceeding the stated value must be borne by the certificate holder. Payment may be made in cash or by credit card.

   2. Gift certificates are valid according the indicate date in the gift and no extension of the validity date will be entertained.

   3. Certificate is not redeemable for cash and no refunds will be entertained for portions not utilized or consumed.

   4. No replacements will be made for loss of gift certificates.

      
      

2. SELLING POINTS 

   Gift certificate can be purchase at Director of Finance & Business Support’s Office.

   
   

3. PROCEDURES 

   ISSUING PROCEDURES 

   1. Gift certificate are issued and kept by Income Auditor.

   2. The guest contact departments should channel the guest requests with the billing supporting, such as name of the guests, number of certificates required, value of each gift certificates and required, value of each gift certificates and mode of payment to the Income Auditor who will prepare the request gift certificates.

      
      

4. SELLING PROCEDURES 

   1. Upon receiving information from the guest or guest contact department The Income auditor will prepare the gift certificate(s) and Debit Note. She will collect payment from guest or guest contact personnel upon presentation of the gift certificates.

   2. Cheque/cash collected shall be recorded in the “cash/Cheque Received Summary”.

      
      

5. CASHIERING PROCEDURES 

   1. Guest Check or Charge Voucher is to be made out for services or F&B consumed by the bearer of the gift certificates under similar procedure whereby a Guest Check or Charge Voucher would be made out for a paying guest.

      
      

   2. If the check amount is more than the gift certificate value, the value of the gift certificates utilized is to be keyed on the system as “city ledger settlement” and the gift certificate must be stamped with “PAID”. The check number is to be written on the gift certificate by the Cashier. The balance of the check after deducting the gift certificate value will be settled by the gift certificate bearer by cash or credit card.

   3. If the check amount is less than the gift certificate value then the check amount is to be credited to the check. The check number and amount utilized are to be written on the gift certificate by the cashier. The gift certificate must be stamped with “PAID”. And no balance refunds.

   4. Cashier is to submit the gift certificates utilized together with guest checks to the Income Auditor. The Income Auditor will submit the gift certificate to the Accounts Receivable, after checking, for journal purpose.

   5. General Ledger Section will print out a monthly Gift Certificate Statement of gift certificates sold and utilized. Assistant Director of Finance & Business Support or Accountant will double check this statement.

   6. Unutilized value of gift certificates are to be credited to other income.

   7. Accounting Entries  

   8. On Sale of Gift Certificates  

      Dr City Ledger / Credit Card / Cash 

      Cr Gift Certificate  

      
      

6. On utilization 

   For amount Utilized 

   Dr    Gift Certificates 

   Cash / Credit Card (if necessary )

   Cr   Outlet Sales (as consumed per actual price) 

   
   

   For Other Income 

   Dr Gift Certificates 

   Cr Other Income – Miscellaneous