SuiteTip #1 Using Gift Cards for Deposits in SuitePOS for NetSuite
Imagine a customer wants to book a party in advance, order an expensive custom product with lead time, or purchase a pre-paid service to be used by another recipient.
The simplest way to do this in SuitePOS and maintain US GAAP compliance (a deposit is not income, but a liability) is by selling a Gift Card using SuitePOS.
Our SuitePOS Gift Card Module leverages the NetSuite’s Gift Certificate engine. This assures proper accounting is enforced and provides a single system of truth and simplified processes for these types of transactions.
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