How do I account for a $50 gift certificate in my daily sales when redeemed when it was purchased before i started using quickbooks?

Hello there, @Sue197.

I'll ensure to guide you in recording the gift certificate that was made before using QuickBooks Online (QBO).

When you accept payment for a gift certificate, you accept the liability to redeem the gift certificate. To fulfill that obligation and track the transaction in QuickBooks Online, you need to set up a liability account and special items to use on a gift certificate invoice.

Here's how:

1. Click on the + New.
2. Select Invoice.
3. On the first line, select the Product/Service being bought and fill out the quantity and amount.
4. On the second line, click the Product/Service for Gift Certificates (the one linking to a liability account), and enter a negative number for the amount of the gift certificate.

Moreover, I suggest consulting with your accountant for further guidance in accounting gift certificates. Also, to ensure the accuracy of your books since they know what's best for your business.

Please refer to this article for more details on managing gift certificates in QuickBooks: Sell and redeem gift cards or certificates in QuickBooks Online.

I'm leaving you this article in case you want to pull up reports to view useful information about your business: Run reports in QuickBooks Online.

Tag me in the comment section if you have follow-up questions about managing gift certificates. I'll be around to help you.