What is the best coding in MYOB for gift cards purchased for a thank you to employees for their service over the year. Each employee received a $50 or $100.00 gift card. I have coded to staff amentities for now.
Hi
You could use 'staff amenities' - in one of my companies I changed the account title to 'Staff Amenities (inc. catering, gifts).
Alternatively, create a separate account for 'Gifts to Employees'.
Thanks
vidario
Hi
You could use 'staff amenities' - in one of my companies I changed the account title to 'Staff Amenities (inc. catering, gifts).
Alternatively, create a separate account for 'Gifts to Employees'.
Thanks
vidario
Hello HomeRanch
Welcome to the Community Forum.
You are able to set up gift cards to be used for your company following this Help Article on Gift Cards. These are more for customers to use with your company.
But if you are giving them to an employee, it almost sounds like a bonus to be added to the employee's pay. Can you please provide some more details on how you handle this situation so I may better advise? I would also recommend checking our Help Article on employee bonuses and commissions.
This doesn't relate to setting up gift cards in MYOB. They're referring to gift vouchers given as gifts to employees by the employer, which is different from a bonus.
The relevant MYOB article would be this one:
https://www.myob.com/au/blog/giving-tax-deductible-fbt-free-christmas-gifts/
