I thought I'd backtrack to the original query....

On Wed, 6 Dec 2000 10:17:55 -0500 Matthew White
<[log in to unmask]> writes:
>
> We are considering offering gift certificates in our retail shops
> and online. I was curious what other small to medium size museums do in


I'm with a small history museum in Missouri and deal with the gift shop
and bookkeeping (among other duties!)

Before answering Matthew's specific questions I want to ask -- for most
museums, is this _really_ a big issue?  We have a couple of people who
periodically buy gift certificates, but in almost two years in this
position I've _never_ had one redeemed.  (They are usually for $5.)  I
think they are generally given to friends and family who are not familiar
with the Museum, so I do include brochures and calendars of events, but
to no avail.

If people are like me, coupons and gift certificates get misplaced.  Or
I'll be out and about when I decide to stop someplace, but the coupon is
at home.  So they often go unused.

As to our specific practices...

> €Do you put an expiration date on them?
> €If so how long do you give for redemption?

We do ("one year from date of issue").

> €What do you do if someone brings in an expired one, just send them
> packing?

Heavens no!  As one poster (or was it two posters?) notes, you've had use
of the money and the prices tend to inflate over time.  I do not see what
you are out financially by redeeming the certificate.    And I can see
what you would lose in good will by denying someone the use of the
certificate.

> €If the total purchase is less than the certificate, do you give
> money or store credit? Or do they have to spend the full amount?

As I've said, the certificates we sell are small and not redeemed.
However, while I wouldn't redeem for full face value (i.e., cash it in) I
would not hesitate to give cash back.  Once again, it's a matter of good
will.

> €When you account for them are they carried as a liability on your
> books
> until they are redeemed?

Our gift shop bookkeeping is fairly simple.  I use a spreadsheet, then at
the end of the month transfer the cost of goods sold to Quickbooks Pro.
So I include the gift certificate as gift shop income, then (in the event
one is redeemed) I will "discount" the purchased item(s) appropriately in
the spreadsheet.  It should balance out in the end.  (And the former
accounting professor on our finance committee hasn't given me "the look"
over it, so it must be generally OK!)

In the long run, if they are not redeemed, it's just "bonus money" in the
gift shop account.

> €Does it have to be redeemed for merchandise or can it be used for
> admission a membership as well?

We don't charge admission, but I would have no qualms about crediting a
certificate toward membership.  And speaking personally, if I received a
gift certificate I'd appreciate the opportunity to use it toward
admission.

In the bookkeeping system we use, however, I would need to make a journal
entry to move the money from gift shop income to membership (or
admissions).

> €Has anyone ever successfully and efficiently implemented gift
> certificate sales and redemption on line?

If your gift shop is extensively available on-line, I don't see a problem
with offering gift certificates on-line.  If you are doing sales on-line,
presumably you already have a secure server.  As for the logistics,
unless your sales are high volume, couldn't you just give the purchaser a
"code" to give the recipient?  If someone tries to use the same "code"
twice, indicating that there has apparently been some "misunderstanding"
would probably make the unscrupulous back down.

So much of this depends on the volume of your gift shop.  We are small
enough (both in sales volume and number of staff dealing with the front
desk) that we can be fairly relaxed about these matters.  Your mileage
may vary.

Anne

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Anne M. Baker
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