Do we have access to the outstanding balance?

[Bmama]

I'm just wondering if we have access to that outstanding balance if the e-gift cards are never used? Or does it just stay sitting there forever?  

[Donnie-M]

@Bmama When the sale is made it is recorded as a gift card sale and will be part of your total collected for the day.  The balance will sit there for a long time and I think by law you cannot 0 the balance depending on your state rules.

I think what you are asking is an accounting question.  When you sell an e-gift card you actually collect the money for the gift card and it is part of your sales.  When it is redeemed it will show up as gift card but will be part of your gross sales.  When a customer redeems the gift card the sale has already been paid for on the initial purchase.  I don't think there is any kind of hold back or anything of that nature where square is holding your money.

[alexandriak]

some states paid gift cards can expire, but most states you can't do that. Only if the gift card was donated

[WineSneak]

We have been with Square since 2018. The outstanding gift card balance on our dashboard shows $7,124.50. I know there haven't been that many gift cards sold. Any idea how this is computed?

[JJ_]

Hey there @WineSneak

My understanding is that the Outstanding balance is in fact any Gift Cards that have been sold but not used yet. If you believe this is wrong, I would suggest looking at your Gift Card Sales by year and trying to add them up. If you still believe this is incorrect then, your best would be to reach out to our support team for them to help shine a light on the situation.