Gift cards are a concept that has been in use for many years, first appearing as employer-provided scrip that employees could use to acquire goods in the company store. Card recipients may not use them for months, so the initial "sale" of the card only results in the recordation of a liability, which is eventually transformed into a sale when the card is used by the recipient. Though it is not an accounting transaction, one should also be aware of the delay in recognizing sales caused by gift cards. When this happens, the issuing entity should reimburse the defrauded customers, which should be tracked by the accounting staff. Consequently, there must be a system for tracking unused gift cards, which trigger a remittance once the statutory dormancy period has been exceeded.Ī thief could obtain access to the identification codes for individual gift cards that are on display in retail stores, wait for someone to buy the cards, and then use the codes to buy goods. This requirement is stated under local escheatment laws that cover unclaimed property. When a gift card is not used, the funds must be remitted to the applicable state government the company cannot retain the cash. If there is a reasonable expectation that a certain proportion of gift cards will not be used, this amount can be recognized as revenue. When a gift card is used, the initial liability is shifted into a sale transaction. This is a debit to cash and a credit to the gift cards outstanding account. The initial sale of a gift card triggers the recordation of a liability, not a sale. There are varying treatments for the residual balances in these cards, as noted below.
In fact, it doesn’t cost as much as the above, as you can earn points by logging in every day, etc.The essential accounting for gift cards is for the issuer to initially record them as a liability, and then as sales after the card holders use the related funds. The following is the approximate cost (accumulated) for a $4.99 pack (1,000 VIP points) only. FYI: How much does it cost to raise the VIP level through billing only? Therefore, it may not be difficult to get to VIP 9 without paying for it after VIP 10, it will take quite a bit of time not to pay for it. FYI: VIP points required for VIP level up Increase your VIP level and get various benefits such as more marching slots and construction speed.
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Please note that you can’t benefit from just raising your VIP level, you need to use VIP time items, see this article on how to get VIP time.Īnd for a list of the benefits you can get, see the following article. IMPORTANT – You won’t get the benefit of just increasing your VIP level. 15,000% Super Value Activity Package $4.99 – 1,000 VIP Points.Related : Server Gifts on Wall – Item List Purchase the package (The server gift will be updated every hour.) Server Gifts on the WallsĪt 17:00 server time, you will get 100 VIP points. An active player can accumulate about 10,000-15,000 points in a day. Note that Alliance Points can be accumulated through Alliance Science and monster hunting. However, you should buy Tributes in the Alliance Shop rather than VIP Points, so it is not recommended unless it is very urgent. > 640 VIP Points (when you are VIP level 15) Alliance Shopġ00 VIP Points can be bought for 15,000 Alliance Points. > 630 VIP Points (when you are VIP level 14) > 610 VIP Points (when you are VIP level 12) > 600 VIP Points (when you are VIP level 11) The more consecutive days you log in, the more VIP Points you can earn each day. The most efficient way to do this, except for billing. There are several ways to earn VIP Points. (You can see your current VIP Points by tapping the VIP level below the face symbol in the upper left corner of the screen. To increase your VIP Level, you need to accumulate VIP Points.
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