There are 2 ways in which the Gift Cards and eWallets sales and their subsequent redeeming can be handled.

1.     Recognizing the sale when the Gift Card or eWallet is sold.

When a gift card or eWallet is sold, it will debit the sale and upon redeeming the eWallet or Gift Card it will then reduce the sale value by crediting it.

2.     Recognizing the sale when the Gift Card or eWallet is redeemed.

When an eWallet or a Gift Card is sold, it corresponds to a prepaid sales as in sales of a value which is allocated to be redeemed in the future, This value will have to hit a liability account rather than a sales account and when the value of the eWallet or the Gift card is redeemed the value should be redeemed from this liability account.

Configuration

To start selling and configuring Gift Cards and eWallets with the liability accounts, the Discount, Loyalty & Gift Card option should be enabled from the Sales Settings.

Once enabled a default Gift Card and Top-up eWallet products will be added.

By default, these Products will not have an income account associated with them.

Given that the income account is empty, the sale of gift card or eWallet will default to the Account on the Product Category which will be the sales account.

However, These Products do not dictate the Account that will be used when redeeming the Gift Card or eWallet. That is set on the income account field of the discount Product on the Gift Card or eWallet.

To view these products, you will have to be in developer mode. To activate developer mode, Select General Settings scroll all the way down and activate the developer mode.

Select Sales -> Gift cards & eWallet, Select the Gift cards or eWallet programs.

The Gift Card and eWallet Discount Products can be accessed by selecting the products.

Top recognize the sale when the Gift Card or eWallet is sold.

If the Sales is supposed to be recognized upon the sales of Gift Card and eWallet and not when it is redeemed, the sales account is to be set as the income account on Gift card and Top-up eWallet products on the products and on the Discount Product on the program.

Out of the box If no configurations are made, Odoo recognizes the sale of when the Gift Card is initially sold, as in when a gift card is sold, or redeemed it will debit and credit the the sales accounts as Odoo defaults to the Account set on the Product Category when the Account on the product is left blank.

Below is an example of the Journal entries

Journal Entry on sale of Gift Card or eWallet of 100$

Credit – Sales                                      100

Debit – Account Receivable               100

Journal Entry on Redeeming the Gift Card or eWallet for a product worth 500$

Credit – Sales                                      500

Debit – Sales                                       100

Debit – Account Receivable               400

To recognize the sale when the Gift Card or eWallet is redeemed.

Create an eWallet or Gift Card Account which is of the type Current Liabilities.

Set the Liability account as the income account, thereby when the product is sold, a journal line item will be made to debit the liability account.

The liability accounts also need to be set as the Income Account on the Gift Card and the eWallet product in the programs, This allows the accounts to be used when redeeming the Gift Card and eWallets.

Below is an example of the Journal entries

Journal Entry on sale of Gift Card or eWallet of 100$

Credit – Gift Card/eWallet                 100

Debit – Account Receivable               100

Journal Entry on Redeeming the Gift Card or eWallet for a product worth 500$

Credit – Sales                                      500

Debit – Gift Card/eWallet                  100

Debit – Account Receivable               400

Note: The income accounts of the Gift Card and eWallet products need to be set on every one of the Gift Card or eWallet program.