Feature
A gift card sale is not revenue yet.
It's a liability: you've received payment but haven't delivered the goods. The two must be kept separate in the accounts, and most gift card systems leave it to you to sort them out. Kuvert keeps them apart all the way — from sale, through redemption, to cards that never get used.
How it works
Three steps
- 01
The sale becomes a liability
When the card is sold, you receive the money, but you still owe the goods. The amount sits as an outstanding liability — not as revenue — and you can always see what the total liability is right now.
- 02
Redemption becomes revenue
When the card is used, you deliver the service, and the redeemed amount moves to revenue. For partial redemption, only the amount drawn moves; the rest remains a liability.
- 03
You get the figures, your accountant reconciles them
Monthly summary, daily sales lists and a settlement that balances to the penny. The export is semicolon-separated with comma as decimal, so Excel opens it as-is with Danish formatting.
The books
The books
As at 15 January 2026
| Card | Issued | Redeemed | Liability | Income |
|---|---|---|---|---|
| Untouched cardValid until 10 May 2027 | DKK 500.00 | — | DKK 500.00 | — |
| Partly usedValid until 19 February 2027 | DKK 500.00 | DKK 240.00 | DKK 260.00 | — |
| Expired cardValid until 26 December 2025 | DKK 300.00 | — | DKK 300.00 | — |
| Total | DKK 1,300.00 | DKK 240.00 | DKK 1,060.00 | DKK 0.00 |
Three cards on the shelf, and the same money in two columns. Move the date, and see when an expired card finally becomes income.
When are you looking at the books?
Three cards have been sold, and one of them is partly used. Only the amount drawn is revenue; the rest you still owe.
The settlement
DKK 1,300.00 issued − DKK 240.00 redeemed − DKK 0.00 expired = DKK 1,060.00 in liability.
It adds up — and it cannot do otherwise.
A card's balance IS issued minus redeemed, so the two sides are the same sum written twice. An expired card becomes income only once a further 12 months have passed — until then the customer can still demand the remainder in cash.
Details
What to know
- The settlement balances — it has to
- Issued value plus adjustments minus redeemed minus expired equals the liability that remains. It's not four figures we add and hope for; the balance on a card IS issued minus redeemed, so the sum balances itself.
- Periods follow the Danish calendar
- A month runs from midnight to midnight in Denmark's time zone, not UTC. The difference is one hour at each end of each month — and that's exactly where a sale on 31 December evening lands. Otherwise revenue shifts between two VAT periods with no one noticing.
- An expired card doesn't become revenue on expiry
- The customer may still have a right to a cash payout of the remaining balance in the following period. Only once both the validity and that deadline have passed does the remaining balance count as revenue. Until then it sits as a liability — even if the card has expired.
- Cards you issue yourself are kept separate
- Sold at the till, issued against invoice and free are three different things in the accounts, and you choose the type when you issue the card. A bonus in a campaign isn't the same as a complimentary card, and they shouldn't end up in the same column.
- You get a proper invoice for our fee
- Our 2 % + VAT is deducted automatically through Stripe, and an automatic debit leaves no documentation by itself. So we issue an invoice each month with everything the VAT regulations require — and its amount is exactly what Stripe took in the period, so it can be reconciled directly against your account.
- And a credit note if an order is refunded later
- An invoice is never rewritten. If an order is refunded after the month is invoiced, Stripe also returns our fee — so we issue a credit note that references the invoice and has its own number in the same sequence. The two add up to what was actually taken.
- Staff don't see the figures
- The «staff» role can redeem cards and check in tickets, but not see revenue, liabilities or invoices. The accountant can see the accounting figures without being able to change prices.
Questions
Frequently asked questions
When does a gift card become revenue?
When it's redeemed. Until then it's a liability: you've received payment for a service you haven't yet delivered. For partial redemption, only the amount drawn moves, and the remaining balance stays as a liability.
What about cards that never get used?
They sit as a liability until both the validity and the following deadline for cash payout of the remaining balance have passed. Only then can the remaining balance be recorded as revenue. Kuvert calculates it for you and never records a card as revenue on the day it expires.
Can I get the figures into my accounting software?
You can download a monthly export as CSV in the format Excel opens directly with Danish formatting — semicolon as separator, comma as decimal. There's no direct integration to e-conomic, Dinero or Billy yet; the export and the monthly invoice are what your accountant works from.
Do I get an invoice for Kuvert's fee?
Yes, one each month, automatically, under Invoices in the dashboard. It contains everything the VAT regulations § 58 require, and the VAT on it is purchase VAT you can reclaim. The amount is exactly what Stripe took in the period.
What if my business isn't Danish?
Then the VAT follows you, not us. If you're an EU business outside Denmark, the transaction is subject to reverse charge: we don't levy VAT, it's stated on the invoice, and you settle it yourself. If your business is outside the EU, the transaction isn't subject to VAT in Denmark. For reverse charge we need your VAT number.
Can my accountant have access without being able to change anything?
Yes. The «accountant» role gives read access to orders, redemptions, accounting figures and invoices, but not to change prices, issue cards or touch the shop.
Most used by
Other features
- Gift cardsAn amount, a greeting and a code
- Punch cardTen punches on one card, not an amount
- TicketsA date, a table, a ceiling
- Table bookingFrom 0 kr.: tables, times and guest book
- CampaignsA bonus percentage over a fixed period
- On your websiteThe purchase opens in an overlay on your site
- MobilePayMobilePay alongside the cards
- Scheduled deliveryThe card is sent on the chosen day
- Redemption and scannerScan the code, or enter it
- All features
Try it on your own site.
Create a shop, connect Stripe and add your products. You pay only when you sell.