I’m almost finished with Groupon articles! I’ve got two more, then, I think we’re done. I’ve been writing these articles, because there is a lot of confusion surrounding the accounting for Groupon certificates and how to enter them in QuickBooks. The resources for learning about these areas are poor (and often contradictory), but that’s nothing compared with the confusing, and often downright incorrect, information that has been written about the tax implications of using Groupon! I hope these articles will help accountants, bookkeepers and restaurant owners set up their books and account for these transactions properly.
Today’s article explains how to account for a restaurant’s Groupon transactions in QuickBooks. Previous articles have covered the POS system set up for Groupon transactions, accounting for Groupon transactions (in general), and the very important tax implications of using Groupon in a restaurant.