Re: [SL] Gift Vouchers

[David J <ja...@in...>]

George
You may care to check this ATO document.
http://www.ato.gov.au/businesses/content.asp?doc=/content/42952.htm
(Sorry I can't hyperlink from this webmail.  Pls cut 'n
paste.)
Perhaps you don't "sell" vouchers, but rather "issue" them.
Perhaps the issue of a voucher should NOT be invoiced at
all.
Invoice only when voucher redeemed.
A voucher is a lot like a promissory note or an IOU, rather
than a sale.
So the outstanding vouchers are like mini-loans from your
customers.
GST only when voucher redeemed for goods/services.
YMMV in accordance with local conditions.
As always, check with your accountant.
- David J


> On Thursday 19 April 2007, la...@cl... wrote:
> > 1. create gift voucher in part.
> > 2. create sales invoice to sell a gift voucher to john
> > smith (money to your bank).
> > 3. create an negative ar transaction (money to your
> > credit note or gift voucher account) for john smith.
> 
> What would you do with taxes here?
> 
> > 4. john smith's account should now reflect that he has a
> credit. >
> > the credit note or gift voucher account should help you
> > track your gift vouchers.
> >
> > would this do it?
> 
> > > Anybody out there selling gift vouchers? If so how do
> > > you do it? How do you
> > > track them?
> > >
> > >
> > > --
> > > George
> > > AUSTRALIA
> > > http://www.okstudio.com.au


> > >
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> 
> -- 
> George
> AUSTRALIA
> http://www.okstudio.com.au
> 
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