Re: [SL] Gift Vouchers

[George O. <geo...@ya...>]

On Friday 20 April 2007, Roy Nicholl wrote:
> I agree that there is no 'sale' until a voucher is redeemed (which,
> from a business standpoint is hopefully never).  However, vouchers,
> coupons, options, etc. are liabilities against the business (this is
> why they usually come with expiration dates) and should be recorded
> as such.

So could they be treated as orders then? When a customer purchases a product 
and redeems a voucher I could make an invoice out of the order. I could also 
use the order number to track them. It would not be too hard to customize the 
order template to print different heading for gift voucher receipts.


> Roy
>
> On 19-Apr-2007, at 00:30, David J wrote:
> > 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
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-- 
George
AUSTRALIA
http://www.okstudio.com.au