How do I deal with Gift Vouchers?

Summary

This article outlines how this is achieved in Platinum for customers in the United Kingdom.

Vouchers can be sold or redeemed with any invoice raised in Platinum. Here we will use Point Of Sale as an example.

Go to " Stock Control Add or Edit Stock Item".

Click [Add] and enter a suitable "Stock Code" e.g. GIFT.
In the "Description" enter 'Gift Voucher'.
Enter a "Standard Selling" price of '£1.00'. Leave the "Std Cost Price" set to zero.

If you sell a £10 voucher, you can sell 10 x £1 vouchers so you know the value of vouchers sold without having to divide the figure at all.

Set the "V.A.T Rate:" to '2 - Zero Rate'. Current VAT legislation (November 2008) in the UK states that you do not have to account for VAT on vouchers that you both issue and redeem. You should check the VAT legislation carefully to ensure that your scheme is operating under the correct rules.
Create a new Sales Centre that links into a new centre on the Balance Sheet.
- If you are unsure what codes to use, consult your Accounts Department.
On the [Invoicing] tab, ensure that "Update Quantity" is set to 'Yes'.
Click [Done] and [Accept].
You now need to do a Stock Movement with a mode of <A> to put a quantity of Gift Vouchers in stock. (This does not affect Stock Valuation as the items are at Zero Cost).

When a Customer comes in and wants to buy a Gift Voucher, go into Point Of Sale.
- Enter the Stock Code for the Gift Voucher.
- Enter the Quantity of vouchers required, e.g. '10' to sell a £10 voucher.
- Complete the sale as usual showing how they have paid for the voucher.

When a Customer comes in to redeem a Gift Voucher, go into Point Of Sale.
- Enter the Stock Code of the Gift Voucher.
- Enter a Negative Quantity to the amount of the Vouchers being redeemed, e.g. to redeem a £10 voucher you would enter a quantity of '-10'.
- Enter the items the Customer is purchasing as usual.
- Complete the sale in the normal way. The system will reduce the balance owing by the amount of the Gift Vouchers entered.