The following article contains a suggested workflow for usage of Gift Certificates/Vouchers.
INITIAL ONCE OFF SETUP
- Create non inventory item codes for your vouchers(can be per each value/type or one code for all values/types).
- Create a non inventory item code for your unredeemed/expired vouchers.
- Create a non inventory item code for negating the sale value of the Gift voucher (Its recommended to have a separate code so you can report on how many vouchers were sold during each period)
- Add a new payment method type for vouchers.
- Create a Gift Certificate Tracking Spreadsheet (A very simple example is attached but should be changed to suit your business needs)
Part 1 - Voucher Purchase
- Enter voucher sale
- 1 x VoucherCode - include the reference number for the voucher for matching if required at a later date.
- -1 x VoucherNegateCode (for the same value - the sale total should now = 0)
- Apply payment amount owed for the voucher purchased.
- This will put the sale into credit.
- Process the sale and send to MYOB as normal.
- The customer now has credit on their account
- Write details into your voucher tracking spreadsheet
Part 2 Voucher Redemption
- Enter sale for goods.
- Check spreadsheet for balance of Voucher
- Include the voucher reference number in the sale notes/comments for future use.
- Generally we advise not to apply a payment to the sale and stamp the sale as paid manually, the voucher credit (Part 1) in MYOB should be applied by accounts payable once the sale arrives into MYOB.
- If you prefer to apply the payment in the WMS do so using the "New payment method" created during initial setup. This payment should be removed after printing the transaction for the customer.
- In the case of the sale exceeding the voucher amount the additional payment should be applied to the sale as normal and not deleted.
- Update the Voucher Tracking Spreadsheet.
Part 3 Expired/Cancelled Vouchers
- The MYOB file and spreadsheet will have the details for expiry.
- Once vouchers expire the balance of the vouchers should be invoiced to the voucher code in WMS, do not apply any payment, the voucher credit amount should be applied in MYOB once the sale arrives.
- Spreadsheet should be marked to show the vouchers balance amount and write off date.
This article assumes vouchers are credits on a customers account and are redeemable against sales, Sales amounts are not taxable income until redeemed for goods or vouchers are expired and processed as sales.