Nominal Postings when using Gift Vouchers
For those clients having the Gift Voucher functionality enabled, it is important to set up the gift voucher stock item and nominal code correctly before using them, see How To: Create Gift Vouchers.
Scenario:
- A sales nominal called voucher sales has been set up, see How To: Setup Gift Vouchers, with:
- System Type: Sale.
- Account Type: Stock Item.
Note: the voucher code used in the example may vary from system to system depending upon how the VOUCHER stock item is configured.
- A Voucher Bank Account has been set up , see How To: Setup Gift Vouchers.
- A stock item called VOUCHER has been set up and linked to the sales nominal called voucher sales.
Nominal involved in Selling a Voucher
The Debtors and the VOUCHER nominal specified against your Stock Item Code VOUCHER will be hit, ££ is the value of the voucher sold:
| Nominal | Debit | Credit |
|---|---|---|
| 0101 Debtors | ££ | 0 |
| 1210 Voucher Sales | 0 | ££ |
Notes:
- There will also be postings relating to the payment method used by the customer to pay for the voucher, but these would be specific to the method chosen.
- If you have the Post Header Totals option enabled in
[ System Operations | Edit System Values | Options | Accounts ]the above will be changed and all postings will go to a generic Sales nominal, including those intended for Vouchers. Changing this value does not apply retrospectively, but future postings would be affected. If this was enabled then when a Sales Order containing a voucher sale was issued, the postings would look like this instead:
| Nominal | Debit | Credit |
|---|---|---|
| 0101 Debtors | ££ | 0 |
| 4000 Sales | 0 | ££ |
Nominal involved in Redeeming a Voucher
The following journalling will take place when redeeming a Gift Voucher, this example assumes the order value is the same as the voucher being redeemed and the item sold was not taxable. The Invoice will post as a normal sales order would (Debtors and Sales) and then the Voucher payment used on the order will hit the bank account as specified in [ System Data | Accounts | System Payment Types ].
| Nominal | Debit | Credit | Where from |
|---|---|---|---|
| 0101 Debtors | ££ | 0 | the Invoice |
| 4000 Sales | 0 | ££ | the Invoice |
| 0101 Debtors | 0 | ££ | the Voucher Payment |
| 205 Voucher Bank Account | ££ | 0 | the Voucher Payment |
A further journal is also generated but not linked to these documents which reverses the original issue of the Voucher when it was sold:
| Nominal | Debit | Credit |
|---|---|---|
| 205 Voucher Bank Account | 0 | ££ |
| 1210 Voucher Sales | ££ | 0 |
This should mean that if you have sold £10 of vouchers, but they have all been redeemed, your Voucher Sales nominal and Voucher Bank account will both have a £0 balance.