This article explains how to sell and redeem vouchers that the business has issued, ie this article is not about selling/redeeming vouchers/gift cards purchased from a third party



Orion needs to be on at least version 4016, release 240509


TABLE OF CONTENTS



Basic principles


In basic terms a voucher issued by the business represents the value of unidentified parts which have not yet been sold - and you will not know which parts have been sold until the voucher is redeemed.


This means that unredeemed vouchers will have a negative cost in your stock valuation - because, in effect, the negative value for the voucher is a prepayment which offsets the value of actual parts in the stock valuation. 


When a customer redeems a voucher it will display in the Voucher section of Banking - and needs to be "banked" which returns the voucher to stock and reduces the balance of unredeemed vouchers and thus the negative cost in the stock valuation.


Re GST and vouchers - in Orion the GST is accounted for on the parts invoice against which the voucher is redeemed - see https://www.ird.govt.nz/gst/charging-gst/special-supplies "tokens, stamps and vouchers with a fixed value"


Please read this article to the end so that you understand the process - and if you have any queries please ask before proceeding!
If you query relates to vouchers and GST please contact your accountant/financial advisor



Set up voucher


Decide on what multiple of voucher you want to issue, eg multiples of $10, $20 or $50 for example.  Whichever value you decide on you can only sell multiples of that amount, ie if you choose $10 you can sell a quantity of 3 for $30 voucher whereas if you decide on $20 value you could sell a $20 voucher or a quantity of 3 for a $60 voucher etc


The part needs to be set up with the same cost and price and tagged as zero rated GST, eg to set up a $10 voucher:


For reporting purposes we suggest you have vouchers in their own Stock Analysis Group


Set up the Payment Type


The Payment Type is linked to the part you have just set up and allows the voucher to be "banked" after it has been redeemed.


To set up a Payment Type please go to Accounts > Maintenance > System Setup > Payment Types


The Payment Type must have the same keycode as the Part. 

Type should be VCH then select the new part number in the Add Into field:


Sell vouchers


Insert the vouchers in a Parts Invoice - the quantity will be a multiple of the value of the voucher you have set up, eg the voucher is $10 and you are selling $80 so the quantity is 8:


Invoice out the voucher purchase and process the customer's payment, eg cash/EFTPOS


The Stock Listing and Stock Valuation will show the voucher "on hand" as negative - because the voucher represents/offsets unidentified parts which the person who holds the voucher has already paid for:


Redeem a voucher


Process the parts invoice as usual.

When processing the receipt select the Voucher Payment Type with the amount of the voucher the customer is redeeming. 


EXAMPLE 1:

 Invoice total is $138 and the customer is redeeming a $40 voucher as part payment and EFTPOS for the balance



Click OK to accept the voucher amount then select EFTPOS:

then OK


EXAMPLE 2:

Parts Invoice is less than the amount of the voucher, eg invoice is $16.10 and customer pays with $20 voucher


You will need to give the customer change - other option, if your business does not want to give change, is that the customer uses $10 of the voucher and pays the balance by another payment type



Reconcile the vouchers, ie "banking"


This process acknowledges that the voucher has been redeemed and updates the voucher stock on hand


In the Accounts module go to Banking and choose Vouchers:



Check the transactions - this screenshot includes the $40 voucher redeemed in Example 1 above and the $20 voucher redeemed in Example 2


Tag the relevant transactions, check your Banking Date then click Record Banking:


Recording the voucher banking will remove the tagged transactions from the Banking screen and add them back to the linked voucher part in the stock listing.


This means that the voucher on hand figure is updated and represents vouchers which have not yet been redeemed and banked.


For this example - the Stock Transaction Listing shows that $80 vouchers have been sold and $60 of vouchers have been redeemed/banked.  



The On Hand balance of -2 means there are $20 of vouchers which have not yet been redeemed/banked:






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