Paper Vouchers

i am a newsagent and are hoping that someone can help me with putting paper vouchers on my accounts as i am struggling with processing them so it incorporate both the sales and the purchase side of the entry
many thanks

What exactly are these vouchers, and how do they work? Are you talking about gift type vouchers you sell yourself for some price and people can later redeem for the same amount, or are they vouchers issued by someone else that customers redeem with you for a particular product? And if the latter, do you get additional money from the supplier over and above the cost to you of the products for which the voucher was redeemed?

If your refering to people purchasing items with vouchers they have cut out of something then its simply a case of.

Cr sales
Dr promotional vouchers (might need to create that nominal)
Essentially you would net the sale off against the voucher.

I guess there will be times when a customer for example buys £30 worth of items and has a voucher for £2. In these cases you record the sales invoice for £30 in the usual way.

Create a promotional voucher nominal under expenses in the chart of accounts.

Create a new bank account and call it vouchers

Add a money in transaction for £2 to the new account, tag it to the sale (your actual bank will have a transaction for £28 which is also tagged to the same sale) then create a money out transaction for £2 and tag it, select something else not in this list. Then pick the promotional voucher nominal

I assume that these are the vouchers that newspapers or .subscription services send subscribers to be exchanged for papers at a newsagent.

Conceptually these are really no different to handling cheque or card transactions but the the best option for you will depend on how they are handled at the point of sale.

Do the sales go through the till at face value?
Are you reimbursed at face value or at a discount?
Are you reimbursed in cash or is it a credit against your wholesale bill?

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