| I-Clarity Version: Enterprise - View the i-Clarity version of this article | Views: 40 |
- When you first sell the Gift Voucher, you will not normally know what it is going to be used for so you cannot really assess the VAT liability. That is why the system requires you to assign any Gift Vouchers to the 'Other' category.
- The value of the Gift Voucher is however, added to that day's sales, and of course the money paid will form part of the day's takings and be included in the Cashing Up.
- When part or all of that Gift Voucher is redeemed, then a sale is made in the normal way, added to that day's sales and VAT accounted for on the sale in the normal way.
- However, to avoid double counting sales, (i.e. once when you sold the Gift Voucher in the first place and then again when the voucher was redeemed), i-Clarity creates an additional reverse transaction to the value of the amount of the voucher being used. This is entirely paid off by the payment method 'Gift Voucher', and is usually hidden. However, you can reveal it for audit purposes by pressing this button on the patient's Sale form:
- The value of the unredeemed Gift Vouchers are a liability on your balance sheet, (i.e. you have taken money for goods or services that you have yet to provide), you can assess this by running the Gift Vouchers report.