How do vouchers show up in reports?

You'll notice in your Financial summary report that Voucher Sales are listed separately from Sales. This is because of the differences in how vouchers and sales are treated under accounting standards.

A voucher vs. a sale

Regular sales are those where your business delivers a service, prepares an invoice, and your client pays for it once the service has been completed. These types of sales are reflected in your Finance summary report.

With vouchers, the opposite occurs. Your client pays for a voucher upfront but the service hasn’t yet been booked or completed. As a business, you are required to perform this service at a later, often unspecified date.

As a form of credit that is owed to your client, vouchers that have yet to be redeemed will be reflected as debt, and not as sales. Once a voucher has been redeemed, it will be classed as revenue and added to your sales report.

Changes in reports when issuing new vouchers

When you sell a voucher, there will be a number of noticeable changes on your financial statements:

  • The full value of the voucher will be reflected under the Payments log and other payment associated reports.
  • As this is classed as credit and can be redeemed at a future date, the value of the voucher will be added to the total Vouchers outstanding balance.
  • Since you cannot yet recognise revenue until the service has been completed, there is no effect on any sales reports.

You will also be able to track newly issued vouchers in the Voucher sales report and your Finances summary report. 

Changes in reports when redeeming a voucher

You can only redeem a voucher once you raise an invoice at checkout. If the voucher covers the full value of the sale:

  • Your voucher sales during this period will remain unchanged.
  • The invoice you generate will increase your sales but the full value of the voucher.
  • Your payments remain unchanged as you did not collect any new cash or credit.

In the Voucher sales report, you'll see a summary of all vouchers issued during this period, and in the Finances summary report, you'll see the voucher redemptions reflected in both Sales and Vouchers. 

PRO TIP: You can track all the vouchers you have issued or redeemed, as well as track their expiry dates by going to Sales and selecting the Vouchers tab. This is also a great place to track voucher codes for redemption.

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