Promotion with Third Party Cash Voucher / Coupon

RM100 vouchers are sent to Bank XYZ's card members. 
The cost of each voucher to Chainstore ABC is RM90 because Bank XYZ will pay 
Chainstore ABC RM90 for each voucher. 

The challenge:

1. How to record vouchers that has been expired or not redeemed? 
2. How to ensure easy data entry for front end staff, and yet able to keep track of all transactions accurately and timely for various real time reporting. 
3. How to keep track of all vouchers redeemed from customers, and claim from the bank? 
4. When issuing cashsale to the customers, how do we ensure the total cash  collected plus vouchers received could be recorded easily thru a friendly user interface at the Point of Sales? 
5. How to automate the vouchers redemption to link with the accounting module directly to minimize duplication of work? At the sametime, be able to trace the cash reports effectively... to ensure every branch/outlet bank in the correct  amount of cash (cash control)? 
6. How to reconcile the accounts with the bank? 
7. How to effectively still keep track of the profitability for each cashsale/invoice? 
8. How to keep track of the vouchers 
9. .... and many more..... 

Suggested Configurations:

1. Create a cashbook called CASHBOOK-VOUCHER-BANK-XYZ. Define the glcode for this cashbook as "voucherPromotionExpensesXYZ".
   1. All redeemed cash voucher will go into this cashbook, hence merchant is 
   2. able to keep track of how many vouchers has been redeemed, and perform "reconciliation"/"checking" using the Bank Recon feature. 
2. Goto Developer -> Branch Listing -> Edit each of the branch there to configure the default cashbook for "Other/Voucher" to point to the cashbook in 
   1. by doing this, it makes it easier for front end point of sales staff to operate the software because they don't need to select the cashbooks. 
3. Create a customer called BANK XYZ 
   1. Since the bank XYZ will buy vouchers with face value RM100 at RM90 from ABC, and since we treat each voucher like an inventory, we are essentially selling the voucher to BANK XYZ. 
4. Create a supplier called VOUCHER SUPPLIER 
   1. This is a virtual supplier 
5. Create an inventory item code called VOUCHER-XYZ. 
   1. Since we treat each voucher as a stock. 

Transactions and flow analysis: 

1. BUYING VOUCHERS FROM VIRTUAL SUPPLIERS 
   1. A goods received note is created to receive stock VOUCHER-XYZ from VOUCHER SUPPLIER 
   2. The Unit cost (purchase price) of each voucher is set to RM100 
2. SELLING VOUCHERS TO THE BANK OR OTHER PARTIES 
   1. When selling these voucher, the selling price is RM90 per voucher. 
   2. This means by prudent concept, the loss is recognize immediately for selling the voucher at DISCOUNT! 
   3. When the THE BANK XYZ or OTHER PARITIES  pay, settlement is done, and cashbook etc are updated accurately 
   4. AR is also reflected accurately to reflect amount due by BANK or OTHER PARTIES. 
3. REDEEMING VOUCHER
   1. When a customer buy products/services worth RM2500, they bring along a voucher for redemption. 
   2. Cashier will key in the usual selling price of the products 
   3. Cashier will key in RM1000 cash (assuming customer pay partially with cash and card), RM1400 credit card, RM50 voucher/other 
   4. As easy as that!
4. SALES REPORT / CASH REPORTS 
   1. Since our systems separate the voucher from the normal cash from vouchers into different cashbooks. All bank-in, cash management becomes so easy and transparent. 
   2. Daily, Monthly reports on total voucher redemtion could be easily generated using the following links MANAGER->SALES RELATED REPORT->DAILY RECEIPT SUMMARY or CUSTOMER -> OFFICIAL RECEIPT LISTING 
5. RECONCILIATION OF VOUCHERS 
   1. Since voucher collected need to be checked, the bank office could use FINANCE->BANK RECONCILIATION to cross check the vouchers. Use the CASHBOOK-VOUCHER-BANK-XYZ cashbook. 
6. SETTLING outstanding due to virtual VOUCHER-SUPPLIER 
   1. Create a payment voucher to pay VOUCHER-SUPPLIER using the CASHBOOK-VOUCHER-BANK-XYZ cashbook. Use all the balance in the cashbook to pay the supplier. Back office could do this on a weekly basis or on a monthly basis. 
7. UPON EXPIRY of the VOUCHERS 
   1. Since not all vouchers are redeemed, 
   2. The vouchers that were not sold, and remain in the inventory would be returned to this virtual VOUCHER-SUPPLIER, and knock off the GRN/SupplierInvoice 
   3. accountants would be creating a Debit Note to this supplier by crediting the "Vouchers Not Redeemed" or other General Ledger to recognize it as a gain/profit to the company.