tanTALK - View Single Post

JIMJEN · 01-20-2007, 11:30 AM

Quote:

Originally Posted by capetan

Shantilly.... let's say someone buys a $100 GC with cash. You will show the cash the day they purchase it. Then, when they redeem the GC it shows up on your sales report as GC redeemed, but you do not count that as that would be double. When you close out or "z" out, your receipt totals will be the correct amount......make sense? Of course, if you have eft's that will not show on the "z" report.

I am not sure about a "z" report but in the land of accountants - money rec'd for a gift cert does not become money in your "bank account" until it is redeemed.

(I know what a "z" is but not in TT)

So TT is set up to show it is a sale but not as income until it is redeemed - get it? kind of? (not being a smart ***)

So, for this reason we do GC's differently than running them through TT. I do know of other places that keep in a separate envelope money when they sell a GC and transfer it to the drawer when redeemed.

Too complicated for me - we have another equally complicated system but at least I can deposit stuff at the time it is paid for.