Selling/redeeming gift cards

[tcn813]

I have recently set up through my credit card vendor to sell plastic gift cards (like all the chain retail stores do) instead of paper gift certificates. I can figure out how to make a generic code to sell them but I'm not sure how to use them as a form of payment. The closest choice would be cash but I'm concerned that there won't be anything in the drawer at night to count up so we won't balance. If they haven't used the full value of the card, they keep it to use at another time. Any suggestions? Thanks, Tammy

_________________
[ This Message was edited by: tcn813 on 2003-02-19 14:06 ]

[Andy]

Tammy, are they the type of "Card" that you actually process thru your Credit Card machine and you get a summary at the end of the day the same as Visa, MC, AMex etc. If yes, then you would use your generic code to sell them as you said, maybe with a separate Department to track the total Sales Value (your liability in your ledger). Then in the End Sale process, you may be best to code it as Credit Card if they are part of your end of day summary from your Credit Card processor. Saw these in Flint back in December ... REALLY nice and easy to handle.

If different, advise and we shall think more ...

[LINDSEYR]

Andy
I also switched to Gift Cards and everything is done thru my credit card machine. The main problem I see is the tracking of Revenue over Nonrevenue. Is there a wat to edit the payment options to include the redemption of a Gift Card? When someone purchases item that cost $100 and has value on gift card of $50 and wishes to charge remaining $50 on Credit card. There is no way to do a Split payment to include Todays revenue of $50(credit card) and gift card non revenue.

Thank You
Lindsey

[Andy]

Lindsey ... the Payment Methods are fixed and can not be modified in Helios. I have request this for a LOONNNGGGG time, but no response by Helios.

Most of my Helios User clients that are involved with Gift Cards include them as Credit Card since the end of day report from your Credit Card provider will also include the Gift Card data.

Think of them as just another Credit Card company ... VISA, MC, AMex, Gift Card. In your example about it would be Totally Credit Card.

The sale of your Gift Cards could/should be in a separate "Department" in Helios allowing your Bookkeeper to place that value in a Liability account in your books. This liability would be reduced for each redemption. I believe you can also (or it is available) in your end of day reporting on Gift Cards to get a Total value outstanding, this can be balance against the net value in the Liablilty account.

I do have a couple of clients using Gift Cards that do not accept Client Checks ... these clients have both decided to process the Gift Cards as Checks.

NOW, one other consideration ... if you DO NOT also sell instore Gift Certificates, you could use the Gift Certificate, Method of Payment. You can TURN OFF tracking of Gift Certificates in System Setting (V9: View, Preferences, System, First Tab, Track Gift Certificates) (V10: Settings, System, First Tab, Track Gift Certificates). This method is most likely logical BUT ONLY if you are not also selling InStore Gift Certificates.

Hope this helps ...


_________________

Andy Thompson
ACT Business Solutions
Toll-Free 877-777-6717
andy@atso.ca
ACT Help Center [ This Message was edited by: Andy @ ATSO.ca on 2003-02-27 07:00 ]