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We’re excited to announce that the latest information is now available on our new site, the Ginesys One Wiki!. Visit the site for up-to-date resources and insights. We look forward to continuing to support you there!
Managing GV (Gift Vouchers) through Ginesys POS Management
A GV (Gift Voucher) is a promissory note from the retailer that the customer can use to make payments against his purchases. Gift voucher can reach the end customer by multiple channels as below -
Retailer can sell gift vouchers of fixed denominations (e.g. INR 500, 1000, 5000), to customers from stores and/or online portals.
Retailer can give gift vouchers free of cost against purchases to any customer.
Retailer can tie up with marketing agencies to distribute gift vouchers free of cost to promote his retail brand.
Retailer can tie-up with other businesses (like newspapers, radio/television channels) and give gift vouchers as competition rewards to the readers and audiences.
Points to remember
Gift Voucher is a instrument which can be exchanged for purchase of goods/services.
Businesses/Brands issue such instruments for free or at a discounted price to the institutions/clients for promoting their brand.
Many a times organizations also purchase such vouchers from the businesses/brands to gift it to their employees as a token of appreciation.
On receipt of GV’s, the institutions either directly consume such GV’s for purchase of goods or distribute such GV’s to the employees who act as end customers for purchase of goods from stores.
The distributions by brands can be either in the form of GV Booklets or GV leaves depending upon business and use cases.
GST Impact on supply of GV
According to the GST Act, the sale of gift vouchers is not subject to GST since it does not involve supply of goods or services. Instead, it represents an advance payment received by a business, which customers later exchange for the purchase of goods or services at a future date, namely, during redemption.
When a gift voucher expires, the Brand’s Head Office retains the funds linked to that voucher. This is treated as revenue for the company and GST would be levied on such expired/unredeemed vouchers. In Nutshell, if gift vouchers remain unused upon expiration, the company is obligated to remit GST on the funds received for those unredeemed vouchers.
General Characteristics of a Gift Voucher
Contains a unique number/code (Eg: SUCCESS500DEC001, SUCCESS500DEC002 etc...)
Is Valid for a particular span of time (maybe days/months), post which it expires (Eg: Valid from 25th Dec’23 to 31st Dec’23/ Valid Upto15th Jan’24/Valid for 6 months from date of sale etc.)
Comprises monetary denomination (Eg: A GV of Rs. 100 / 500 etc…)
Life Cycle of a GV in Ginesys
Creation: A GV comes into existence upon its creation.
Sale/Issue: After creation, GV’s are issued/sold to the ultimate customers (B2B/ B2C).
Redemption/Expiry: After issue, the GV’s are used by customers for purchase of goods (Redemption); remaining unused Gift Voucher after validity date will expire (Expiry)
Overall Flow of Gift Voucher in Ginesys ERP
In Ginesys ERP, the concept of Gift Vouchers can be categorized as:
Creation of GV: From ERP only
Sale from ERP direct to Institution: From ERP only
Allocation to Store: From ERP only
Sale from POS Store to end customers: From Store only
Redemption by customers at store: From Store only (customer can redeem at any store)
Mapping of GV lifecycle with menus in Ginesys HO and POS
Operation | Menu (Ginesys HO) | |
|---|---|---|
| 1 | Initially, a GV is generated with detailed specifications, including denomination and expiry details either booklet wise or leaves wise. | HO → POS Management → Gift Voucher → Voucher Management → Add HO → POS Management → Gift Voucher → Voucher Management → Vouchers (GV Leaves) |
| 2 | Brand's HO sale such vouchers in bulk to the institutions or other businesses. In this case direct “Voucher Sales” are done from HO. | HO → POS Management → Gift Voucher → Voucher Sale |
| 3 | GV Booklets, whether as a complete set or individual pages, are assigned to stores for direct selling to customers. This allocation is possible for any active and published stores, excluding Zwing POS. | HO → POS Management → Gift Voucher → Voucher Management → Actions → Allocate Vouchers |
Operation | Menu (Ginesys POS) | |
|---|---|---|
| 1 | POS Stores sell the voucher to the end customer directly for any MOP such as Cash/Credit Card/UPI's etc. | POS → Back office → Transactions → GV Issue |
| 2 | Finally, GV redeemed by customers at any POS Store globally. | POS → POS Bill → F8 Payment→ Gift Voucher |
What store does with the redeemed vouchers?
When GV’s are redeemed at franchise stores, the brand's HO is required to reimburse the franchise for the redeemed voucher amount. This is necessary because the HO had initially collected the funds when the voucher was sold to the end customer by the franchise.
HO shall track the redeemed GV’s from the franchise store’s POS Bill transaction entry and it’s MOP ledger in books of HO and pay the redeemed voucher amount to franchise . (Point to Note: No accounting entry is posted for the POS Bill’s of franchise’s, however the transactions are recorded for inventory tracking)
These payments received are reconciled at the franchise’s end from the list of GV’s redeemed at store.
For other POS Stores (MS-OO-CM and MS-CO-CM), there lies no question of maintaining the redeemed GV’s because no amount will be payable to our own stores.
Accounting impact of the GV in Ginesys ERP may be found here - https://ginesys.atlassian.net/wiki/spaces/PUB/pages/4193452274
This article is a collation of all actions that will enable creation and management of Gift Vouchers through GINESYS:
Prerequisites
Document Numbering Scheme for GV must be present.
The proper application operation rights must be available to the user.
Step-by-step guide
The steps are as follows:
Go to GINESYS Web > POS Management > Gift Vouchers > Voucher Management. The Gift Voucher module opens.
Click on Add button.
Go to Gift Voucher Category tab. Enter details like Name (i.e. GV name), Description (i.e. when and why the GVs are to be issued - Festival period, Customers Special Day - any other detail), Prefix, Suffix, etc.
Next go to the Booklets tab.
Click on the Add New Booklet button.
The Booklet window appears. Enter booklet no. and denomination beside the Booklet No. field and the Denomination field respectively.
Click on Save.
If you wish to create more booklets, repeat the above process.
Next click on GV Statistics tab to see statistics Site wise and Documentation wise.
Once done, click on Save & Close button.
Once the Gift Voucher category is created, the gift vouchers leaves have to be generated. This article describes how to generate Gift Vouchers.
Prerequisites
The user must have the right to edit Gift Vouchers.
The Gift Voucher must be present in the Gift Voucher master.
Step-by-step guide
The steps are as follows:
Go to GINESYS Web > POS Management > Gift Vouchers > Voucher Management. The Gift Voucher module opens.
Click on Actions menu button > Vouchers (Ctrl + Alt + V) option.
In the Gift Voucher window, click on the Generate button.
The Gift Voucher Generation window opens up. Fill in the following details by selecting the options as required:
Booklet Information- You may have want to create booklets with GVs of various denominations. For example: For Diwali, you want to create GVs of Rs 500 and Rs 1000. In this case you have to create separate booklets for each denomination.
In this section, you can select the booklet from the list of booklets created during GV category creation.
If you do not want to generate vouchers for that particular booklet, select the Do not include generated vouchers in any booklet option.
If you want to create vouchers for a particular booklet, then select the Include generated vouchers in this booklet option. Select the booklet from the Booklet No. drop down list.Validity Information- Every Gift Voucher has a certain validity, beyond which it is rendered invalid and unacceptable in the system. In this section, you can define the validity of the GVs of that particular booklet.
If you do not want to use validity information for the vouchers, select the Do not use validity information option.
If you want to put validity information on the vouchers, then select the Generated vouchers will be valid for option. Select the number of days you want the vouchers to be valid for in the field provided.Expiry Information- Along with the validity information, a voucher might also have an expiry date. Using this section, you can define the expiry date of the GVs of that particular booklet.
If you do not want to use expiry information for the vouchers, select the Do not expiry information option.
If you want to put expiry information on the vouchers, then select the Generated vouchers expires on option. Select the date you want the vouchers to be valid till from the date picker.Voucher Generation- Using this section, you can decide the number of GVs that would be present in the booklet and the denomination of the GVs.
Enter the number of GV leaves you want in the Leaves to Generate field and the denomination in the Denomination of each voucher field.
Then click on the Generate button.
Go back to the Gift Voucher module and refresh the page. The changes are reflected in the No. of GV column in GV Statistics tab.