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       #Post#: 214--------------------------------------------------
       Gift Vouchers
       By: AngelGST Date: August 1, 2017, 7:54 pm
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       My company wants to sell Gift vouchers for our stock items to
       businesses (includes GST)
       We issue Tax Invoice when we sell the voucher to these companies
       We will pay GST to Govt
       Company will then give to their own customers
       Their customers will redeem the voucher & we ship the items to
       them FOC (Malaysia only)
       When customers redeem do we need to pay GST again
       Double counting of sales & GST
       What is the double entry when customer redeem
       #Post#: 218--------------------------------------------------
       Re: Gift Vouchers
       By: finance2017 Date: August 4, 2017, 2:46 am
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       Exemple:
       Sell Gift voucher value RM1000 inclusive GST is RM1000 x 6 / 106
       = RM56.60, that mean your gift voucher value is RM943.40.
       - Issue Tax Invoice accounting entry
       Dr Cash RM1000
       Cr Voucher RM943.40 (Not consider goods/stock but it revenue
       capture in Other income)
       Cr Output Tax RM56.60
       Customer redeem the gift voucher if same value, issue debit note
       to refer the Tax invoice to proof the delivery goods then issue
       credit note to refer debit note to proof of the redeem voucher.
       Dr Other debtor RM1000.00
       Cr Stock/Sales RM943.40
       Cr Output Tax RM56.60
       Credit note entry to offset against debit note:-
       Dr Voucher RM943.40
       Dr Output Tax RM56.60
       Cr Other debtor RM1000.00
       Please correct me if there is something wrong.
       Cr
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