VAT gift cards

Gift cards, a nice gift! But how should these be processed correctly in terms of VAT?

πŸ‘‰ With a single voucher it is clear in advance how much VAT will be due. There is 21% VAT on all products and services, so it is also known at the time of issue how much VAT is due. In this case, VAT is due at the time the gift card is sold. You can easily set this:

1. Settings
2. Register
3. General
4. Uncheck box 'Giftcards are calculated in day receipts on usage.'
5. Press save

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πŸ‘‰ With a multiple voucher it is only at the effective exchange clear what it is used for and how much VAT is due. For example, you have products at 6% and services at 21%. Only when the gift card is redeemed will it be clear what it is used for and what VAT rate applies. It is therefore only when the gift card is used that VAT becomes chargeable.

1. Settings
2. Register
3. General
4. Check box 'Giftcards are are calculated in day receipts on usage.'
5. Press save

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In this case, your gift cards will NOT be included in your daily total. You will, however, see them appear in your daily receipts report, but there is an asterisk attached to it, which means that the figure is purely informational.

As soon as the gift card is collected, the system will look at the VAT percentages that you have entered for the products and services. After the checkout, it will then be correct with the daily receipts.

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