Coupon Function

Overview

• In EMP, coupon functions exactly like a normal Serialized Item Code, you can Receive coupon into EMP via GRN and Issue (Sale) a coupon. In addition, you can Redeem coupon as a Method of Payment (MOP) to offset an invoice.
• Unlike normal item code, coupon can expire once issued, if expiration date elapsed, customer would not be able to redeem it anymore.
• There are 3 different prices of the coupon which are independent from each other;
  • Face Value → this is the amount used as a Method of Payment (MOP) to pay (or Redeem) for an invoice. This price should NOT be modified once issuance of the coupon started
  • Selling Price → this is how much money you charge to customer if you sell the coupon as an item
  • Cost Price → this is the cost price of the coupon when you perform GRN to receive the coupon into EMP

System Flow

Step 1: Setup configuration Coupon function in the EMP system → refer to Setting / Configuration

Step 2: Add Item → choose Coupon Type and fill up the VALUE

Step 3: Create Direct Receiving Stock → to stock in the Coupon 

• Select the coupon item code, item prices and key in the serial number 

Step 4: Create Full Screen Cash Sale or Create Invoice → to issue out the coupon (Coupon Sales to Customer)

• This when there is Sales Involve when give the coupon to customer
• Example: The Value of Coupon is RM 5,000 and the Coupon is being sale to customer for RM 3,000
• Journal would be: 2. Create Journal
  Dr. AccRec 3,000
  Cr.  Sales 3,000

Step 5: Create Journal Transaction → to Transfer Sales to Liability (as Coupon is not an sales but liability)

Step 6: Customer perform Redemption of Coupon under Full Screen Cash Sale

• Select Payment "other"

• RCT Journal:

Dr Coupon Expenses 10,000
Cr accRec 10,000

Step 7: Create Payment Voucher→ to consolidate

• Add the GL Code → coupon issue
• PV Journal:

Dr Coupon Issue 3,000
Cr Coupon Expenses 3,000

NOTES:

• Profit and Loss will be updated for the Coupon Expenses → RM5,000 (coupon value) - RM 3,000 (Sales to customer)
• Please take note that user can receive coupon into EMP at ANY Cost Price, Issue (or Sale) coupon with ANY Selling Price, and Redeem with ANY Face Value
• Refer to the double entry on the coupon under Full Life Cycle of Accounting Treatment for Coupon