Accounting for gift voucher

South Africa Discussion in 'Technical Queries' started by St. Francis, Feb 16, 2017.

  1. St. Francis

    St. Francis

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    My client runs a hairdressing salon. From time to time she donates a gift voucher (value R250 or sometimes R400) as a prize for local sport events, such as bowls and golf tournaments. The winner then comes into the salon to claim the prize - a "hairdo" to the value of the gift voucher. This is not a cash transaction as no cash changes hands. But my client expends hair dressing materials and her labour in providing the service to the voucher winner. So there is a cost to the proprietor. Can this transaction be brought to account and if so, how?
     
    St. Francis, Feb 16, 2017
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  2. St. Francis

    Fidget VIP Member

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    Treat it as an expense in the profit & loss.
     
    Fidget, Feb 18, 2017
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