Sale against third partys gift coupan

This query is : Resolved

ardhendu (Querist)
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14 October 2012 Dear Sir/Madam

Please let me know the accounting treatment if:

Product sale to the customer against different mode of payment ie cash & gift coupon issued by the third party like TATA STEEL CO.& that coupon will redeem by the co later

Example: xyx sold to customer 50000.00
against received cash 40000.00
* gift coupon 10000.00

-how seller pass entry in tally.erp9
-will pass journal entry or issued debit note to issuer of gift coupan

* Redeem by the issued company to seller on later date

CA Kishore Tallam

CA Kishore Tallam (Expert)
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15 October 2012 Related Entries can be:
Cash A/c Dr 40,000
Gift Coupons A/c Dr 10,000
To Sales A/c
(For Sales made)
When this gift coupons are redeemed:
Cash A/c Dr 9,400
Finance cost A/c Dr 600
To Gift Coupons A/c 10,000
(For redemption of gift coupons)
Gift coupons on hand on the closing date will be shown as a cash equivalent.

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