I'm really hoping someone can help. We are a small restaurant, VAT registered, and have just ran a Groupon promotion. I'm unsure how I show this in our Sage accounts. We are invoiced once a month from Groupon which show's the value of redeemed vouchers, their commision and VAT. As I understand it, we must pay treat the voucher as cash sales and pay Vat on the full face value of the voucher. We can then reclaim the Vat charged by Groupon. How do I show this in Sage?
The vouchers are sold for £12, face value of £34.95. Groupon take £6 per voucher, £1.20 vat and we receive £4.80.
