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Angela
I have not had third party confirmation that what I do with Groupon entries is correct, but my logic is as follows:
I have set up accounts in the Customer Ledger for Groupon Sales and in the Supplier Ledger for Groupon charges.
When a Groupon voucher is redeemed I apply the full amount to the Customer Ledger and account for sales vat then i.e. for a £100 voucher for instance:
Debit Customer Ledger (Groupon Sales)/Debtor Control £100
Credit sales £83.33 and Sales VAT £16.67
When the Groupon receipt is received into the bank account I apply this to the Customer Ledger/Debtor Control i.e. Sale less commission 15% and vat = £82.
This leaves £18 on the Customer Ledger/Debtor Control
When the Groupon invoice is received for £15 + vat i.e. £18 I apply this to the Supplier Ledger/Creditor Control with £15 debited to Commission Paid and £3 to Purchase Vat.
I then set off the Supplier Ledger/Creditor Control against the Customer Ledger/Debtor Control clearing both.
I have not yet had to work out what to do about unredeemed vouchers
Lynn
Edited at 03 Oct 2014 08:21 AM GMT
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