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Keep store credit purchases separate from the net and gross sales financial reports!

I don't even know why store credit would be seen as a source of income?! This should remain separate from any real money coming in. It's a good feature to track but it's NOT income!

  • Guest
  • Sep 21 2017
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  • Guest commented
    January 05, 2019 17:52

    after speaking with our state tax department we were informed that (in ohio) we need separate prize credit tracking.  tradeins are given virtual cash in form of store credit and that credit is taxed when used.  prize credit is not a sale and not taxable as we're just discounting merchandise to give it away when it is used.  So really there needs to be two forms of credit.  One would be for non taxable use and one for taxable.  Store credit IS income IF it was in exchange for goods because you bought it from the customer the same as if you gave them cash for it.  When they use that credit it is the same as if they handed you cash.  That's how the government declares it.  Prize credit is a different creature and we track that externally now and apply use to the blue discount section in the checkout labelling it as prize credit so if audited we can show it was us giving merchandise away.  This also keeps it from showing on your sales as revenue.

  • Sean Johnson commented
    September 29, 2017 19:53

    I personally wouldn't want this changed, it's important to see all forms of income and it takes only a few seconds to add the monthly SC awarded and SC spent to my accounting.

  • Guest commented
    September 25, 2017 00:29

    Maybe a switch to change how it applies?  We should be able to determine how we use it, thus removing crystal commerce from being legally responsible for how it is applied or possibly misapplied.

  • Lesley Winfield commented
    September 22, 2017 21:34

    Agree agree agree! This is a false overall look at our accounting and makes it time consuming to separate out.