Docstoc

How Do I Redeem Stock Certificates

Document Sample
How Do I Redeem Stock Certificates Powered By Docstoc
					Gift Certificates                                                                                                                                          Page 1 of 7
Gift Certificates
A gift certificates is used to represent a specific dollar value that can be redeemed at a merchant’s store and can be sold to customers to redeem at a later date. Gift
certificates are processed entirely within CounterPoint and can be issued to your customers as cards with your store's logo (similar to a Stored Value Card but
without the need to be processed by a third party), preprinted certificates on heavy stock paper, or even handwritten on regular paper. Gift certificates are a staple
for most retail businesses and it is very easy to configure your store to handle gift certificates in CounterPoint SQL.




Setting up gift certificates


Setting up gift certificates
Follow these steps to set up gift certificates for your company:

Step 1: Enable gift certificates for your company

Step 2: Create a gift certificate pay code

Step 3: Setup gift certificate accounts

Step 4: Define gift certificate codes

Step 5: Set up workgroup to automatically assign next gift certificate number

Step 6: Enable commissions for gift certificates

Step 7: Make gift certificates taxable

Step 8: Assign gift certificate codes to Touchscreen buttons




Setting up gift certificates
Step 1: Enable gift certificates for your company

1.   Select Setup > System > Company to display the Company window, and then select the Gift Certificates tab.

2.   Select the Use gift certificates check box to allow your company to sell and redeem gift certificates.

3.   Select the Valid at other stores check box if you want to allow gift certificates sold at one of your stores to be redeemed at other stores.

4.   If you'd like to establish a minimum redemption percent, enter the minimum percentage of a gift certificate that a customer can redeem in the Minimum
     redemption percent field.

For example, if you enter 50 in this field, a customer would have to redeem at least $10.00 (i.e., 50 percent) of a $20 gift certificate.

4.   Select one of these options to specify whether to print or preview the Closed Gift Certificate Journal when the user closes gift certificates using System > Gift
     Certificates > Close Gift Certificates:
         Prompt user to preview displays a message prompting the user to preview the Closed Gift Certificate Journal.

         Preview automatically displays the Closed Gift Certificate Journalin the Preview window.

         Prompt user to print displays a message prompting the user to print the Closed Gift Certificate Journal.

         Print to default printer automatically prints the Closed Gift Certificate Journalto the default Windows printer for the user’s workstation.

         Skip automatically bypasses printing or previewing the Closed Gift Certificate Journal.

5.   Select the Print distributions check box if you want to include detailed distributions for each closed gift certificate on the Closed Gift Certificate Journal.
Gift Certificates                                                                                                                                           Page 2 of 7
6.   Select the Always valid check box if you want to indicate that gift certificates never expire.

If your gift certificates do expire, you can enter the number of months for which they will remain valid in the Months valid field.

You could also choose to have your gift certificates valid through the last day of the month during which they are scheduled to expire using the Use end of month
check box.

For example, if you select the Use end of month check box, a gift certificate that was issued on December 20 that is valid for 6 months (i.e., the Months valid value
is 6), would expire on June 30. If you do not select this check box, the same gift certificate would expire on June 20.




Step 2: Create a gift certificate pay code


Setting up gift certificates
Step 2: Create a gift certificate pay code

1.   Select Setup > System > Pay Codes to display the Pay Codes window, which allows you to define one or more Gift certificate pay codes for use with stores
     that will accept gift certificates as tender.

2.   To create a new Gift certificate pay code, enter an identifier in the Pay code field and a suitable description for the identifier in the Description field.

3.   Select Gift certificate from the Pay code type field.

4.   Enter the Button label that will appear on the pay code button in Ticket Entry, and then specify the Image file to display on the pay code button.

5.   If you intend to use MSR devices to enter gift certificate numbers in Ticket Entry or Touchscreen Ticket Entry, select the Use reader check box. This setting is
     useful for gift cards that have magstripes.

6.   On the Tender tab, enter the minimum amount that your company accepts for payments processed with the Gift certificate pay code in the Minimum tender
     field. If there is no minimum amount, enter 0.00.

You can also define a maximum amount that your company accepts for the Gift certificate pay code in the Maximum tender field. If there is no maximum amount,
select the Unlimited tender check box.

You can define a maximum amount in excess of a sale's total that your company accepts for the Gift certificate pay code by entering an amount in the Maximum
overtender field. If there is no Maximum overtender amount, select the Unlimited tender check box.

7.   Select the Default amount method you want to use to determine the default tender amount for payments processed with this pay code:
         Exact amount due sets the tender amount to the current amount due on the ticket or A/R document. If the amount due changes after you select the pay
         code, the tender amount is not updated.

         Pay ticket balance sets the tender amount to the current balance on the ticket. If the ticket balance changes after you select the pay code, the tender amount
         is updated as well.

         None requires the user to enter the tender amount for the pay code.

8.   Select the Use signature capture for tender check box to enable signature capture for payments tendered using this pay code.

This setting allows you to obtain customers’ signatures using a supported OPOS-compatible signature capture device.

9.   If you want your cash drawer to open when you complete a ticket that includes a Gift certificate payment, select the Open drawer check box.

0.   If you want to allow your customers to use gift certificates for orders and layaways, select the Allow for orders and Allow for layaways check boxes.

To specify the default amount for each Gift certificate payment line you enter for orders or layaways select the appropriate Default document amount option from
the following:

         None does not set the amount of the payment. This setting requires users to specify the amount of each payment.

         Pay Doc Amt Due sets the amount of the payment to the full order or layaway amount.
Gift Certificates                                                                                                                                         Page 3 of 7
         Pay Doc Min sets the amount of the payment to the minimum amount due for the order or layaway, as defined on corresponding tab of the Stores form.

Select the Default document final payment check box to automatically select the Final payment check box when you enter an initial deposit or payment using the
specified pay code. This setting indicates that the pay code will be used for the final order or layaway payment by default.

1.   Use the Prompts fields to define up to three optional or required validation prompts for Gift certificate payments.




Step 3: Set up gift certificate accounts


Setting up gift certificates
Step 3: Set up gift certificate accounts

Use the Accounts window (Setup > System > Accounts) to set up liability, redemption, and forfeiture accounts for your gift certificates. Each account you set up
represents a specific accounting activity. CounterPoint SQL uses these accounts to record and track accounting distributions and other financial information for
your business. Whenever you post transactions in CounterPoint SQL, accounting distributions are created. These distributions are written to the appropriate
accounts, which are credited or debited the corresponding amounts.

In order for CounterPoint SQL to maintain and report accurate financial records, you must define the necessary accounts for each type of transaction you process.
If you do not have a well-defined chart of accounts to assist you in this process, you should consult an accountant before you begin setting up your accounts in
CounterPoint SQL.

1.   Select Setup > System > Accounts to display the Accounts window.

2.   In the Account field, enter or look up the account number for the account you want to create. You will need to create a gift certificate liability account, a gift
     certificate redemption account, and a gift certificate forfeiture account in order for your store to process gift certificates.

3.   Enter a brief description of the account in the Description field.

4.   Select the Valid posting account check box to indicate that the selected account is used for posting.

5.   Select the Valid main account check box to indicate that the selected account is a valid main account.

6.   Select the Valid profit center check box to indicate that the selected account is a valid profit center.

7.   If you have a General Ledger account number for the selected account, enter the number in the G/L account field.

    General Ledger account numbers that you assign through your accounting interface override values that you assign through this field. This field is only used
for accounts that are not assigned though your accounting interface.




Step 4: Define gift certificate codes


Setting up gift certificates
Step 4: Define gift certificate codes

Each gift certificate code determines the default amount and other settings for a particular type of gift certificate, as well as the accounts to which gift certificate
distributions are posted. When you sell a gift certificate in Ticket Entry or Touchscreen Ticket Entry, the gift certificate code you select determines the value of the
gift certificate and whether you are allowed to change the amount.

Follow these steps to set up gift certificate codes for your store:

1.   Select Setup > System > Gift Certificate Codes to display the Gift Certificate Codes window.

2.   Enter the value for the gift certificate code you want to define in the Gift certificate code field. For example, you could use GC50 for a $50 gift certificate.

3.   In the Description field enter a brief description for the gift certificate code.
Gift Certificates                                                                                                                                            Page 4 of 7
4.     Enter the description that will appear in Ticket Entry or Touchscreen Ticket Entry for gift certificates sold with the gift certificate code in the Selling
       description field.

     The selling description appears in the Description field on the Gift Certificate Sales window by default when a gift certificate is sold.

5.     Enter a default dollar amount for gift certificates sold with the gift certificate code in the Amount field. If you want users to be able to override the default
       amount when selling a gift certificate, check the Can change check box.

6.     Select the Use reader check box if you want to allow users to swipe gift certificates (i.e., gift cards) through an MSR device to obtain gift certificate numbers.

  Selecting this check box enables the Swipe (F2) button on the Gift Certificate Sales window that appears when a user sells a gift certificate and on the Gift
certificate number window that appears when a user redeems a gift certificate.

7.     Select the Create as store credit check box if you want gift certificates sold with the gift certificate code to be issued as store credits.

8.     For the Gift certificate liability field, enter or look up the Account to which gift certificate liability distributions will be posted for your company. You must
       then select one of the following options to specify the Profit center method for those distributions:

              None posts gift certificate liability distributions to the specified account, without using a profit center.

              Issuing Store gift certificate liability distributions to the profit center of the store that issued the gift certificate.

9.     For the Gift certificate redemption field, enter or look up the Account to which gift certificate redemption distributions will be posted for your company. You
       must then select one of the following options to specify the Profit center method for those distributions:

              None posts gift certificate redemption distributions to the specified account, without using a profit center.

              Issuing Store posts gift certificate redemption distributions to the profit center of the store that issued the gift certificate.

              Redeeming Store posts gift certificate redemption distributions to the profit center of the store that redeemed the gift certificate.

0.     For the Gift certificate forfeit field, enter or look up the Account to which forfeit gift certificate distributions will be posted for your company. You must then
       select one of the following options to specify the Profit center method for those distributions:

              None posts forfeit gift certificate distributions to the specified Account, without using a profit center.

              Issuing Store posts forfeit gift certificate distributions to the profit center of the store that issued the store credit.




Step 5: Set up workgroup to automatically assign next gift certificate number


Setting up gift certificates
Step 5: Set up workgroup to automatically assign next gift certificate number

Follow these steps to configure your workgroup to automatically assign a number to a gift certificate when it is sold by a user:

1.     Select Setup > System > Workgroups to display the Workgroups window.

2.     Enter or look up the workgroup ID for the workgroup you want to edit in the Workgroup field.

3.     On the Numbers tab, enter the number to the next gift certificate sold by a member of the workgroup in the Next gift certificate number field. When a member
       of the workgroup sells a gift certificate and clicks the Auto-assign button in the Gift Certificate Sales window, the value in this field is used as the number for
       the gift certificate and is then increased by one for each subsequent sale.

4.     Select the Always auto-assign check box if you want to always assign the Next gift certificate number value to new gift certificates automatically for the
       workgroup.

Step 6: Enable commissions for gift certificates


Setting up gift certificates
Gift Certificates                                                                                                                                         Page 5 of 7
Step 6: Enable commissions for gift certificates

If you want your sales representatives to earn commissions for sales of gift certificates, select the Calculate on gift certificates check box on the Commission
Codes window (Setup > System > Commission Codes) for each commission code assigned to your sales reps.




Each sales rep assigned to a commission code with this setting will earn a commission for each Sell gift certificate transaction entered for the sales rep.




Step 7: Make gift certificates taxable


Setting up gift certificates
Step 7: Make gift certificates taxable

You can use the Applies to tab of the Tax Authorities window (Setup > System > Tax Authorities) to configure CounterPoint to calculate sales tax for gift
certificates.

For each tax authority defined for your company, select the tax rule(s) that you want to apply to gift certificates, and then select the Tax gift certificates check box.




With this setting, the tax rule will calculate sales tax on the amount of each Sell gift certificate transaction you process in Ticket Entry or Touchscreen Ticket
Entry.




Step 8: Assign gift certificate codes to Touchscreen buttons


Setting up gift certificates
Step 7: Assign gift certificate codes to Touchscreen buttons

If you are using Touchscreen Ticket Entry, you can use the Button Editor (Setup > Point of Sale > Touchscreen Codes) to assign each gift certificate transaction
code you have defined to a button in your Touchscreen layout(s).

For each Touchscreen button you want to assign to a gift certificate transaction code, select Sell gift certificate from the Action list, define the button’s
Gift Certificates                                                                                                                                         Page 6 of 7
characteristics (i.e., Image, Caption, Hint, ShortCut, and Color), and then enter or look up the GFC code for the button.




For example, this button is assigned to the GC gift certificate code.

A user can touch this button to sell a gift certificate.

You can assign gift certificate codes for different gift certificate denominations to other buttons in this Touchscreen layout, as well as a button to edit gift
certificates that have already been sold.




Finally, assign your Gift certificate pay code to a button in your touchscreen layout to allow you to process gift certificates s as tender in Touchscreen Ticket
Entry.
Gift Certificates   Page 7 of 7

				
DOCUMENT INFO
Description: How Do I Redeem Stock Certificates document sample