Quizzes & Puzzles6 mins ago
Supermarket Price Comparisons.
11 Answers
Any Supermarket executives on here or accountants?
Walk into most supermarkets, check out and find yourself with a paper voucher that may be for a few p to several pounds.
This means that they owe me money from an accounting perspective, that I am a creditor......
However, given that many folk lose their vouchers, how do they handle this in their accounts?
Given the amount of money involved, Sainsbury for example handles 24 mln transactions per week, at an average of say 75p, this equates to some 18 million......
In Camping Gaz, we had a hell of an issue with this, as bottle deposits were treated as such, the amount of money involved, even after being able to finance the business from 50% of the sum, the other 50 percent held in liquid but safely invested for further financial benefit, meaning that capital employed was negative. The issue also being that the average time for cylinder retention was 13.5 years and very few could return the original receipt for a full deposit reimbursement (without interest - that went to the benefit of the company)......
This 'metal management' was as important as the margins of the business....and I would think that the supermarket voucher business is certainly 'significant.'
Any views......
Walk into most supermarkets, check out and find yourself with a paper voucher that may be for a few p to several pounds.
This means that they owe me money from an accounting perspective, that I am a creditor......
However, given that many folk lose their vouchers, how do they handle this in their accounts?
Given the amount of money involved, Sainsbury for example handles 24 mln transactions per week, at an average of say 75p, this equates to some 18 million......
In Camping Gaz, we had a hell of an issue with this, as bottle deposits were treated as such, the amount of money involved, even after being able to finance the business from 50% of the sum, the other 50 percent held in liquid but safely invested for further financial benefit, meaning that capital employed was negative. The issue also being that the average time for cylinder retention was 13.5 years and very few could return the original receipt for a full deposit reimbursement (without interest - that went to the benefit of the company)......
This 'metal management' was as important as the margins of the business....and I would think that the supermarket voucher business is certainly 'significant.'
Any views......
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I agree with Eddie on this one. I don't see it as anything other than an incentive for you to shop there again. There is no guarantee you will ever use the voucher. If you do use it then the sale is recorded and the transaction then goes through the accounts. If you don't use it then there is no accounting needed.
Found this, a bank note ( £5 £10 $50 etc) is the commonest form of promissory note
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A bank note says on it 'I promise to pay the bearer on demand' the sum of £10 or whatever. A supermarket money off coupon is NOT a promissory note as you can not exchange it for cash.
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A bank note says on it 'I promise to pay the bearer on demand' the sum of £10 or whatever. A supermarket money off coupon is NOT a promissory note as you can not exchange it for cash.
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