When the actual voucher value is different from the sale price you may wish to report the actual value of the voucher sold for accounting liability purposes.
Example 1, your Afternoon Tea costs £22.99 but you want to sell this as a voucher at the reduced price of £15.99.
Example 2, you want to give an extra £50 value to a £100 monetary voucher.
There are two price settings in VoucherCart that allow you to determine the usable value and liability value in relation to vouchers sold. These are Liability and Price shown on voucher.
Liability: The value used in financial reports
Price shown on voucher: The actual voucher value that can be redeemed if it is different from the sale price
Example 1: Your Afternoon Tea costs £22.99(crossed-out price) but you want to sell this as a voucher at the reduced price of £15.99.
You may wish to show the value of £22.99 on reporting.
The Liability value is automatically updated to the crossed out price, from £15.99 to £22.99.
Usually, you do not show the price of the item to the recipient, so you may not need to change Price shown on the voucher.
Example 2: You want to give an extra £50 value to a £100 monetary voucher.
You need to let the recipient know the voucher has a total usable value of £150.
Then you need to change the Price shown on voucher to £150, also the Liability value to £150 to keep the reporting value the same as the actual value of the voucher.
How Voucher Liability Is Calculated in your VoucherCart platform
Voucher "liability" is automatically set based on the total value of the voucher a customer will be redeeming. Our system uses a Price hierarchy to determine this amount.
Here's how it works:
Final Price: The liability is the final price the customer will pay. For example, if the voucher is sold for £20, the liability is also £20.
Crossed-out Price: If you set a crossed-out price to show a discount, the liability will be the original crossed-out price, not the discounted price paid by the customer.
Price Displayed for Recipient: If you set a different price to display to the recipient, the liability will be updated to match that price, regardless of the price the buyer paid.
In all cases, the voucher's liability is its total redeemable value, not the price paid for it.
How to Change a voucher liability value
To change the 'Liability' value and 'Price Shown on Voucher' of a product, gift card, membership, or ticket, navigate to the price section of your voucher setup.
Not sure where to go? See our article: How to edit an existing voucher or navigate to Vouchers > Vouchers > Create New Voucher.
In the PRICE section of your voucher.
Add Liability
1. By default, the liability automatically reflects the final price visible to the voucher buyer. Click Change.
2. Type a new liability value
3. Click Save
Liability can be changed by following the steps mentioned above. However, please ensure you click Save and Exit to save your changes.
If this option is not available because you are creating a new voucher, then continue through to the end of the voucher setup process.
Any future changes to the price will automatically update the liability to the same amount - so remember to keep an eye on this when making changes to your vouchers.
Add Price displayed for recipient:
1. Switch to "Yes"
2. Enter the value.
Click Save and Exit to save your changes. If this option is not available because you are creating a new voucher, then continue through to the end of the voucher setup process.
Need more help?
Speak to our support team via chat or call us on +44 (0) 131 608 0111. You can also contact us by email at help@vouchercart.com
For more video tutorials, FAQ's, and self-help guides go back to the Help Center