|
|
Questions: Promotional giveaways for small retail business?This forum post has messages dated from 06/01/10 through 10/10/11, please be sure to read all the messages. If you feel it is old or outdated, please follow up with a question or comment and someone may be able to update it, or reply with newer information if you have it. - Accounting Services
| Questions: Promotional giveaways for small retail business? We have a convenience store with food service. In order to attract new customers, we are considering issuing a coupon for a free sandwich with the purchase of one. We need to know for accounting purposes how we should do this. Do we need to record the sales of the free sandwiches and how does this need to be recorded for accounting purposes? Would we track the number of freebies and write that amount off as marketing? Any info would be greatly appreciated! |
| "A better promotion"
Make a punch card and give them the free one after 5 purchases. The goal being to get them in the habit of coming back.Make sure you make a punch card for each person/trip. ie: if one person buys 5 sandwiches... 5 cards are punched, one for each actual eater. |
| In terms of accounting services, I think it is really important to keep a record for every free sandwich given out. If you have a machine, which can put a tracking number for each item taken out, much better. In that way, you can make your work much easier and more accurate. Well good luck to you guys. It was really a very good strategy to invite more customers in store. |
| As you do not record each individual sale, I believe that it should be enough to simply record the amount of sales, as is, and your cost of sales will be accordingly adjusted as you value your stock and product. As the purpose of your giveaways is to increase sales, that should have the desired effect and it would be the same or more as if you were actually selling each sandwich for the set price. |
Reply Options Share your opinions, advice, questions or comments on this post. | Be Heard: Forum reply options: We encourage everyone to share their opinions, comments, thoughts and information, please consider sharing... Please register or login in to reply to this post: It is quick, easy and offers many advantages when using our site. |
Social NetworkingShare this with your friends on facebook, twitter and Google+ | | Social sharing because it feels good:
| |
|
RelatedSome related posts that may be of interest to you. | Related posts: Related posts on other sites: |
|
