POS software for accepting electronic vouchers
The arrival of 2024 marks the beginning of the digital era for familiar meal vouchers. In today's article, we will examine the new regulations, what electronic vouchers are and how I-CASH offers an ideal solution to simplify retailers' work when accepting electronic vouchers.
Electronic vouchers—Legal framework
On 1 January 2024, the revised version of Corporate Income Tax Act and the one attached to it Ordinance No. 7 of 9 July 2003
Under these provisions, electronic food vouchers replace paper vouchers. A transition period until 1 July 2024 allows both formats to be used alongside each other.
The new electronic food vouchers retain their purpose as monthly employee benefits separate from basic salary, up to BGN 200, exempt from taxation.
These electronic vouchers resemble familiar debit cards, either physical or virtual, but have certain restrictions: cash withdrawals are technically blocked and use outside Bulgaria is restricted.
In addition, they cannot be used to purchase alcoholic drinks or tobacco products. Vouchers may only be used in restaurants, fast food establishments and retail locations specializing in food sales, such as supermarkets and grocery stores.
Electronic vouchers – benefits
Convenience for end customers
- Electronic vouchers are extremely convenient for end customers, eliminating the need to keep stacks of paper vouchers. Payment can now even be made from a mobile phone.
- The new electronic vouchers eliminate one of the most frustrating parts of payment: rounding to an exact amount. With them, the balance is adjusted to reflect your bill's exact amount. The system also automatically uses funds from the voucher closest to expiry.
Convenience for retailers
- Retailers no longer need to wait 20 days to receive the face value of paper vouchers. All they need is a standard payment terminal. If a retailer did not previously have one, installing it for electronic vouchers will also contribute to the overall development of the business and customer experience.
- Electronic vouchers eliminate the time spent counting, storing and sending paper vouchers to their issuer. This saves time and resources.
I-CASH - A solution for every retailer to accept electronic vouchers
I-CASH is comprehensive retail and inventory POS software, compatible with various payment terminals, designed to optimize operations in grocery stores, restaurants and other businesses.
With I-CASH, you can easily configure the “meal voucher” payment method and track all sales made with it. At the end of each month, you can quickly generate a variety of reports focused on the payment method used and conduct detailed analyses of your business operations.
I-CASH is more than a tool for accepting electronic vouchers: it is an ideal assistant for your business. The software offers exceptional value and a wide range of functions and integrations. With I-CASH, you can make sales in a few clicks, monitor inventory and easily manage invoices and other documents. It is compatible with all types of fiscal cash registers on the Bulgarian market.
Try I-CASH completely free! Register now at www.icash.bg and enjoy 30 days of free access and free technical support, with no obligations! Book your free training now!