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Pending Trade-Ins |
  
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Pending Trade-Ins |
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There are times when you will make an agreement with a customer to accept something on trade, however, you have not yet received the product.
WARNING: This CTRL-T method does not work on pending transactions. It must be done on an invoice.
CORRECT PROCEDURE
If I create a Trade-in on an INVOICE and tender the invoice, then a real inventory item is created. The SKU is something like 31711-T (the internal ID number followed with -T) to designate it as a trade in item. It is a real inventory item and it can be found in the Inventory center flagged as a U item (unposted). It can be edited, the description can be changed, and new pricing assigned to it if you plan to resell it. At this time, it becomes an active "I" type item.
PROBLEMATIC PROCEDURE
Start a service order, layaway, order or quote and add CTRL-T for a trade-in
Cosmetically, it looks like the item was created because there is a dollar value on the Service Order.
However, there is no inventory item created. One will not be able to find it to edit it as described above.
RECOMMENDATION
Option 1
Always do a trade in from an invoice screen. (NOTE: do not choose to hold the invoice as a service order, because the SKU will not be created.) Process the invoice and give the customer store credit so that the money is available when they purchase the new items.
Option 2
Create a misc. inventory item called "IN TRADE". Set the item to ASK for PRICE. Do not track Stock.
Set the Default Sell Quantity to -1.00 which will give the customer a refund amount.
I would also attach a selling prompt to the item (actually to the category to which this item belongs) because it forces the salesperson to enter a description of the item they are taking in IN TRADE.
HOW TO CREATE a Selling Prompt, forcing the salesperson to add a description.
1) go to Maintenance: Categories
2) edit the Trade-In Category
3) choose Selling Prompt
4) enter a title: Description
5) choose NOTE or TEXT
Note is paragraph form
Text is just a single line
MAKING THE SALE
When you add the item TRADE - IN TRADE to a service order you will have a way to give the customer monies or credit
BUT it does not create a real inventory item which you can turn around and sell. You would have to create the item yourself and remember to put in the trade in value as the cost.