MIGRATED TO http://wavelet.asia/customer-portal/2011/03/17/trade-in/

Trade-In items are only applicable to customer, as all purchase from the suppliers are entered into the system using GRN (Goods Received Note).

There are 2 ways of doing trade-in.


a) Method

i) Create a supplier called "Customer Trade-In" and a cashbook called "Customer Trade-In" if they have not been created.

ii) Create the item code for the product to be traded in if the item code does not exist

iii) Click TRADING -> DIRECT RECEIVING STOCK, and create  GRN to receive the trade-in items from the supplier called "CUSTOMER TRADE-IN".

iv) Create a payment voucher under finance module to knock off this Supplier Invoice. If the customer receives cheque or cash, select the cash book accordingly when making payment. If the customer use the trade in item to knock off other purchases, create the payment voucher using another cash book called "CUSTOMER TRADE-IN CASHBOOK".

v) If the customer has outstanding invoices, users could do settlement by clicking CUSTOMER -> SETTLEMENT, and select the "CUSTOMER TRADE-IN CASHBOOK" in the "other" payment mode. Check the permission setting if you are not able to select cash books in the settlement screen.

b) Advantages

i) Easy data entry, without the need of using Credit Memo to knock off invoices (which may be difficult for Point of Sales cashiers).

c) Disadvantages

i) Trade-In transactions for individual customers are not recorded in the AR history for this customer.


a) Method

i) Create a credit memo under "CUSTOMER -> CREATE CREDIT MEMO", select the "trade-in" section at the bottom.

ii) Create the item code if it does not exist.

iii) If payment is to be made to the customer, click FINANCE -> CREATE PAYMENT VOUCHER, and then choose the CUSTOMER CREDIT MEMO to knock off the above credit memo.

iv) If no payment is made to the customer, but the credit memo is used to knock off invoices, click CUSTOMER -> CONTRA CREDIT MEMO to knock off the corresponding invoices.

b) Advantages

i) Trade-in transactions could be viewed at AR Transaction history

c) Disadvantages

ii) Cashier need to learn how to knock off an invoice using credit memo, which may be difficult in some cases.