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How do you handle trade-ins or exchanges in the POS?

There are two types of trade-ins possible. The first type is when someone brings in a product they'd like to apply as a credit against their sale. The second type is an immediate exchange (trade-in) for a component off a new product. We'll call the first type a Standard Trade-in, and the second type an Exchange/Upgrade.

Standard Trade-in --

1. Create a Trade-in item, taxable or non-taxable depending on your state sales tax law. Leave price/cost at zero. Under Options set 'Must enter price at POS'.
2. Create a Reason Code for trade-ins under Database | Reason Codes. Set Type to 'Return to offline inventory'.
3. Refund the Trade-in item at POS assigning the trade-in value to price. Select the trade-in reason code when prompted.
4. Enter a comment for the item by using Ctrl-10.

TIP: You can use our AutoGen add-in to create a pool of trade-in items automatically. See:

Exchange/Upgrade --

1. Refund the exchange item under an appropriate item code. This requires that the item be something you already carry, or item codes you have created for this purpose, such as OEM Saddle, OEM Tires, etc. For generic exchanges, leave the price field at zero and set Options to 'Must enter price at POS'.
2. Assign the price you are willing to accept for the exchange. We suggest less than retail value.
3. Sell the new item on the next line for full price.

Note: For Standard Trade-ins you will need to manage your Offline Inventory and move the trade-in products into Main inventory when you are ready to place those products on the sales floor. If you recondition the item prior to sale, make sure to account for any additional items combined into the cost value for the trade-in.

Accounting: If you assign a single SKU to each trade-in you can track the associated cost for the item by adjusting the cost when the item is refurbished for resale.

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  1. Dave J

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