Buying Inventory Items back from Customers
Posted by Cameron Telfer, Last modified by Cameron Telfer on 13 September 2016 10:37 AM

There are two reasons to want to buy-back inventory (ie. merchandise items) from Customers...

  • For un-used items: The Customer may be returning an item that they never used (eg. a lock still in its packaging)
  • For used items: The Customer may be returning used items in exchange for payment (eg. some companies offer their Customers 50% of the items' original value if returned in good condition. This process is common for buying-back used boxes at self storage sites)

 Overview of steps:

  1. Navigate to: Open Transaciton
  2. Add Credit
  3. Create transaction

Navigate to: Open Transaciton

If the Customer who you are buying back from has an Agreement with you, open their Agreement. If not, create an Other Credit Sale for them.

Add Credit

Navigate to the Transactions tab and click Add Credit.

Create transaction

  • Select the appropriate Analysis Code for the item in the dropdown provided on screen.
  • Adjust the Quantity if required. Add a note to the Invoice Narration section, outlining the reason for providing this Customer with a credit.

Save

Select OK to save and close the buyback process. The inventory levels for the Analysis code selected above will increase by the amount entered.

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