In some situations company representative will request that unsold stock be placed on a promotion and a credit will be supplied to an agreed percentage value of the initial purchase cost. This enables the store to sell through the stock at a discounted retail price and maintain a positive GP%.
For example:
- The company representative requests that specific products be marked to clear with a 50% discount on the retail price, with 50% of the initial purchase cost being credited on the following invoice
- The company representative requests that specific products be marked to clear with a 50% discount on the retail price, with 50% of the initial purchase cost will be compensated with stock
Follow the steps outlined below:
2. Create a copy of the Invoice
3. Apply a discount to the invoice
6. Add the clearance items to a promotion
Note: In the following example a 50% agreed percentage value will be used.1. Create a negative invoice
From Order Maintenance:
1. Click Add to create a negative invoice.
The Order Entry window is displayed.
2. Ensure that the following information is entered:
a. Enter the Supplier code or supplier name to select the supplier swapping the stock.
b. The Order Date should be the date which the stock is being removed from the store.
c. In the Invoice no. field, enter a reference from the company representative using a leading C to indicate that this is a credit.
d. Enter a Description of the order.
e. Sales Rep field can be used to enter the name of the person entering the invoice or the sales representative from the company.
f. Click Add to add the products that are being removed from the store to the order.
The Order Detail window is displayed.
3. To add the products:
a. Scan the product barcode into the Product Code field.
b. Enter a negative Quantity amount reflecting the number of units being removed.
c. The Unit Cost will default to the last buy cost.
d. Click Okay to save.
4. Repeat Steps 3a-3d until all products have been added.
5. Once all products have been added, click cancel to close the Order Detail window and to return to the Order Entry window.
6. Click Okay to save the invoice and return to the Order Maintenance window.
The negative invoice is displayed in a created status.
2. Create a copy of the Invoice
1. From the Order Maintenance window highlight the Invoice and click Copy.
The Copy Order prompt is displayed.
2. Click Yes to create a copy of the invoice.
The Order Editing window is displayed.
3. Select each product and click Change.
The Order Detail window is displayed.
4. In the quantity field, adjust to reflect a positive quantity and click Okay.
5. Repeat Steps 3 and 4 for each product in the invoice.
3. Apply a discount to the invoice
1. Check the Show Discount checkbox.
2. Click Discounts.
The Discounts and Bonuses window is displayed.
3. Add 50 in the Percentage to the Whole Order field and click Okay to apply the discount to the order.
The Order Editing window is displayed with the applied discount.
Note: Due to rounding each product may not always have the exact percentage discount applied. Ensure the GST and the Total are correct.
4. Click Okay to save the order and return to Order Maintenance.
4. Print the adjustment note
The Purchase order report should be printed in scenarios where the replacement stock is not going to be received and invoiced immediately. This will ensure that there is a record to reconcile with the replacement stock that arrives at a later date.
1. Highlight the order and click Print.
The Report Type window is displayed.
2. Selected by default are: Purchase Order Format and Show Prices, these should remain selected.
Show Prices will display the unit cost for each product on the negative invoice on the purchase order report, this will make it easier to ensure that the received replacement stock amount balances or is more than the negative total.
The report can also be exported to PDF or emailed.
3. Click Okay to run the report.
The following Purchase Order report will be created.
5. Complete the invoices
This step is required to be completed for both the negative invoice and the replacement stock invoice.
Note: The negative invoice should always be completed first.
1. From Order Maintenance highlight each order to complete them, they will appear with a Created status.
a. Click Issue. The order will display with an Issued status, in Blue.
b. Click Received. Click Yes on the receive order prompt to continue.
The order will appear in Green, with a Received status.
c. Highlight the order and click Complete.
The Order Confirmation window is displayed.
Ensure all information is correct before proceeding.
2. Click Okay to continue.
3. Click Yes on the Order Confirmation prompt to complete the order.
Note: Ensure that the negative quantity order is completed first. Complete the positive quantity order with the discount applied second.
Minfos will maintain the last added unit cost against the products, completing the invoices in this order will ensure that the correct unit cost is recorded against these products.
6. Add the clearance items to a promotion
To avoid changing each retail price, products can be added to a 50% off retail promotion. To find out how to create a promotion, please refer to the Promotion Maintenance Overview.