Overview

A trade in transaction usually involves accepting in trade or buying an item from customer.  In exchange, the value of the trade can be applied against the purchase of another item, refunded to a customer or retained as a store credit.

Trade in transactions can be completed from the front register or order screens screens.

From Customer Order Screen

In MicroBiz Cloud, you can use built-in "Trade In" button from created customer order page:

Go To Register->Orders->Edit Order

Check the item checkbox that you want to trade in:

From the actions menu-> Item the Trade In button will activate and after clicking, the system will setup the traded in product in the order

From Front Register

For the Front Register, however, there is no built-in "Trade In" button so the workaround is a little different.

Steps:

Step 1 - Create Trade In Item

1) Use the Action Panel>Items>New Item button to create a new product record for the Trade In item.

Enter Name, made up SKU (perhaps based on the date  - 20240930-1), and the trade in value provided the customer as the Price.   

Also enter the quantity that is being traded in.

IMPORTANT NOTE: By default the product added through the Action Menu have default tax class of 'taxable'.  As most trade in transactions are not taxed, you will need to be sure to navigate to the 'Settings' tab in the Quick Add form to change the Product Tax Class to 'Tax Exempt'.

Step 2 - Return Trade In Item

Return the item by selecting the line and then press the Action Panel>Items>Return Item button.  This will flip the quantity to negative and offer a credit to the customer for the trade in value.

Complete the transaction/exchange at the register.  The credit can be applied to other items sold or provided as a store credit or refund.  The inventory of the item traded in will be 1 after the return was completed.

Step 3 - Update Price of Trade In Item for Resale

After the sale, go to the Back Office>Catalog page, find the trade in item and transfer the trade in value to the 'Cost' field and enter a resale price in the 'Price' field.  

You can optionally add a vendor such as 'Trade In' or the name of the person trading in the item.  

If this is a firearm, you can set as SN Required on Sale and then enter the SN in the Serial Number tab.

Once you have done this, you can sell the item like other items in stock.