Increase Your Bottom Line and Profitably Manage Your Inventory with The Edge
WHAT IT IS
Trade-ins are items that customers bring in to trade for payment, store credit, or partial payment for another item. In The Edge, a trade-in is a type of transaction you can perform at point of sale (POS).
WHAT IT DOES
This feature allows you to process trade-ins directly through the POS, with the ability to have the system automatically add the piece to inventory.
You can also apply the value of a trade toward a job, such as a layaway
HOW IT WORKS
To enter a trade-in at point of sale:
Select Trade/Buy from the POS window. A line item will appear with Trade In automatically appearing in the Stock # field.
Enter a description of the piece in the Description field.
Enter the dollar amount of the trade-in in the Price field.
If permitted by tax law*, you might want to reduce the sales tax by the taxable amount of the trade-in. To do so, select the Pre-Tax option.
Proceed with the payment.
*Please note that the states of Tennessee and Connecticut require special sales tax rules for trade-in and custom jobs. You can read these rules and how to set up The Edge to accommodate them by searching the Knowledgebase.
EXPAND YOUR EDGE EDUCATION
Can’t get enough of the Trade In feature? Click the button below to launch our site and log-in to learn how to apply trade-in value towards a job, or how to run a Trade report. Then explore the rest of the site and empower your business through webinars, articles from The Edge Knowledgebase, or discussions with fellow Edge users.