A customer is trading in their old equipment for new equipment. I would prefer not to use discounts on the order. Is there another way to offer a customer “Trade-In” credit towards the purchase of their new equipment?
Create a Credit Memo under the customer for the trade-in value and lock it to the sales order. You can lock a Credit Memo to an order by following these steps:
Step 1: Go into the customer's profile
Step 2: Click on the Credit Memos tab
Step 3: Double-click on the Credit Memo
Step 4: Click the Locks tab
Step 5: Click Add Lock
Step 6: Enter the amount you want to lock to the order
Step 7: Click Link Order
Step 8: Select the order that you want to lock the credit memo to and click OK
Step 9: Click OK to save the Credit Memo
The credit will automatically be applied to the order upon invoicing.
Before you create the Credit Memo, consider what Credit Memo Reason you want to use, as they are attached to specific GL accounts. You may want to consider creating a new Credit Memo Reason specifically for trade-ins.
To create a new Credit Memo Reason, please follow these steps:
Step 1: Go to Administration > Accounting > General Setup > Credit Memo Reasons
Step 2: Click Add
Step 3: Name the Reason
Step 4: Assign the GL you wish to associate this reason with
Step 5: Click OK
Following these steps will affect your Gl in the following ways:
- It will credit your AR account (which decreases its balance)
- It will debit the GL you associated the credit memo with.
Unless explicitly stated, this topic documents the most recent version of Evosus Business Enterprise. If you're not using the latest version, go here to download it.
Did you find it helpful?Send feedback