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POS procedures for year-end excess inventory liquidation

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gamedaydepot
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POS procedures for year-end excess inventory liquidation

Postby gamedaydepot » Sun Feb 12, 2017 6:20 pm

Hi. I've searched for but haven't been able to find guidance on the best way to handle the liquidation/donation of excess inventory at year end in RetailEdge. I assume it starts with using the PICs file to gather the items that will be donated, but I don't know whether to update that directly to the inventory table, to the receiving table, to a purchase or transfer order, or to do something else with it. We'll want a record of the items going out the door of course.

Thanks.

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Re: POS procedures for year-end excess inventory liquidation

Postby RetailEdge Moderator » Mon Feb 20, 2017 12:29 pm

How you treat inventory changes really depends on how you want to show this on your reports.

A couple of ways to handle donations.

1. Sell the items to a "Donation" customer, at $0 (or some discounted price). You can use discount rules if you think this will help your clerks make the right discounts.

2. Add the items to a Purchase Order (Donation, Chuck Over the Bank, Marketing, etc.) with a negative quantity and then receive those items. This will remove them from your inventory, keep a record of what was given to Donations, and will not negatively affect your sales margins.

Either way works.


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