Trade In Bike Feature
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Cara Alford
I know for my 3 stores, and many other Pedego dealers we often take in trade in bikes when a customer is looking to upgrade into something newer/nicer. After chatting with Live Support its come to my attention there is not currently a good way to handle this. Ideally what I would like to see is being able to create a non-inventory item priced at $0 so each trade in transaction can be changed accordingly to what the trade in is valued at, then be able to do a negative amount, not being registered as a discount which is what currently happens, but just be able to take that trade in amount and apply it towards taking that amount off the final sale. If there is a better way to create a trade in bike item I trust you will be able to figure that out, however the way I have explained above is the way our old POS system worked and it worked magnificently in terms of taking off the trade in amount from the total cost and manually note bike details of what bike was being traded (color, size, model, serial number, battery size) at the same time. As of right now I am still unaware a good way to do this as I am trying to complete a trade in bike on a sale as I type this out.
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Stefan Moody
Hi Cara,
Here's an overview of how we do trade-in bikes at our stores. We need to be precise with all stages so that any VAT reclaiming/due is correctly calculated once the bike is sold.
We have an assembly item that contains:
NBI Trade in We Buy:- (20% VAT). Set price at till
Various ILCs containing the T&Cs to go on the customer receipt. (Legal bit...)
Refund value to customer account with Comment note added to NBI Trade in We Buy:- (2nd Hand Bike details + frame number).
Print receipt in A4 size so that T&Cs are clear for the customer.
Create a one-off product for the traded in bike with the frame number as the ILC. What you paid the customer as the cost. Don't take off any VAT as this is sorted out when the bike is sold. T&Cs confirm with the customer that they are not VAT registered...
We can then track the original trade in and when/value of the final sale of the bike. Accounts can then sort out any VAT adjustments that need to be made.
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Cara Alford
Stefan Moody,
We have looked into doing it that way and its just not the greatest way for us to do so. Still too many steps and quite complicated, especially with multiple locations and many employees I would need to train to do that. Our old POS system had the option to add a MISC item with a negative amount and change the description to "trade in bike" with mileage, battery size, serial number ect all included. We need a better way to see trade in bike details and not just giving it to them as a credit to apply towards the new bike.
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Stefan Moody
Cara Alford, So your old POS created a new product on the till?
If you are typing all the info into the till anyway you could just create a new product on the back office and then return it through the till against the customer account and transaction.
(We stopped our staff adding any new products to the system as they rarely got it right...)
I'm not sure how a non-inventory item would help though. How do you track the stock val and eventual sale of the traded in bike?
We've found processing trade ins from start to sale and keeping accountants and the Tax Office happy to be a right pain! If you've got a simpler process that we can get into Citrus Lime that would be great.
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Cara Alford
Stefan Moody We tried it that way and still did not work correctly. No matter what it logged the trade in bike is a refund, not just taking it off the final price.
Our old POS we did it as a non inventory misc item just to show the bike info and be able to subtract that amount off the final sale, once the bike is traded in towards a new bike we take that trade in bike and create its own item for resale.
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Stefan Moody
Cara AlfordHi Cara.
I've just tried running a few options thorugh our tills.
I put a bike in the basket.
Added in Non-Inventory item (zero price). Set Price to the value of the trade in. Added notes with the trade in details. Refunded it with Reason = Trade In.
This adjusted the basket value without changing what the bike sold for (maintaining the bike margin).
This seems to do what you need though I think I'm probably missing the finer points of your procedures!