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alexfm's avatar
alexfm
User
2 years ago
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Inventory Adjustments For Trades

I have a watch business that sometimes uses trades as method of obtaining new watches, if the value of the watch I am receiving in the trade is less than the watch I am giving away, then the remaining balance of the watch's value is transfered to me. I create items for all my products and track inventory on MYOB, in this situation of a trade/cash mix how do I account for this in my inventory adjustments?

  • Genreve_S's avatar
    Genreve_S
    2 years ago

    Hi alexfm, 

     

    Warmest welcome from Community Forum. Thanks for your post. 

     

    Although it is not usual, a lot of people do trade-ins. Here is a Help Article Customer trade-ins, this guide is for AccountRight but recording the trade-ins in Business Essentials still has the same concept. Two line items would be inside the invoice. One is for the full price of the item then another line for the item they traded to get the purchase with a negative value.

     

    Hope you find this information useful. Please feel free to reply to this post if you have further questions. 

     

    Cheers,

    Genreve

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  • Genreve_S's avatar
    Genreve_S
    MYOB Moderator
    2 years ago

    Hi alexfm, 

     

    Warmest welcome from Community Forum. Thanks for your post. 

     

    Although it is not usual, a lot of people do trade-ins. Here is a Help Article Customer trade-ins, this guide is for AccountRight but recording the trade-ins in Business Essentials still has the same concept. Two line items would be inside the invoice. One is for the full price of the item then another line for the item they traded to get the purchase with a negative value.

     

    Hope you find this information useful. Please feel free to reply to this post if you have further questions. 

     

    Cheers,

    Genreve