Inventory - Taking trade in on sale

mtc1234mtc1234 Posts: 1Member
We are a bike shop that occasionally takes in a bike as trade for partial payment towards a new bike. Was curious if anyone else does this and how do they manage it. We pay some of our sales people commission off of total amount of sales and others off of profit gained.

Where it really makes it difficult is when the trade is enough money that it makes the profit of the sale a negative amount..

Mainly though is anyone taking in trades and how do you enter it into the system??? 

1 comment

  • JasonSrJasonSr Posts: 1Member

    we have a store trade payment option set up as a payment option. So instead of taking a return on an item during the sale, we accept a store credit as payment and then the balance on whatever tender they use. We then add the traded equipment into inventory.

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