How to perform BuyBack?
Purpose:
A buy back claim typically refers to a process where a customer returns a product they previously purchased from a store, and in exchange, the store buys it from them. This could be due to various reasons, such as dissatisfaction with the product, a change in needs, or a desire to upgrade to a newer model.
Prerequisites:-
Go to Master → Tools → Master Configuration.
Click Edit in Item.
Under the Sales section, check off the checkbox under Visible for the Allow Buy Back attribute name.
4. Navigate to Master → Item → Add Item Under the Sales tab, select Yes from the Allow Buy Back dropdown.
There are three payment types on the Buy Back screen.
RRN
Cash
Coupon
5. Then click Tools → Configuration → Business Configuration, check to see if the Buyback entry mode configuration is set to "Adjustment".
I. How to claim a buy back, when the Maintain Inventory option is set to "No"?
When the Inventory Category status is set to "No", you can edit the item name in the Buy Back screen if the item preparation type was listed as an Open Item.
To do this, navigate to the Item Master screen. Then, under the Packing tab, the Preparation Status should be set to Open Item.
Steps to view the buy back on the Sales Bill screen
Then, open Sales → Sales Bill.
If you want to select the Payment Type as "RRN" then the customer details are mandatory, so select the customer details.
Click Shift +F12 --> Buy Back.
Now, the Buy Back screen will open.
If you select RRN as the payment type,RRN represents retrieval reference number. i.e replacement for the purchased item.
If you select the payment type as Cash, then you have to give Cash for the Buy back item.
If you select Payment type as Coupon, then you have to give a Coupon for the purchased item.
If RRN chosen, customer name is mandatory. For cash & Coupon, the customer name is not mandatory.
In the Buy back screen,If Maintain Inventory is chosen as No, then only items in the Item Master screen with a preparation status was Open Item and Allow Buy back set to Yes alone will be listed in the Buy back screen.
Click Item name.
Select the Item.
Enter the No.of Quantity, select the Reason for the Item return and enter the Remarks.
Select the collection type, whether the item "To be collected" or it was "Collected".
Click the Add Item button.
Click the Save button.
In Sales Bill Screen :-
Go to Sales → Sales Bill.
Enter the customer details which you selected in the buy back screen with "RRN" payment type.
Select the Item.
Click Save.
In the Tender screen, you can find RRN and click N.
Enter the adjustment amount.
Click Ok.
II. How to Claim Buy Back, when Maintain Inventory was "Yes"?
If Maintain Inventory is chosen as "Yes". Then, only the item which has the Allow buy back field should be "yes" only listed in the Buy back screen.
Then you have to choose Inventory Category as "Buy Back Scrap" or "Buy Back Refurbish".
Buy Back scrap means the item was returned to the manufacturer.Buy Back Refurbish means the item can be repaired & sold by the shop owner.
Buy Back Scrap & Buy Back Refurbish are two different inventory Classifications.If someone wants to sell the buy back item, they need to convert this BB item qty from these inventories to Trade, then only it can be billed.
5.Click on the Item name field.
6.Select the Item.
7.Enter the No.of Quantity.
8.BB price, which represents the selling price & moreover, you can able to edit the BB Price.
9.Select the reason for the Item return and enter the remarks.
10.Select the collection type, whether the item "To be collected" or it was "Collected".
11.Click the Add Item button and click the Save button.
How to sell the item if the item was converted to a buy back scrap?
To sell a buy back item, its quantity must first be converted from the Buy Back inventory to Trade inventory. Only then can it be billed.
Go to Inventory → Inventory Classification → Stock Conversion.
Select the Inventory From as Buy Back Scrap.
Select the Inventory To as Trade.
Select the Item.
Enter the quantity.
Click Save.
Once the item is converted to "Trade," you can sell the item.
In Sales Bill screen, create sales bill for the item.
Buy Back Claim Report
Once saved in the Sales Bill screen, check the details in the Buy Back Claim Report.
FAQ
Q1. How do I resolve the "Ledger code not found for the value: Consumable Ledger" error while doing the inventory classification?
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