Entering Free Inventory
AnsweredI was wondering how to handle products that are given away by my director or at seminar.
thank you
-
Official comment
If you're planning to use it for yourself, you actually don't need to enter the free product into Boulevard at all. If you are planning on selling it, all you need to do is Edit the Physical Count for each free item and enter the wholesale value as $0.00.
-
Thank you!
0 -
If we are entering the free product's wholesale value at $0.00 will the retail cost of the product show on the client's invoice? Thankyou!
0 -
Boulevard uses the FIFO (first in, first out) method. If you plan on selling the complimentary items received at a conference, you'll want to edit the physical count or create an inventory order with a 100% discount. Boulevard will deduct from the oldest stock in your inventory, which will not alter the retail amount displayed to the customer. Please let us know if we can clarify further!
0 -
Thank you for your response Kelli. If I created an inventory order with 100% discount for the complimentary products will that affect the totals on my Mary Kay GST/PST rebate? I do intend on selling them. Thank-you
Ali
0 -
Hi Ali,
Creating an inventory product order and setting the discount to 100% is exactly how you can handle those products if you intend to sell them. It will also ensure that your tax reports accurately reflect the cost of the goods on hand.
0
Please sign in to leave a comment.
Comments
6 comments