4 for 3 Promotion (Purchasing & Selling)
From time to time Suppliers will offer a promotional campaign for consumers to purchase three tyres and get the fourth tyre at no
cost (FREE!).
This document outlines the setup and
operational procedures that should be followed so you properly account for the sales; reduced cost on the supplier account and ultimately the TRUE cost of the
advertising and promotional campaign to your business.
To correctly and easily account for the Sales
& Credits related to this promotional campaign, you need to have a Special
Item setup in COSTAR.
- Select
Inventory >> Special Item Maintenance
- Click
Add New
- Enter
the code of 443
- Enter
the Description of Four for three promotion
- Leave
the Price at 0.00
- Set
the Sales GL to your Expenses code for Promotional Items (e.g. 42001). Note that if
you are a multi-branch business, please check with Microhouse Support to ensure this is setup correctly.
This Inventory MUST be receipted as per normal and any difference in cost will be accounted for at this time using the 443 Special Item code.
- Select Purchasing >> Purchase Orders
- Create a PO as per normal
- Receipt the Inventory at the Standard Cost
- Enter the new 443 Special Item on the Purchase Order
- Set the Order Qty to -1
- Set the Receipt Qty to -1
- Set the Supplier Cost to the Standard Cost you have for the Tyre.
- Enter the Invoice details and then Receipt the PO.
Put simply, these are normal Sales, with the
exception that you are offering the customer a ‘Discount’ of 100% of the value
of 1 of the tyres.
Generate your customer Repair Order as per
normal, adding all of the products and services, then at the end of the Repair
Order enter the Special Item ‘443’. (This will look very similar to how you prepared the Purchase Order.)
Set the Qty to -1 and set the Selling Price to the
amount based on the selling price of the tyres that your are selling (see below)
- Select
Order Entry >> Repair Orders
- Enter
the items you are selling as per your normal sales process
- Enter
the Special Item 443 and set the Qty set to -1
- Set
the Selling Price to the value of 1
of the tyres sold (see below)
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