21 Sep 2023 | Windward Software
Discount as an Inventory Item
The webinar was presented as a discussion about the utilization of ‘Discount as an Inventory Item’ feature in Windward System Five.
Ivory was the moderator of the webinar, initiated the discussion by giving an overview, explaining how users can post their concerns or ask questions via the question box, and mentioning the availability of past webinar presentations on www.windwardsoftware.com/webinars.
Abby, the presenter, elucidated the topic of discussion 'Discount as an Inventory Item'. She explained the creation of a dollar volume discount as an inventory item. She spoke about the three discount methods- Price adjustment, Ledger code, and Discount item.
Abby demonstrated the creation of a subcategory for the discount, providing an expense ledger number, for the income and cost offsets category then creating a discount item under that subcategory.
She conducted a live demo of setting the 'Discount as an Inventory Item', during which she explained how to create a new subcategory for discounts, assigned a part number to the non-inventory subcategory, and using the discount item in promotion option. She concluded with an example of how the discount works when certain conditions are met and how the discount posts to the expense ledger.
One query raised by Lana from Beach Comber was about whether this feature works with percentages instead of dollar values. Abby was unsure and said she'd have to check and get back to her.
The webinar included other specific information about how to access webinars, the company's help center, customer care portal, and how to submit an emergency ticket or get guidance from a Professional Service Specialist.
Ivory ended the event by inviting participants to the next webinar scheduled for October 5th, all about methods of taking payments in an account.
0:02
Hello. And good afternoon, everybody. Thank you for joining our webinar for today. My name is Ivory, and I will be your moderator for today's presentation.
0:12
At the end of scrubbers.
0:14
We will take some of your questions You may want to enter them into the question box.
0:19
But be sure to me to put the questions in details and specific. Just think he's a question is coming from something that we need to go over at the start of the presentation.
0:32
That way, we'll be able to meet to know exactly what you're talking about.
0:37
Any questions that we can't answer today, we'll answer them offline afterwards.
0:41
Or you can create and track a ticket on our Portal ad support that winward software dot com and support can be able to help you out with those questions.
0:52
And also, now you can access past Webinar presentations and our website.
0:57
All of presentations are in there at WWW dot ... software dot com slash webinars.
1:04
For today's presentation, we're going to be discussing Discount as an Inventory Item. This is a great topic for sure. And our speaker for today is Abby. She's one of the 10 years software Specialists with one word, and she's with a company for almost or for over four years now. So let's get started. Take it away, Abby.
1:27
Ivory, hello, everybody. Good afternoon.
1:30
Oh, yes, today's Webinar, we're gonna talk about discount as an inventory item.
1:37
So basically, this webinar will discuss how to create a dollar volume discount as an inventory item.
1:46
So, the promotion feature has three discount methods.
1:52
Price adjustment, ledger code, and discount item. So, this is our topic for today.
1:59
In the price adjustment, the price an invoice is adjusted and a ledger code method.
2:08
The discount amount is added as a jail code on the invoice.
2:13
And at this, and in the discount method, the discount is added as a miscellaneous discount part.
2:22
So, if you want this option, you need to create a subcategory first, there is a non inventory type in the category setup for that Scott item.
2:35
And provide an expense leger number, for the income and cost offsets category.
2:42
Prefer that discount item, and then create the discount item, under, that is under the sub category, that you have graded for it.
2:52
So, that is under inventory and purchases Inventory, and then you item, Then one is Dan setting that up.
3:03
You then go to the option of the propulsion, part of your promotion rule and reward rule.
3:12
Then since you cannot type it in search box, you have to click this little box here, to pull up apart by a window to select that out discount item or not inventory item for that discount.
3:32
So at this moment, I'm gonna pull up my demo, too.
3:37
Oh, shall you?
3:39
How to set this up?
3:42
So, again, we need to set up or create a new subcategory for that discount, just need to go to Setup Chores.
3:53
Configuration Category Setup.
4:00
And I'm gonna add a subcategory and the MCO's main category, and I've already added it.
4:09
So, basically, just E to light.
4:15
Click that line there and then click Yes and it will add a new category, or subcategory Yeah, great.
4:24
Well, this, then have to make sure that it is a non inventory type.
4:33
And for the income and costs, since this is an argument oriented, should be Enter expense account, so you can click here directly the expense leger in this demonstration I I faded 60 to 70 leisure number, and I also put that to Saint Leger. Number.
5:00
two cos H will be just an in and out and once done, it just need to hit this button, create ledger Numbers, so that 60 to 70 or an expense ledger will be created automatically in the Chart of Accounts.
5:14
So do not forget to Ah, it does.
5:20
All right.
5:21
Then once Dan.
5:27
O H.
5:30
That's done.
5:33
Ken, beneath that?
5:37
Sure.
5:39
Because, by default, it will this symbol name, as.
5:46
So, you can.
5:50
All that does.
5:59
I already rename it as a disk op, but by default, it says income and the Scott, so just add it.
6:10
And rename it in this description field.
6:15
Then just click to Save it.
6:23
Then, after that, became, then, trade in Part Number for the discount item.
6:31
So, under inventory and purchases, new item, and select the masumi's main category.
6:42
And that scalped, subcategory, that is just the subcategory created for the discount item.
6:53
Then, you can then add the part number, or you're, sorry, part number for the discount item. And I've already created that one. I've gotta pull that up.
7:10
Discount, Sorry.
7:21
So, once you assign this part number to the non inventory subcategory, it will then be showing none carnivale either at this site.
7:38
OK, with zero cost, Now, once you're done creating that discount item, now, We can now use that option.
7:51
That promotion, soul.
7:53
I'm going afraid and new promotion.
7:55
We're here.
8:04
OK, and go to the Options tab and select, Oh, sorry.
8:09
Let me like that.
8:15
Oh, that should be my quantity.
8:18
And then select the discount item.
8:23
Select this little box.
8:27
This will pull up and then select the discount.
8:36
Click OK.
8:42
So for our promotion rule, can I set this up number of items.
8:50
That would be three and reward your wiki to dollar discount, let's say 10.
9:01
Well, if my customer buys at least three items.
9:07
so they will get $10 discount. Now, let's test this out.
9:14
I'm going to trade new invoice or new sail.
9:20
Snake cash?
9:25
Yeah, OK.
9:58
Let me double check if I have selected a category or subcategory for this promotion.
10:10
After you set this up, the way you want to, like like all categories, are just sit categories or subcategories. So, just need to double click this.
10:21
I can and then you have the option to select, just select at once.
10:27
So, for each demonstration, I'm going to select this category.
10:34
So, that includes the subcategories for this category, OK, and you can also just ah how or act like selected ah items or inventory items from different categories.
10:51
So you have to manually add them, OK?
11:02
Now, let's add some items.
11:12
That's that.
11:18
So, I'm gonna add three items.
11:33
OK, so, I added three items.
11:36
And it then shows at the discount, which is at $10, $10 discount.
11:44
So, if I add another three.
11:51
Or let's say the customer buys three items.
11:54
So, that would shell a total of Punchy Bell alerts as well as the discount.
12:03
I'm sorry. SEC.
12:07
At U bar.
12:28
So at least three, if you can see if your customer buys at least three items, he or she will get $10 discount.
12:37
And I'll show you the back end here.
12:51
So, it's showing up here at a separate, ah, for each three items. It shows $10 discount. And yeah, there's three I chose.
13:04
How can that dollar discount they post it to the expense ledger 60 to 70.
13:13
Let's say, I'll show you, Chair, report 60 to 70.
13:18
Let's just, let's Great!
13:28
I'll go to the Ports Ledger Report.
13:33
Turn dashes by number.
13:39
62%.
13:50
So, as you can see here, it posted to seven.
13:55
This is the ledger Report for the CCC 70.
13:59
And it shows two lines as, it shows, separate lines in the back end of the invoice.
14:09
So, all right.
14:11
I guess that would be end of my presentation. If you have clarifications or questions. You may drop it on the question box now.
14:27
Thank You Abby. Thanks for that presentation again.
14:31
We're now open for the questions and answer and we'll probably you're trying to type in your questions, I've been, do you wanted to add some of the details that you need to discuss.
14:43
Yeah, sure, OK, that's my presentation.
14:53
OK, so while we're waiting for questions, I'm gonna show you I'm gonna share this webinar archive.
15:03
You can sign up for future webinars. The previously recorded recorded events.
15:09
Just go to windward software dot com slash webinars and we're our resources. It is available in the Help Center.
15:20
So, all of all available resources are listed here so just go to wind or shelter dot com slash help and when, if you want to search our knowledge base, submit and track support tickets, you can go to support dot ... dot com or the Customer Care Portal.
15:41
And if you'll want to spin up you employees, lesson based topics, just go to Academy Dot when Award on cloud dot com.
15:50
And if you get an entire system down unable to take payment, cannot, login to system file or recovering from a power outage, you are qualified to submit an emergency ticket just submitted in windows software dot com slash emergency.
16:09
And if you want to get guidance from one of our Professional Service Specialist, working with some integrity or accounting rule based plan, just contact your Account Manager for colt.
16:20
Or, simply, go to win her software dot com slash professional services OK, that would the AWL.
16:34
OK, thanks, Abby.
16:36
Yeah, I'm not still, ah, see some of the, I don't see any questions as of the moment while, Um.
16:45
While we're waiting for some of the people to ask questions like this opportunity, I'd like to take us to invite everyone for our next webinar, which is going to be on, uh.
17:03
Aye.
17:05
October two or, sorry, october fifth of, the issue is, or the topic is about methods of taking payments. An account, so, yeah, if you're interested in Joining the webinar, that will be great. And, again, that's going to be on October fifth at one PM Pacific time topic is about methods of taking payments on account, which is also another topic.
17:31
OK, we do have one question here, Anna.
17:36
Let's see.
17:38
And, this is a question about, Can this be used as a percentage instead of a dollar value.
17:47
Yes. Ah.
17:50
Michelle!
18:11
Oh demon the reward rule.
18:16
Selection Ment, percentage discount.
18:22
I'm not sure if this is possible, but let's try. So I'm gonna change this to percentage discount.
18:30
Now let's see what happened.
18:39
OK?
18:45
So Persian, just count 10%.
19:09
OK, Great.
19:29
She.
19:36
It worked.
19:39
Oh, did I?
19:46
So by 3 1 S.
19:50
Oh, dole.
19:52
It resulted to have this president, this discount in each aida.
20:05
Sir?
20:19
Yeah, And it should not be, may be. This is not Compatible, that's why it's behaving this way.
20:36
OK, I'm gonna, I'll, We'll check this and I'll get back to you. Oh, is there any? Sorry.
20:47
Our company is from my Beach Comer.
20:52
Hitchcock.
20:53
Yeah, I'll check this further on my end, and, I mean, on my reference, and get back to you that, OK, yeah, Well, you are sorry for the beach coming home. And I will be able to tell us, who is the conduct person, so I can be able to address this issue specifically.
21:18
It's Lanta Lana from each, ******, yes, thanks Lana. And yes, Abby will check on it, and we'll get back to you.
21:27
Any more other questions for the rest of our attendees?
21:33
I still have few minutes to cater to them.
21:36
Again for the people that just came and would like to take this opportunity to invite you for our next webinar which is on October fifth, the topic is about methods of taking payments on account. So if you're interested, please come and join us again on our next webinar.
21:57
I think Ah there is no other question of soft fur for, for us, Abby. Thank you again everyone for joining us for our webinar for today, and hope to see you guys again next webinar.
22:12
Good night. Thanks.
22:14
Never lie, and have a good day.
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