Buy Outright

Store owners can increase sales revenue by implementing a variety of sales types: consignments, credit purchases, layaways, rentals and 'resale' (or 'Buy Outright').

To 'Buy Outright' means to purchase items and resell them. In BCSS, sellers of items will be handled as 'consignors'. Create a Consignor Record for each seller to track items bought from them and payments made to them.

Enter Buy-Outright Items

1. Select a Consignor (as seller) and press F3 to open the New Inventory Screen. (If the Seller is not listed, add a new Consignor Record for the Seller first.)

2. The Consignor ID and next Item Number will be auto-entered. Enter information about the Item (Description, Details, Quantity, (Store) Location...)

3. Check 'Buy This Item Outright'. A 'Buying Price' field will appear and the Consignor % (upper right) will close (not needed).

4. Enter the 'Buying Price'

5. Enter the 'Selling Price' for the item (upper right) and click Ok to save. The item will be listed in the Inventory Work Area Table and in the Consignor's Items List (at the bottom of the screen, when the Consignor is selected).

6. To pay the seller, select him/her from the List of Consignors and select Settlement from the Quick List Menu:

7. Select the item being purchased.

8. Enter the amount of payment and the payment method:

9. Use Save and Exit or Save, Print, Exit

10. See About Checks for instructions on printing a check.

Buy Outright Accounting

BCSS is a 'Consignment Software Program'. As such it processes buy-outright transactions as consignments by adjusting the Consignor %.

When the Buying and Selling Prices are entered for a buy-outright item, BCSS computes (in the background) what the Consignor % would have been if the transaction had been a consignment. This is necessary to make computations correct in BCSS records, but it's not necessary for the user to know more about this process.

For information purposes, this 'Computed Consignor %' is displayed in the Item's Details. (Go to Inventory, select the Item and view the % at the bottom.) This entry cannot be edited.