Inventory Management Tips from Justin

Justin Ptasnik from our Implementation & Support team shares his tips for working with SOS Inventory:

There may be occasions in your business where a customer sends a product back and would like to receive credit for the item. There are various methods of creating the return in SOS Inventory. I have found that one of the easiest methods to create the Return is from the Shipment transaction. All you must do is go to the shipment list in SOS Inventory and click the action arrow near the edit button and choose “Create Return.” The saving of the Return will bring the item back into inventory and has the option of creating a Credit Memo for the customer in QuickBooks Online.

When you create a Customer Return, the “Restock Value” you see on the Return will determine the value of the item being brought back into inventory. When you create the Return from the Shipment transaction, this “Restock Value” is populated with the COGS value from the Shipment. This guarantees that the value of the item being returned on the Return is the same value that went out from the Shipment. Please take note that, when you create the Return from the Shipment, the “Credit Amount” is calculated using the standard sales price of the item. So if you sold the item for a different sales price, be sure to double check the credit amount.

In a similar fashion, you can create a Return to Vendor from an Item Receipt.

Hope this helps you improve your workflows and have less manual entry!