Lay-by sales
A lay-by holds goods for a customer who pays in instalments. The goods are set aside but remain yours until the balance is cleared.Creating one
1
Open Inventory, then Sales, then Lay-by sales
Choose New lay-by.
2
Select the location
Where the goods are held.
3
Add the items
Item, quantity, unit and sale price for each line.
4
Set a due date
When the balance should be cleared. Have a policy for what happens if it is not.
5
Record the opening deposit
What the customer is paying today. It can be zero, though a deposit is normally wise.
6
Save
The lay-by is Active.
7
Set the goods aside physically
And label them with the lay-by reference.
Recording instalments
Open the lay-by and record each payment as it comes in, with the amount, the date and the method. The outstanding balance updates.Completing
1
Confirm the balance is zero
All instalments received.
2
Choose Complete
Stock is deducted at this point.
3
Hand over the goods
And give the customer a receipt.
Cancelling
If the customer does not complete, cancel the lay-by. No stock movement occurs, since none ever happened. Return the goods to normal sale. What happens to instalments already paid is a matter of your policy — set it out clearly when the lay-by is created, in writing, so there is no argument later.Lay-by statuses
Managing lay-bys
- Review actives weekly. Chase anything past its due date.
- Set realistic due dates. Ninety days is common.
- Label the goods. A lay-by item accidentally sold to someone else is a genuinely bad afternoon.
- Have a written cancellation policy. Especially about deposits.
- Remember they are not in your available stock. When you check whether you can fulfil an order.
Expenses
Operating costs recorded against a location — what it costs to run the place. Expenses never affect stock. They exist so your profit view can net them against sales.Recording one
1
Open Inventory, then Expenses
Choose New expense.
2
Select the location
Which shop or store the cost belongs to.
3
Choose a category
4
Enter the amount, date and description
Be specific in the description. “Generator repair — starter motor” beats “repairs”.
5
Record the payment method
Cash, mobile money, bank transfer or other.
6
Save
It appears in your expense list and in your profit view.
Reviewing expenses
Filter by location, category and date range. Look for:Keep the receipt for every expense. Upload it to your document vault
and reference it in the description. An expense without a receipt is difficult to defend.
Cash-outs
Money taken out of the till, recorded separately from expenses because the reasons differ and some need authorisation.Reasons
Recording one
1
Open Inventory, then Cash-outs
Choose New cash-out.
2
Choose the reason and enter the amount
With the date.
3
Describe it
What the money was actually for.
4
Record who authorised it
For anything beyond routine float. This is the control that makes cash-outs trustworthy.
5
Save
It appears in your till reconciliation.
Reconciling the till
1
Start with the opening float
What was in the drawer at the start.
2
Add the day's cash sales
From the sales list, cash only.
3
Subtract the day's cash-outs
Everything taken out.
4
Compare with what is physically in the drawer
Count it.
5
Investigate any difference
Usually an unrecorded cash-out, change given wrongly, or a sale rung up incorrectly.
Related: Point of sale and Insights.