Overview
The Qotrack Exchanges module is designed to simplify the process of swapping items for customers in a single, seamless transaction. Behind the scenes, the system securely manages all the necessary accounting, stock adjustments, and financial tracking automatically, ensuring that your inventory and ledgers remain perfectly balanced without requiring manual entry.
Where to Access the Exchanges Module
You can access the Exchanges module from the main navigation menu:
- Navigate to Sales in the main sidebar.
- Click on Exchanges to open the Exchanges Dashboard.
- Click the New Exchange button to start a new transaction.
How to Process an Exchange
Processing an exchange is done in three simple steps:
1. Locate the Original Transaction
When a customer wants to exchange an item, you must first link the exchange to their original purchase.
- Enter the original Invoice Number or Receipt Number into the search bar.
- The system will pull up the transaction details, including the customer's name, date of purchase, and the items they bought.
2. Select Items to Return
From the original transaction list, select the items the customer is bringing back.
- Specify the quantity being returned.
- Choose whether the returned items should be restocked (added back to your inventory) or written off (if they are damaged).
3. Add New Items
Next, add the new items the customer is taking in exchange.
- Use the item search or barcode scanner to add new products to the cart.
- The system will automatically calculate the price difference between the returned items and the new items.
Handling Price Differences
Once you have selected both the returned items and the new items, the system will display the Net Difference.
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If the Customer Owes You (Positive Balance): The new items cost more than the returned items. You will be prompted to select a payment method (e.g., Cash, Card, Mobile Money) to collect the remaining balance from the customer.
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If You Owe the Customer (Negative Balance): The returned items cost more than the new items. You will be prompted to select a refund action:
- Cash Refund: Give the customer their change immediately.
- Store Credit: Keep the balance on the customer's account so they can use it for a future purchase.
Financial and Inventory Impacts
When you click Complete Exchange, the system automatically performs several actions in the background to keep your books accurate:
- Credit Note Created: A Credit Note is generated for the returned items, logging the return in your sales history.
- Sales Receipt Created: A new Sales Receipt is generated for the new items the customer took.
- Inventory Adjusted:
- Returned items marked for restock are added back to your current branch's inventory.
- New items are deducted from your inventory.
- Ledger Balanced: The system links the value of the Credit Note to the new Sales Receipt. Any extra payments received are deposited into your selected Bank/Cash account, and any store credit given is logged as a liability.
Note: If a teller receives an amount greater than the required payment and gives physical change, the system strictly records only the net transaction total to your cash ledger, ensuring your daily cash reconciliation remains perfectly balanced.