Layaway Plan

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Layaway Plan

 

Layaway Plan

Layaway is a system where the customer gives the store a deposit on product(s), which is held until a later date when the customer completes payment in full or through installments. In iVend, in order to layaway a product from POS, a layaway plan needs to be setup first.

This feature enables the user to setup layaway plans that can be attached to the products. The default number of installments and the installment amount to be paid and the period over which the installments need to be distributed is calculated on the basis of the layaway plan attached to the product.

To open the window, choose Operations > Inventory > Layaway Plan.

Search Screen

Field

Description/Activity

Search Criteria

Code

Enter the code of the layaway plan to be searched.

Description

Enter the description of the layaway plan(s) to be searched.

Search Results

Code

Displays the code of the layaway plan(s) searched.

Description

Displays the description of the layaway plan(s) searched.

Active

Indicator of whether the promotion is active or not

Subsidiary

Displays the Subsidiary of the layaway plan searched.(If Subsidiary is enabled)

 

Setup Screen

Field

Description/Activity

Header Column

Code

Enter the code for the layaway plan. A numeric value needs to be entered as the code.

Description

Enter the description for the layaway plan. A description of maximum 100 alphanumeric characters can be entered.

Active

Select this option to make the layaway plan available to be applied on layaway transactions.

Installment Count

Enter the default installment count to be applied on the transaction.

Min Installment Count

Enter the minimum number of installments required in the plan. The user at the POS cannot enter an installment count lesser than the number specified here.

Max Installment Count

Enter the maximum number of installments that can be specified in the plan. The user at the POS cannot enter an installment count more than the number specified here.

Duration Type

Specify the periodicity of the installments from the following available values:

Weekly

Monthly

Quarterly

Half Yearly

Yearly

Duration

Installment Duration

This field is enabled only if the “Duration Type” specified is “Duration”. Enter the number of days after which the layaway installment becomes due from the customer.

First Installment Due(In Days)

Enter the number of days from the date of transaction when the first installment would be due

Inventory Allocation Method

Specify whether the inventory would get affected immediately on sale or on the delivery of the product after full payment is received from the customer.

Deposit Type

Specify if the deposit to be taken from the customer will be a percentage of the product price or a fixed amount

Deposit

Enter the fixed amount or the percentage of the product price to be taken from the customer as deposit depending on the “deposit type” selected.

Subsidiary

Select a Subsidiary to which the layaway plan belongs from the list of Subsidiaries.  Click [...] to open the Subsidiary Search screen and select the Subsidiary.

Detail  Column

Product

Displays the code and description of the product to which the layaway plan is applied by default. The user at POS can however change the layaway plan if required.

Installment Count

Enter the installment count to be applied on the layaway transaction for the product. If left blank, the value specified at the header level is picked.

Deposit Type

Specify if the deposit to be taken from the customer will be a percentage of the product price or a fixed amount. If left blank, the value specified at the header level is picked.

Deposit

Enter the fixed amount or the percentage of the product price to be taken from the customer as deposit depending on the “deposit type” selected. If left blank, the value specified at the header level is picked.

Add Product

The button enables to add a product to the layaway plan.

Click the button to display the “Product Search” Screen and select the product.

The products with “Can Layaway” option enabled in the “Product” Screen can only be added to the Layaway Plan(s).

Delete Product

The button enables to delete the product added to the layaway plan.

To delete a product, the user selects the row of the product to be deleted and clicks the button.

Surcharge

The button enables the user to attach a surcharge or delete the surcharge added to the layaway plan.

The Surcharge Screen is displayed on clicking the button.

OK

The button updates changes to the database and closes the screen.

Cancel

The button does not save any changes and closes the screen.


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