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HOW TO DO A PRICE ADJUSTMENT ON A PAID TICKET

Article ID: 95
Last updated: 11 Jan, 2016

Problem:
There is no problem changing the price on a closed ticket. But, sometimes you have to give a customer a price adjustment on a ticket that has already been paid. If it isn’t feasible to simply void the payment and fix the original ticket, then you will have to make a new ticket for the price adjustment. The challenge is to make a ticket for the price adjustment and associate the added cost with the inventory item without changing the weight purchased.

Here is how it is done:

  1. In Scrap Buying, make a new ticket for the customer.
  2. On the first line, select the original commodity, at the original price, but enter the original NET weight as the TARE weight. This will create a negative line that ‘reverses’ the line on the original ticket.
  3. On the second line, select the original commodity, at the REVISED price, and enter the original NET weight as the GROSS weight. This will create a positive line that ‘replaces’ the line on the original ticket.
  4. Close and pay the ticket as usual.

The weights on this ticket will wash out and the difference in the extended line amounts will be the price adjustment.

Example:
You paid $250 for a ticket for 10,000 lbs of Steel at $50 per net ton. You need to adjust the price to $55 per net ton, but the check has been cashed so it is impossible to void the payment and fix the ticket price.
Make a new ticket for the customer.
On the first line, Commodity=Steel, Tare=10,000 lbs, Price=$50/NT. The extended amount will be -$250.00.
On the second line, Commodity=Steel, Gross=10,000lbs, Price=$55/NT. The extended amount will be $275.00.
Close the ticket. This will create a payable of $25.00 for the customer. The weight purchased will not change. The total value of the Steel inventory will increase by $25.00.

Article ID: 95
Last updated: 11 Jan, 2016
Revision: 1
Views: 2
Comments: 0
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HOW TO DO A CUSTOMER ADVANCE     HOW TO DO CUSTOMER PRICE QUOTES