Establish consignment discounts

You have a consignment store that deals mainly with household furniture and accessories. In order to move inventory, you want to implement a regular discount process for certain items. To do so, you might create a consignment discount that automatically applies a 10%, 20%, or 40% discount to items that have been unsold for 30 day increments. You can apply this discount to any category, such as dining sets. After 30 days, a 10% discount is automatically applied to the selling price, after 60 days, a 20% discount is applied, and after 90 days, a 40% discount is applied. The discount level and frequency is completely up to you and you can create as many discounts as you need. You might create separate discounts for bedroom sets, living room sets, and accessories, each discounting at a different rate.

The number(s) you enter in the Level 1 -4 Days/Months boxes begins after the Number of Days Before Discounts Start value is met. For example, assume the following is true: Discounts Start On Day is set to 1, Discount Periods Are is set to Day, Number of Days Before Discounts Start is set to 45, and Level 1 Days/Months is set to 30. If you receive an item on January 15, 45 days later is March 1. Because the value for Discount Start on Day is 1 (the first day of the month), Level 1 discounts begin on March 1. However, if you receive the inventory on January 16, the 45 days expires on March 2 which is after the value for Discounts Start On Day. In this case, the Level 1 discounts will begin during the next discount period on April 1.

1. On the Consignment Discounts window, click Add.
2. Enter a description for your discount level (up to 20 characters).
3. Use the table below for your next step.

If discounts should be automatically applied to consigned items based on...	Then...	And...
a specific day of the week or month,	enter the day of week (1-7) or day of the month (1-31) in the Discounts Start On Day box	select Week or Month in the Of The box.
how long it has been in your consigned inventory,	enter 0 in the Discounts Start On Day box	ignore the Of The box.

4. In the Discount Periods Are box, select Day to indicate you want discount levels calculated every X number of days or select Month to indicate you want discount levels calculated every X number of months.
5. In the Number Of Days Before Discount Start box, enter the number of days the item should be in your consigned inventory before discounts are applied.
6. In the Level 1 - Days/Months box, enter the number of days or months, based on your selection in step 5, after which discounts should begin.
7. In the Level 1 - Percent Discount box, enter the percentage of discount to apply to your consigned items after the specified number of days or months. Enter values as a decimal.
8. Repeat steps 6 and 7 up to three more times, if desired.
9. Click Save.
10. Repeat steps 1-9 as many times as necessary.
11. On the Maintenance menu, point to Inventory Maintenance and click Maintain Inventory Categories. The Inventory Categories window displays.
12. In the Category grid, select a category to which you want to assign a consignment discount (when you enter consigned items with this category, the discount will be automatically applied).
13. In the Consignment Discount box, select the discount you want to apply to the category.
14. Click Save.

1. On the Consignment Discounts window, select the consignment discount you want to change or remove in the Description grid.
2. Edit the details about the discount as necessary and click Save or click Delete to remove it.