Understanding Trade Credits
Understanding Trade Credits
Trade credits are store credit balances that customers build up by trading in firearms. When a customer trades in a gun, you agree on a dollar value, and that amount is added to the customer's trade credit balance. They can then use that credit toward future purchases at your shop.
How Trade Credits Are Tracked
CloudFFL uses two related records to manage trade credits:
- Customer Credits (
trade.history) — Shows each customer's current trade credit balance. Think of this as the customer's "account balance." - Transactions (
trade.history.line) — Shows every individual transaction: credits added (from trade-ins) and credits used (applied to sales). Think of this as the "transaction history."
Where to Find Trade Credits
- Customer balances: Go to FastBound → Trade Credits → Customer Credits. This shows a list of customers with trade credit, along with their current balance.
- Transaction history: Go to FastBound → Trade Credits → Transactions. This shows every credit added and every credit used, with dates and amounts.
How Credits Are Added
Credits are added automatically when you process a trade-in through FastBound → Acquisitions → Trade-In. You do not need to manually create trade credit entries. The trade-in value you enter on the trade-in form becomes the credit amount.
How Credits Are Used
Credits are applied to sales orders using the Trade Discount Wizard. When a customer with trade credit makes a purchase, you can apply some or all of their balance as a discount on the sales order. The next page covers this process in detail.
Example: Tracking a Customer's Credits
Here is how trade credits might look for a customer named Sarah Williams:
| Date | Type | Description | Amount | Balance |
|---|---|---|---|---|
| Jan 15 | Credit Added | Trade-in: Remington 870 Express | +$250.00 | $250.00 |
| Feb 3 | Credit Used | Applied to SO#1042 (Glock 43X purchase) | -$200.00 | $50.00 |
| Mar 10 | Credit Added | Trade-in: Taurus G3c | +$175.00 | $225.00 |
Sarah currently has $225.00 in trade credit available for her next purchase.
Tip: You can quickly check any customer's trade credit balance before starting a sale. Just go to FastBound → Trade Credits → Customer Credits and search for their name. This helps you let the customer know what they have available.
Note: Trade credits are store credit only. They cannot be cashed out or refunded as money. They can only be applied toward future purchases at your shop. Make sure your customers understand this at the time of trade-in.
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