Handling trade-ins
If your business accepts trade-ins, you can accurately record your trade-in sales using MYOB AccountEdge.
Start by creating customer and vendor cards for your trade-in customer. Then create a special inventory item called "Trade-in' (To add a new item) You can use this item to decrease the amount due from the customer for the sale to which the trade-in will be applied.
Next, create a special detail checking account to purchase the trade-in item. [To add an account] Finally, process both the customer's sale and your purchase of the trade-in item. (To sell items to a customer and To buy items from a vendor)
The result will be that the customer's invoice will be reduced by the amount of the trade-in. Your purchase of the customer's item will be fully paid, and the trade-in will be entered into your inventory. See Trade-in Example: Music Store Sale for a detailed example of how to process a trade-in sale.