Whats the difference between Sales Orders, Layaways and Quotes?
These are all different types of transactions which represent potential sales, as opposed to Invoices. You might think of a Quote as a means of recording prices you’ve promised to a customer. Quotes do not affect your inventory in any way, nor can payments be accepted on a Quote. Sales Orders and Layaways; however, are more like promises from customers that they intend to buy certain items. When you enter an Order or a Layaway, the system does allocate items (i.e., QOH is reduced and Allocated/Layaway quantities are increased). Although, not required by the system, the customer may provide a partial payment (deposit) in exchange for the store setting aside inventory. Technically, such a deposit payment is sort of a loan from the customer and is therefore a liability on your accounting records. A Sales Order is typically used when inventory is not currently available; however, it can also be used for other special purposes such as work orders. When items on a Sales Order are shipped, an
