Items
On the Items subtab of a new sales custom transaction instance, you can sell items, decrease stock levels for inventory, and calculate COGS. You can apply Promotions, Discounts, and Revenue Recognition, as well as sell Gift Certificates, and more. For more information, see Sales and Purchase Functionality Available in Custom Transactions.
For more information about creating a new sales custom transaction instance, see Creating Sales and Purchase Custom Transaction Instances.
Complete the following steps as needed:
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Click the Items subtab.
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Add an item to the sales transaction.
See the following sections:
Promotions
The Promotion and Coupon fields appear on the Items subtab only if SuitePromotions is not enabled. For information about adding promotions using SuitePromotions, see SuitePromotions.
To apply a promotion, in the Coupon Code field or the Promotion field, enter a valid code. The remaining Coupon Code or Promotion field fills in automatically. If applicable, the Discount Item and Rate fields fill in automatically, because they are set up during promotion creation as a flat rate or a percentage. For more information, see Discounts.
Depending on the promotion setup, one of the following occurs:
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The promotion discount is calculated automatically. The Discount Item line in the Summary on the upper right corner of the page shows the promotion discount amount.
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The promotion is not calculated automatically. Click Calculate . The Discount Item line in the Summary on the upper right corner of the page shows the promotion discount amount.
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The promotion is added as a separate line item. The amount is deducted directly from the Subtotal line in the Summary on the upper right corner of the page.
For more information, see Review or Create a Discount Item.
For more information, see Promotions.
Discounts
You can apply discounts in the following ways:
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Automatically – Discount items and rates are set up during the promotion creation as a flat rate or a percentage. If they apply to the sales transaction, they are automatically added to the Discount Item and Rate fields. You can optionally change these entries. The Discount Item line in the Summary on the upper right corner of the page shows the promotion discount amount.
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On the Item line – After adding an item line, create a discount item code or select an existing code. This discount is applied to the item. The Rate and Amount and fields may fill in automatically. You can change these entries.
When you apply a line item discount, the discount appears as a separate line item. The amount is deducted directly from the Subtotal in the Summary on the upper right corner of the page instead of appearing as a discount on the Discount Item line.
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On the Items subtab, when SuitePromotions is enabled – In the Discount Item field, select a discount item. The Rate field is filled in automatically. The Discount Item line in the Summary on the upper right corner of the page shows the promotion discount amount.
It is possible to apply discounts using both the line item discount and the overall order discount on the same sales transaction. If you apply discounts on line items and on the overall order, two discounts are applied. The discount on the individual item is applied first and then the overall Discount Item field discount is applied to the remaining balance owing.
For more information, see Review or Create a Discount Item.
Gift Certificates
Gift certificate items enable customers to purchase store credit that they can send to someone as a gift. To sell a gift certificate, you add the gift certificate as an item on a sales transaction.
To sell a gift certificate:
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Enter a gift certificate item or select one from the list.
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In the Amount field, enter the gift certificate amount.
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Select the Gift Certificate field. In the popup window, enter details in the From, Recipient Name, Recipient Email, and Gift Message fields.
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Click Save.
After you sell a gift certificate, you can apply it to a sales transaction. For more information about applying a gift certificate, see Gift Certificates on the Billing subtab.
For more information, see Gift Certificates.
Revenue Recognition
Revenue recognition features enable you to defer revenue for recognition in multiple future time periods. You can add a revenue recognition schedule on the item line, as described in the following procedure. For more information, see Revenue Recognition and Editing a Revenue Recognition Schedule.
If enabled, the system uses Advanced Revenue Management (Essentials).
To add a revenue recognition schedule:
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On the item line, in the Rev. Rec. Schedule field, select an existing schedule to use. If you want to create a new schedule, click New. For more information, see Defining a Revenue Recognition Template
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If promoted, enter the start and end dates in the Rev. Rec. Start Date and Rev. Rec. End Date fields.
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Save the transaction.
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Under Rev. Rec. Schedule, a schedule link replaces the template name. To open the Revenue Recognition Schedule page to see how the amounts will be split, click the link.
When you select an item and click the open icon, a page opens. The title of the page is based on the item or noninventory item you selected. On the Revenue Recognition/Amortization subtab, configure advanced revenue recognition. For more information, see Revenue and Expense Recognition Overview.
Advanced Revenue Management (Essentials)
Advanced Revenue Management (Essentials) automates revenue forecasting, recognition, reclassification, deferral, and auditing through a rule-based event handling framework. If Advanced Revenue Management (Essentials) is enabled, you don’t enter anything at the transaction. Revenue elements and arrangements are automatically created for the custom transaction when you next run Update Revenue Arrangements and Revenue Recognition Plans. For more information, see Setup for Advanced Revenue Management (Essentials).
Advanced Revenue Management (Revenue Allocation)
The Advanced Revenue Management (Revenue Allocation) is an add-on feature to Advanced Revenue Management (Essentials). This feature supports the use of fair value pricing, range checking, and fair value formulas to allocate revenue across several performance obligations.
Advanced Revenue Management (Revenue Allocation) supports fair values based on the method of your choice. You can use standalone selling price (SSP), vendor-specific objective evidence (VSOE), best estimate of selling price (ESP), third party evidence (TPE), or some other method. These fair values are used to determine the revenue allocation ratios for multi-element transactions. For more information, see Setup for Advanced Revenue Management (Revenue Allocation).
Apply
The Apply subtab is available only for sales credit transactions.
On a sales custom credit transaction, you can apply a transformed custom transaction to the source transaction. To apply a credit transaction to the source transaction, check the Apply box beside the debit transaction you want to apply the credit to.
The Apply subtab has the same fields as the Apply subtab for credit memo and displays the same set of transactions. For more information see Applying a Customer Credit Memo.