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Senior Explorer *

Capturing Promotional Giveaway in QB

I have a small biltong (South African-style jerky) buisness and will often give away bags of product to prospective customers to taste-test and help spread the good word.  What's the best way to capture this in QB?  $0 invoices to each customer?  Invoices to a single "Promotions" customer?

 

Looking for recomendations on how others do it.  Thanks!

Solved
Best answer 04-01-2018

Accepted Solutions
Senior Explorer *

Re: Capturing Promotional Giveaway in QB

Thanks @Rustler for the suggestion - only issue is that I don't use QB to track inventory because I don't keep inventory.  I make the biltong every month in accordance to how many orders I've received, adding a little more to account for samples and giveaways.

 

What do you think?

 

 

View solution in original post

8 Comments
Established Community Backer ***

Re: Capturing Promotional Giveaway in QB

Depends


If the sample is included in a sale, list the item, qty and a zero sales price.


If the sample is over the counter, use inventory adjust, set the adjusting account to promotion or sample expense, and lower the qty.

Senior Explorer *

Re: Capturing Promotional Giveaway in QB

Thanks @Rustler for the suggestion - only issue is that I don't use QB to track inventory because I don't keep inventory.  I make the biltong every month in accordance to how many orders I've received, adding a little more to account for samples and giveaways.

 

What do you think?

 

 

View solution in original post

Established Community Backer ***

Re: Capturing Promotional Giveaway in QB

In that case there is nothing to do really, I expect you are expensing the raw material when you buy it, so what you sell and what you give away is already an expense.

Anonymous
Not applicable

Re: Capturing Promotional Giveaway in QB

@KeeganE

 

Are you tracking these as a marketing expense? In addition to the giveaway, do you ever plan to use these same products as a good-will gesture to go along with purchases? Might be good to track these separately. 

 

Also, I'm curious what South African style jerky is all about :). 

 

Senior Explorer *

Re: Capturing Promotional Giveaway in QB

@Anonymous - I capture them as expenses on the front-end as COGS.  What I ended up doing was creating $0 products called "Promo - product name" and add them to invoices for the "customers" who have recieved a free bag of biltong.  I want to be able to track how much I'm giving away and to whom so I figured this was the best way.  I'm able to do this by running the Sales by Product/Service Summary report.

 

Biltong is good stuff, most akin to jerky but cured and hang-dried similar to prosciutto.  At the risk of violating the user guidlines, I'd encourage you give it a google or check out my first-go at a website in my profile.  Definitly a unique product!

 

 

Anonymous
Not applicable

Re: Capturing Promotional Giveaway in QB

Hey @KeeganE,

 

Another member gave me this feedback to your question - 

 

"I suggest setting up a Other Current Liability account, and as you present your giveaway (assuming it has a dollar value), you would post this dollar value as a credit to this liability account (something that you will owe in the future) and as the giveaway is redeemed, you post a debit to this account to reduce the balance of the liability account. When making these entries, if you create a log of the giveways, use numbers to identify the giveaway, then you can keep track of how many you gave away, and how many have been redeemed.   I hope I've answered your question."

Not applicable

Re: Capturing Promotional Giveaway in QB

Thanks for clearing it up.

Anonymous
Not applicable

Re: Capturing Promotional Giveaway in QB

@rachelwilson, are you also running a promo with your brand? 

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