Glossary

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Barcoded Labels
Refers to the pricing labels used for specific merchandise where tags are no usually feasible or easily applied. These tags are automatically created by all of Resalebay's programs at inventory acquisition time.
Barcoded Tags
Refers to the pricing tags used for clothing and other specific merchandise. These tags are automatically created by all of Resalebay's programs at inventory acquisition time.
Buy Outright
A preferred phrase or termininology used by the resale, consignment and thrift industry to describe the acquisition of previously owned merchandise from consumers for the purpose of reselling to other consumers.
buyback
A description or term used for specific inventory items that are purchased by a resale store for short term retailing to customers with an option to buy the item back from the customer within a specified time and for a pre-arranged percentage of the original price.
Consignment
Consignment is the name used within the retail industry that describes the sale of goods by retail establishments of merchandise that has been received on a good faith basis, from consumers or vendors that will accept payment for their goods when the item is actually sold to another consumer.
Consignor Net Split
This is usually a pre-agreed percentage amount of money that a consignor receives from the final sale price of thsir consigned goods when sold. Normal entry format is "50.00" for fifty percent.
Debit Card
An ATM bankcard, also called a check card, allows a merchant to deduct money directly from a customer's bank account. Debit cards issued with a Visa or MasterCard logo are accepted by any merchant that also accepts Visa or MasterCard credit cards.
Discounts
Description of the amount of money by which retail prices or transaction totals are reduced at sale time. Discounts are offered as a percentage of the retail price or as a reduced price lower than the listed retail.
Layaway
A layaway is a specific shopping method whereby a store allows customers to make downpayments on items and complete the the sale when payment for the items on layaway are received in full.
Merchant Account
A written, commercial bank account established by contractual agreement between your business and a bank. The agreement contains the respective rights, warranties, and duties with respect to accepting the bankcard (i.e. Visa or MasterCard). You must apply for this account much like you would apply for a commercial loan.
Mixmatch
Mixmatch is the term use to describe the feature in Resale Connection where multiple items are grouped together in a sale transaction to offer a group discount.
MOTO
MOTO Credit Card Processing. (MOTO = Mail Order Telephone Order). Basically, this means that you collect credit cards in an environment where the customer and credit card are not physically present at the time of purchase. These are usually telephone and mail order purchases.
Returns
A return of merchandise previously purchased and monetary compensation is offered when returning the items to stock. Compensation for returned merchandise is usually offered as a store credit and usually has to happen with a specified time period after the item was sold.

Many resale and consignment stores operate with a "No Return" policy.
Returns
A return of merchandise previously purchased and monetary compensation is offered when returning the items to stock. Compensation for returned merchandise is usually offered as a store credit and usually has to happen with a specified time period after the item was sold.

Many resale and consignment stores operate with a "No Return" policy.
Returns
A return of merchandise previously purchased and monetary compensation is offered when returning the items to stock. Compensation for returned merchandise is usually offered as a store credit and usually has to happen with a specified time period after the item was sold.

Many resale and consignment stores operate with a "No Return" policy.
Store Credit
Used to define the amount of money owed by the store to a vendor or customer. In Resale Connection vendors and customers accumulate store credit dollars from the sale or return of merchandise to the store. The program will track individual store credits issued and used by all vendors and customers.
Suspends
The term used to identify buy, sale or consignment transactions that have been placed in a temporary or unfinished status for completion at a future time.
Trade
This word is used to describe the function in the program by which the Operator can process buying intake items and applying the resulting value of the intake to an immediate sale to the same vendor/customer.
Wishlist
A wishlist is a descriptive group of inventory items that customers are looking for, but is not currently in stock at your store. When these items show up during inventory acquisition via buys or consignments, the operator will be notified that matches have been found in the new transactions that match the current wishlist.