Subject Area Concepts
The Logical 02330 - Retail Transaction - Tender - Macro View subject area diagram zooms in on the tender part of a retail transaction. Tender is a generalized term for any media used to offset a sale or return/refund. The tender in a typical sales transaction is treated as a debit and used to settle a transaction. The retail transaction tender view can handle a wide variety of different kinds of tender. In addition to traditional tender media like cash, checks, credit cards, debit cards, etc., the ARTS operational model supports coupons, food stamps, gift certificates, customer trade account, etc. Also, new to version 6.1 of the operational data model, a WriteoffLineItem entity is being introduced to handle situations where a retailer sells (or an item is stolen) with no tender to offset the credit against sales. A write off is a debit item used to reflect a retailer's loss in retail transactions where a customer takes merchandise or uses a service without paying for it. A write off is a sales revenue contra account and ultimately is treated as an expense.
The WriteoffLineItem is being introduced to handle drive off transactions, walk offs where a customer sale is rung up but the customer fails to pay for it, etc. These kinds of retail transactions occur and need to be settled. The write off provides a mechanism for closing the transaction.