Contracts
Last updated
Last updated
Creating a contract in Reselly allows you to manage product buyouts, consignment agreements, and store credit allocations with ease. This page explains how to create and manage contracts, ensuring accurate pricing, clear terms, and streamlined record-keeping.
1. Open ReSelly from Shopify Admin
Log in to your Shopify store and go to your Shopify Admin Dashboard.
Navigate to Apps in the left sidebar and select ReSelly from the list of installed applications.
2. Access the Contracts Module
Click on the Contracts module from the main dashboard or sidebar menu.
3. Create a contract
On the Contracts page, click the New Contract button.
4. Fill the Contract Details section
In the Contract Details section, select a Draft Status for your contract.
Example: Pending
Tip: You can customize your contract draft statuses to cater towards your business needs by creating custom statuses in the Settings module.
Next, select a customer for your contract in the Customer field.
Example: Karine Ruby
Lastly, select a location.
Example: My Custom Location
5. Add Contract Items
In the Contract Items section, add items by clicking the + New Item button.
After clicking the + New Item button, a section will expand where you can input the details of the item:
Tip: The category, is new checkbox, color, and New Import fields are Custom Fields created for the store. You can create your own custom fields by navigating to the Settings module and going to the Contracts section.
The form includes multiple fields to specify the details of your item:
Entered Date: Select the date when the item is added (default is set to "Today").
Product Title (required): Enter the name of the product.
Brand (required): Search and select the brand of the product.
Product Type (required): Search and choose the type of product.
Size: Specify the size of the product, if applicable.
Contract Type (required): Choose the contract type (e.g., Buyout, Store Credit, Consignment).
Example: Contract Type = Buyout
Retail Price: Enter the retail price. This is the price that you would be selling the product for.
Estimated MSRP (required): Specify the Manufacturer's Suggested Retail Price (MSRP).
Barcode Config (required): Select the barcode configuration (default is pre-selected).
Example: Contract Type = Consignment
Markdown Policy (required): Specify the Markdown Policy. Here you can enter what Markdown Policy the consignor agreed to (No markdown, Contact before markdown, or Ok with markdown).
Retail Price: Enter the retail price of the product.
Estimated MSRP (required): Specify the Manufacturer's Suggested Retail Price (MSRP).
Barcode Config (required): Select the barcode configuration (default is pre-selected).
Example: Contract Type = Store Credit
Retail Price: Enter the retail price of the product.
Estimated MSRP (required): Specify the Manufacturer's Suggested Retail Price (MSRP).
Barcode Config (required): Select the barcode configuration (default is pre-selected).
6. Setting Financial Details:
In the lower section of the page, set your financial details:
Example:
The Buyout, Store Credit, and Consignment values are automatically populated to give you an estimate of the payout for each contract type.
Tip: If your store has predetermined rates for certain contract types, you can configure these fixed rates to automatically apply to your contracts by navigating to the Settings Module in the Contracts section.
Buyout (required): Enter the percentage (%) for buyout pricing and the dollar amount ($) will automatically be calculated.
Store Credit (required): Specify the store credit percentage (%) and the dollar amount ($) will automatically be calculated.
Consignment (required): Provide the consignment percentage (%) and the dollar amount ($) will automatically be calculated if the consignor is placing the product on consignment with your store.
7. Review your Summary
Scroll down to find the Summary section.
This section includes the item name, retail price, buyout amount, store credit amount, consignment amount, and contract type you have chosen.
You can also choose to toggle the Percentages to display the values in % Percentages rather than $ Prices.
Example:
8. Save the contract
Once you have entered all necessary details, click the Save button.
After your contract is saved, the contract will be assigned a contract number for easy identification.
Example: Contract #74
9. Approve the Contract or Mark Items as Passed
If you would like to approve the contract, click the Approve button on the upper right-hand corner.
Once you have approved the contract, the contract status will change from Draft & Pending (or a different status depending on your custom configurations) to Approved.
The product in your contract will also register as a product in your Shopify Inventory.
You can view the product by returning to your contract, and clicking the Product link button.
If you do not approve of certain products within the contract, you can click Mark as Passed to disregard the product.
10. A Contract from a Consignor
Tip: You can easily set up a ReSelly contract page to allow consignors to submit contract requests to your store. For information on how to do that, click here.
If a consignor sent you a contract request externally, it will also populate in the Contracts module.
Contracts sent from consignors will be labeled with Customer under the Source Type column.
The process of Approving or marking products as Passed is the same as internal contracts (Step 9).
