Layby’s are used to give the customer a specified time period to pay a purchase off, before taking the goods home. The customer can make a deposit on the item, which will then be held in storage by the retailer until the goods have been totally paid off, or the customer cancels the layby.
Layby’s are most commonly used in the retail sector for goods that do not perish. You have the ability of setting the length of time customers can leave an item on Layby, and also how much deposit is required.
When items are put on Layby, the stock level for that item is reduced, and you can see which items are held in stock for sale, and which items are held in stock on Layby.