The Co-op Food Stores of New Hampshire and Vermont

Jargon. Gets the best of any of us sometimes. And like with any organization, the Co-op has jargon of its own to explain various facets of the business. The information submitted below by Co-op Assistant Director of Merchandising Paul Hoffman helps takes some of the mystery out of terminology common to the Co-op lexicon:

Q: What is a transfer and should it be at cost or retail?

A: A “transfer” is any inventory item moved from one store or dept to another, at cost.

Q: What is the proper way to complete an inventory transfer?

A: The proper procedure for completing a transfer is:

Only depts with inventory can receive a transfer (front-end for instance can not receive a transfer).

All transfers are done at wholesale cost, not at retail.

The department making the transfer of inventory is responsible for recording it – that includes looking up the actual cost.

All transfers MUST be recorded on an official GREEN transfer sheet. (If your dept keeps track on computer, print out and attach to greentransfer making sure the Total of the transfer is recorded on the green sheet.)

Dept sending, dept receiving and/or store sending and store receiving MUST be recorded.

All transfers are to be completed according to inventory dates by month. (If you do not know the inventory dates ask your store manager or Co-op Controller Mark Langlois.)

All properly completed transfers should be sent via inter-office envelope to Kaitlin Bartley/Accounting.

(Thanks to Joanne Bouchard for this week’s Q and Mark Langlois for this week’s A!)