How to create an Appraisal

Modified on Fri, 15 Nov, 2024 at 1:37 PM

This article explains how to create an appraisal document in Flawless POS, which can be used for purposes like insurance, resale, and more.

You may refer to this video for a step-by-step guide on creating an appraisal:https://www.youtube.com/watch?v=zexDl-HZjI0

1. Access the Appraisal Module

Open your left navigation menu.
Expand the Inventory menu option by clicking on it.
Click on the Appraisal menu item.
In this module, you'll see all your previously created appraisals, displayed in a data grid format that allows filtering and exporting.

2. Start the Creation Process

Click the Create appraisal button to begin.
Fill out the appraisal details, including the name, appraisal number, and most importantly, the Document Type and the recipient of the appraisal.

3. Select Document Type

Open the document type context menu to choose the type of appraisal you need.
For this example, select the Insurance Appraisal type and click Next.

Here are brief descriptions for each appraisal type:

Insurance Appraisal - Provides a value for an item to ensure adequate coverage for loss, damage, or theft.
Certificate of Appraisal - A formal document outlining the assessed value and description of an item.
Replacement Estimate - Offers an estimated value to replace an item with a similar one in case of loss or damage.
Antique Appraisal - Evaluates the historical and market value of antique items based on age, rarity, and condition.
Estate Appraisal - Assesses the value of items within an estate, commonly used for estate planning or probate purposes.
Fair Market Value Appraisal - Determines the price an item would fetch in an open market between a willing buyer and seller.
Certificate of Sale - Confirms the sale of an item, sometimes including its appraised value for record-keeping.
Appraisal for Resale - Assesses the resale value of an item, often used for secondhand or consignment sales.
Certificate of Authenticity - Verifies the authenticity of an item, often used for artwork, collectibles, or luxury goods.
Purchase Appraisal - Appraises the value of an item at the time of purchase, often for buyer assurance.
Appraisal Report - A detailed report that includes the item’s description, condition, and appraised value.
Salvage Appraisal - Estimates the value of an item that has sustained damage and may be sold in a salvage market.
Comparison Appraisal - Compares the value of similar items to provide an appraisal for a specific item.
Liquidation Appraisal - Provides a value for quick sale, often in a short timeframe or distressed situation.
Collateral Appraisal - Appraises the value of an item to be used as collateral for a loan.
Retail Valuation - Determines the retail price of an item in a traditional store setting.
Diamond Grading Report - Assesses and grades a diamond based on characteristics such as cut, color, clarity, and carat weight.
Identification Report - Identifies the characteristics of a gem or jewelry piece without assigning a specific value.
Gemstone Grading Report - Grades a gemstone’s quality and characteristics for clarity on its market position.
Ammolite Grading Report - Specific to ammolite, this report grades the quality and value based on color and structural integrity.

4. Add Products to Appraise

In the Select Products section, click the Add appraisal product button.

Choose the product you want to appraise (e.g., Yellow Diamond Engagement Ring)
You’ll be asked if you want to create an individual description for the selected product or use the existing description.

5. Craft a Product Description

If you opt for a custom description, select the relevant product type and click OK.

Fill out the necessary information relevant to the product type.
Spend time ensuring the description accurately reflects the product. Once satisfied, click OK.

6. Finalize Your Appraisal

You can add multiple products to a single appraisal document if desired.
Once you’ve added all products, click Next.
In the final section, preview the document to check for any changes you might want to make.
When you’re happy with the preview, click Complete.

7. View Your Appraisal

The most recent appraisal will automatically appear at the top of the data grid.

Troubleshooting
For any issues encountered while creating an appraisal, please contact Flawless POS support for assistance.