A layaway is similar to an order. Both types of transactions are saved in the system, to be invoiced at a later time. However, with orders, customers typically pay a deposit, and then pay the balance when the merchandise arrives. With layaways, the item is typically in stock, but the customer needs to spread payments over a period of time. Each time the customer makes a payment toward the layaway, you retrieve the Layaway document and input the amount of the payment (deposit).
When you create a layaway, the quantities you place on it are committed. The system calculates the Quantity Available by subtracting Committed Quantity from Quantity on Hand. For example: You place 2 of SKU 123 on a layaway. In Inventory Maintenance, the Quantity Available of SKU 123 decreases by 2 and the Committed Quantity increases by 2.
When you create a layaway, the system automatically creates a Short ID for it using the letters LWY (an abbreviation of "layaway") and the phone number of the customer. For example, if the customer's phone number is 555-1212, then the Short ID would be LWY5551212.