is there any way to have consignment stock seperate to on hand stock?

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Andrew Bennenbroek
Andrew Bennenbroek Member Posts: 3 ✭
edited December 2016 in Accounts Hosted
is there a way to have consignment stock separate from on hand stock?

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  • Jacqui Allen
    Jacqui Allen Member Posts: 238 ✭✭
    edited September 2016
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    Consignment stock is not an inventory item, the cost is generally calculated based on the sale price less commission. I suggest you set it up as a non inventory part, you can group them together as a sub item of say "consignment"
  • DFB
    DFB Member Posts: 33 ✭✭
    edited December 2016
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    It depends upon your perspective of consignments stock. We are a distributor who place stock at a clients site. At the end of the month we count what is remaining and invoice them for what they have used.
    To manage this in the software, we  created a product item called "Consignment" and then duplicated the products that we placed on consignment, but made them a member of "Consignment". So you have the same product listed twice; one in normal inventory and one in "Consignment". We then use the "Adjust Quantity On Hand" to transfer stock from one location to the other.
    At the end of the month we invoice the customer from the "Consignment" stock, and then when we replenish their consignment holdings, we transfer the stock in the system to reflect the transfer.
    If you have multiple customers that hold consignment stock, then you can make each customer a separate item, so that you build a hierarchy such as:

    Inventory -> Consignment -> Customer1 -> Part Number

    Hope this helps.

     
  • Andrew Bennenbroek
    Andrew Bennenbroek Member Posts: 3 ✭
    edited September 2016
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    Thank you for your reply this information was helpful


  • Andrew Bennenbroek
    Andrew Bennenbroek Member Posts: 3 ✭
    edited September 2016
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    Thanks DFB. We are also a distributor and have placed stock at various clients for them to sell, your answer is very helpful as this is exactly what we were aiming to achieve. Thank you for your help.

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