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Best consignment sales process?

By
Andrew
on 3/27/13, 6:55 PM 3,292 views

What might be the best workflow for selling products on behalf of a client (who might also be a customer)? Thanks

cancelled!

AD LIBITOM, michel Guénard
on 3/27/13, 7:26 PM

I have a similar problem selling products on consignment thru the POS module. We have set the order accounts to manage the stock but we need to modify the POS workflow to generate a pending purchase order for each product sold in the ticket so that at the end of the month we can group those purchase orders and send a draft invoice to each suppliers. Any idea would be appreciated.

Fernando Pérez Egaña
on 4/12/13, 3:36 PM
0

michel Guénard

--michel Guénard--
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--michel Guénard--

VP operations & finance Social entrepreneur Certified Public Accountant Past Chief internal auditor

michel Guénard
On 3/27/13, 7:41 PM

a) define a service; sales price =your commission +taxes (if applicable) b) no entry in stock as the goods do not belong to you. c) when you cash in the sale, debit bank for 100%, credit customer account for the net amount due d) pay the customer. in case the said customer is doing other (normal) operations with your company, it would be safe to create a specific account payable for these consignment transactions; why not a specific journal if they occur often.

ok. great! i think that nails it (and the direction i was heading). thanks. i'll tinker with it today and follow up.

Andrew
on 3/28/13, 12:22 PM

actually. one question: how would we go about tracking the item for sale? we like to keep track of what's available? should products be "make to order"? also just to complicate things a little more ;-) : We base our consignment fee on a percentage of the total and the sale price varies until validated (used musical instruments) so the cost would not be completely defined until we sold it. btw, thanks for the suggestions!

Andrew
on 3/28/13, 12:28 PM

My activity is concerned by this issue for the same kind of article (used music instruments); I will try to configure this thoroughly; and let you know the results.

AD LIBITOM, michel Guénard
on 3/30/13, 11:43 AM

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Asked: 3/27/13, 6:55 PM
Seen: 3292 times
Last updated: 3/16/15, 8:10 AM