I need to know how to account for consignments stock in quick books? Specifically How to record commission income? How to record current liability of the items sold?

There is no consignment feature yet in QuickBooks. If you are the consignor, consider using an inventory management app with consignment feature to integrate with QBO. If you are the consignee, consider using a consigment management app with POS feature to integrate with QBO.

Just my 2 cents.

We are both consignee and consignor. Plus can give us an idea about which inventory management app and consigment management app you are talking about to integrate with QBO.

You may explore these options

http://www.primaseller.com/?utm_source=Affiliate&fp_ref=primaseller

https://go.tradegecko.com/register?code=fiat-lux