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I am the consignee and need to track inventory being consigned by consignor.
Hello there, @kmessick.
I'll make sure you can manage consigned inventories as a consignee in QuickBooks Desktop (QBDT) and track your transactions accordingly.
When you sell items on consignment, you'll have to set up consignors as vendors and classes and create consignment income accounts and items. Then, record your consignment sales and generate reports to manage your consigned inventories as a consignee. Before doing so, I encourage you to consult your accountant. They can guide you in setting up the appropriate account and provide expert advice tailored to your business needs.
Whenever you're ready, check out the guide below to track consignment sales and payouts in QBDT:
Additionally, receiving inventory is part of your usual A/P workflow in QBDT. To see the complete list of workflows and other vendor-related transactions, you may want to check out this article as your reference: Accounts Payable workflows in QuickBooks Desktop.
If there's anything else you need or you have other concerns about managing inventories as a consignee in QBDT, please don't hesitate to let me know in the comments below. I'm always ready to help. Take care, @kmessick.
I'm not sure I'm following. I hold the consigned inventory for another company and am paid a commission when that I sell that inventory. I need to track the inventory the manufacturer has put in my warehouse.
Thanks for following up with the Community, kmessick.
You can set up and track inventory in your books by turning on inventory, then setting up the necessary items.
Here's how:
Now that inventory tracking is activated, go to Items & Services from your Home Page and use the displayed list to set up new inventory items:
Your inventory will now show up on the Items & Services list.
You'll also be able to find many detailed resources about managing inventory in our help article archives.
If there's any additional questions, I'm just a post away. Have a wonderful day!
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