For goods on consignment - what is the best practice to record goods released to a customer that will not be recorded as a sale until the customer sells the goods?

Hi there, kelly63.

To track consignment in QuickBooks Online, you need to set up your customers (seller), class, sales item, and income accounts. Let me guide you on how.

To start, let's enable the class tracking feature to track your transactions by seller. After that, refer to the steps below to enter their information.

1. On the left pane, select Expenses.
2. Click Vendors tab
3. Select New Vendor.
4. Use the fields in the Vendor information dialog to enter the consignor's information.
5. Select Save.

Then, assign each of your sellers to a class. Here's how: 

1. At the top right, click the Gear icon.
2. Select All lists.
3. Select Classes.
4. Click New.
5. Enter the consignor's name in the Class dialog.
6. Select Save.

Once done, you need to create accounts and consignment sales items to help track your sales and your outgoing inventory. Finally, enter invoices or sales receipts to record the consignment sales. 

For more information, as well as how to record customer's payouts and create a report, I recommend the following article: Setting up QuickBooks to Track What You Consign to Others.

Drop me a comment below if you have any other questions. Have a great weekend. 

Imho, a consignee is one of your multi warehouse. Unfortunately QBO doesn't have a multi warehouse feature. Consider having an inventory management app to manage your consignment deal and integrate it with QBO. You may start exploring from these apps

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

https://www. zaperp.com/ref/25/

We only sell to one company for our items.  Otherwise we sell our own items through our website. We have the very basic version of Quickbooks which doesnt have classes as an option. Is there a way to do this without the casses option?

Thank you for joining the thread, @bradscreations. I’ll help you with tracking your consignment sales with QuickBooks Online (QBO).

I can offer another way around to track consignment sales in QBO. You can use the Memo or Description field to enter the details of your consigned goods. This way, you’ll be able to know that the goods are under consignment.

To do this, we’ll have to manually enter the details of the product and ensure that the Description/Memo column is enabled when creating an invoice. To do so, here’s how:

1. Go to the Gear icon on the top menu. 
2. Choose Custom form styles.
3. Tick Edit on the invoice template.
4. Tap the Content tab.
5. Hit the Table section on the ample invoice.
6. Place a checkmark on the Description option. 
7. Press Done. 

Once done, you can proceed with creating an invoice and entering the necessary details, including the description/memo.

You can also refer to this article regarding customizing invoices, estimates, and sales receipts in QuickBooks Online.

Let me know if you need further assistance with tracking consignment. The Community always has your back. Have a great day!