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Level 1

I am the consignor. How to record outgoing inventory?

All of the topics I can find are for consignees in this community. I am the consignor, I sell the products to my consignee and ship the products to them. They send me a sales report in the end of the month and then I record them as sales. I would like to know how this can be done on QB. 

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Level 11

I am the consignor. How to record outgoing inventory?

Consider using an inventory management with consignment feature to integrate with your QBO. You may start exporing from these apps.

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

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

https://summit.zapapps.io/?ac=GRTspbJd

 

Hope it helps.

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Moderator

I am the consignor. How to record outgoing inventory?

I have the steps to record the outgoing inventory as a consignor, @alan0083

 

You can set up your consignees as customers and assign classes to them in the program. Then, set up yourself as a vendor since you're the consignor. Let's turn on the class tracking feature before performing the steps below. 

 

To enter consignees as customers: 

  1. Go to Sales from the left menu. 
  2. Select Customers.
  3. Choose New customer.
  4. In the Customer information dialog, enter the consignee's details.
  5. Click Save
  6. Repeat the process for other consignees. 

 

The screenshot below shows you the fourth to fifth steps. 

CustomerInformation.PNG

 

To set up consignees by classes: 

  1. Go to the Gear (Settings) icon at the upper right. 
  2. Select All Lists under Lists
  3. Choose Classes.
  4. Click New.
  5. In the Class dialog, enter the consignee's Name.
  6. Hit Save
  7. Repeat the process for other consignees. 

 

See the screenshot below to show you the fourth to sixth steps. 
SetUpConsigneesByClasses.PNG

 

Once done, go to Vendors from the left menu and select New vendor. Then, enter your details in the Vendor Information window. This way, you can set up yourself as a vendor

 

Second, you can create two accounts to help track your consignment sales. Then, set up a consignment sales item to track your outgoing inventory. 

 

Third, you can enter invoices or sales receipts to record the consignment sales and the outgoing inventory. Please make sure to use the Consignment item and select the appropriate consignee in the Class field. 

 

For detailed instructions, see the first to third steps through this article: How To Record Consignment Sales

 

As always, you can create a customized report to view the breakdown of your consignment sales. Just go to Reports from the left menu. Then, enter Profit and Loss by Class in the Search box and select it. You can refer to the fourth step in the article I provided above. 

 

Moreover, I recommend using an inventory management app with consignment feature that integrates with the program. You can refer to the apps provided by Fiat Lux - ASIA above. 

 

Just click the Reply button below if you need anything else. I'm always here to help, @alan0083

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