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erica1
Level 1

Do I categorize payments made to Consignees for products sold as COGS?

 
1 Comment
Rustler
Level 15

Do I categorize payments made to Consignees for products sold as COGS?

If someone is placing items with you for sales on consignment, the amount you pay them is NOT cogs, it is an expense, consignor expense is the account I set up and use.

 

COGS deals with inventory, which by definition is what you own to sell, items placed with you on consignment are not owned by you.

 

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