QuickBooks Commerce makes managing your consignment locations easy and super intuitive. By using multiple locations for your consignments you can easily track and replenish your stock across your consignments.
In this article, you will find:
- Creating a location for your consignment
- Moving items to your consignment
- Creating sales order from your consignment location
- Keep track of stock at your consignment location
Creating a location for your consignment
Learn how to create a new consignment location here.
This new location is used to receive and keep hold of all your consignment products. Once you have created the location, you can move stock to it.
Moving items to your consignment
The next thing we need to do is transfer stock to the location. Create a Stock Transfer to move your stock to the consignment location.
You can now begin to sell from your consignment location.
Creating a sales order from your consignment location
Once you have sold stock from your consignment location, you can create sales order to keep track of sales.
1. Create a new Sales Order from the Sales Orders page. In the sales order, enter the Consignment location as the 'Ship from' location.
We recommend using a generic consignment customer to account for consignee sales. This is great as it helps you keep track of the sales made from the consignment.
2. Enter the items that have been sold at the consignment into the sales order
3. Click on Create, and you're done! The sales order has been created and the sales at your consignment have been accounted for.
Keeping track of the stock at your consignment
With QuickBooks Commerce, checking what stock is available at your consignment is very easy.
1. Click on Location Report from the Intelligence tab.
2. Choose the location as the consignment location you want to look up. You can use the extra filters to zero in on the product of your choice.
The report should now display the stock available at your consignment location.
Alternatively, you can choose to upload a Stock on Hand report via CSV, complete with reorder points, to keep track of the stock at your consignment location. Depending on your business needs and operation workflows, different strategies can be used to optimize how you can manage your consignment locations on QuickBooks Commerce.