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Consignment when your company receives goods from a supplier.
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Consignment when your company receives goods from a supplier.

  • Create an Operation Type used to record goods added to the warehouse. For example: D1201 (Products) K20XX (payables to suppliers for consignment). Example:
Consignment stock record example in accounting system
  • Register purchases as you would for any regular invoice: Warehouse → Purchases.
  • When you receive an invoice for the goods you have sold, register the purchase as follows: D20XX-Consignment stock Accounts Payable, K201 - Other Creditors. It is recommended to mark the “Priority” option to ensure that the correct general ledger entries are created, regardless of what is specified in the purchase line. Example:
Consignment purchase registration example in accounting system

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