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    • How to account for consignment goods when transferring to customers or receiving from suppliers?
    Sequence of actions for selling consignment goods: Create off-balance correspondence accounts in the chart of accounts, e.g.: 80 – Consignment Goods; 81 – Liabilities for Consignment Goods. Create a consignment goods transfer operation type. It is recommended to use the "Priority" attribute so that the journal entries are correct regardless of what is indicated in the purchase position. If you plan to deliver goods with separate VAT, you must also create a VAT correspondence account. Expense correspondence accounts do not need to be filled in. Example: Register a goods transfer entry in the module Warehouse → Sales using the operation type created in step 2. When the client provides a list of sold consignment goods, a sales document is generated based on it: Warehouse → Consignment Balances Filter the client (using table filters) for whom you want to issue the invoice and fill in the quantity of goods in the column "Quantity to Invoice," which will then be transferred to the invoice. Fill in the fields: Document date, Operation type, VAT rate, and click the "Create Document" button: The created sales entry automatically opens in the Warehouse → Sales module. The specified quantity of goods from the consignment document is transferred to the sales document. The consignment entry is updated and reduced by the quantity of goods invoiced. Note. When making a reverse entry (goods return), the quantity of consignment balances remains unchanged. It is no longer possible to adjust (sell) consignment balances from previous years. When your company receives goods from a supplier Create an Operation Type "Consignment – Purchase", which will be used to add consignment goods to the warehouse. For example: D1201 (Products) K20XX (payables to suppliers for consignment). E.g.: Upon receiving consignment goods, register the purchase in Warehouse → Purchases by selecting the operation type "Consignment – Stock" When you receive an invoice for the goods that have been sold, register the purchase using the operation type "Consignment – Purchase" as follows: D20XX-Consignment stock Accounts Payable, K201 - Other Creditors.. We recommend selecting the "Priority" attribute to ensure that correct general ledger entries are formed regardless of what is specified in the purchase position. E.g.:
    › › ›
    Accounting Software

    How to account for consignment goods when transferring to customers or receiving from suppliers?

    Sequence of actions for selling consignment goods:

    1. Create off-balance correspondence accounts in the chart of accounts, e.g.: 80 – Consignment Goods; 81 – Liabilities for Consignment Goods.
    2. Create a consignment goods transfer operation type. It is recommended to use the "Priority" attribute so that the journal entries are correct regardless of what is indicated in the purchase position. If you plan to deliver goods with separate VAT, you must also create a VAT correspondence account. Expense correspondence accounts do not need to be filled in. Example:
      Consignment goods transfer operation type example
    3. Register a goods transfer entry in the module Warehouse → Sales using the operation type created in step 2.
    4. When the client provides a list of sold consignment goods, a sales document is generated based on it: Warehouse → Consignment Balances
      Filter the client (using table filters) for whom you want to issue the invoice and fill in the quantity of goods in the column "Quantity to Invoice," which will then be transferred to the invoice.
      Filling quantity to invoice for consignment goods
    5. Fill in the fields: Document date, Operation type, VAT rate, and click the "Create Document" button:
      6. Creating sales document for consignment goods
    6. The created sales entry automatically opens in the Warehouse → Sales module.

    7. The specified quantity of goods from the consignment document is transferred to the sales document. The consignment entry is updated and reduced by the quantity of goods invoiced.

      Consignment entry updated after sales document creation
      Note.
      • When making a reverse entry (goods return), the quantity of consignment balances remains unchanged.
      • It is no longer possible to adjust (sell) consignment balances from previous years.

    When your company receives goods from a supplier

    • Create an Operation Type "Consignment – Purchase", which will be used to add consignment goods to the warehouse. For example: D1201 (Products) K20XX (payables to suppliers for consignment). E.g.:
      • Consignment purchase registration example in accounting system
    • Upon receiving consignment goods, register the purchase in Warehouse → Purchases by selecting the operation type "Consignment – Stock"
    • When you receive an invoice for the goods that have been sold, register the purchase using the operation type "Consignment – Purchase" as follows: D20XX-Consignment stock Accounts Payable, K201 - Other Creditors.. We recommend selecting the "Priority" attribute to ensure that correct general ledger entries are formed regardless of what is specified in the purchase position. E.g.:
      • Consignment stock record example in accounting system

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