Consignment stock belongs to your supplier until you actually purchase it (in Jim2, this is done via a Consign. Buy PO).
You receive consignment stock from your vendor using a Consign.In purchase order type. This is like a normal purchase order, and when the stock arrives can be placed on Received or Finish. The stock is now available to sell, but no accounting will occur until the consignment stock is actually purchased.
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Consignment stock should be depleting or special stock only. |
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Ensure Override FIFO is not ticked under Tools > Options > Stock, otherwise you may inadvertently use stock on hand rather than consignment stock. |
This can be thought of as very similar to a purchase order that is on a status of Received, except that no temporary creditors journal is generated.
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You will see some letters underlined in the field names within the header, eg. Vend#. Using Alt+ the underlined letter will jump you to the field beside that heading. |
It is important to recognise the fact that you do not actually own the stock at this point, and that any sales of this stock are at 100% profit until it is purchased.
Consignment stock can be sold and transferred, and even returned to the vendor (RTV) but cannot be stock adjusted.
In fact RTV is the correct way to return unsold consignment stock.
Further information: