Purchase Consignment Stock

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To purchase consignment stock, bring stock in on a Consign. In purchase order type. This puts the stock into the system to track quantities. When placing the Consign.In on a status of Finish a vendor invoice number and date is required. If you don't have that information, you can enter anything in the Vend Inv# field and a date will also be required.

 

Quality

Review Override FIFO option under Tools > Options > Stock, to determine whether Consign In or normal stock has been used in the invoiced jobs. This only applied to stock codes that are purchased on Consign In purchase orders and normal purchase orders.

 

Ticking the box tells Jim2 to use costs associated with normal purchase order stock before Consign In purchase order stock.

 

When ready to reconcile, raise a Consign. Buy purchase order. This is another type of purchase order. Raise it with the same vendor as the Consign. In purchase order. In the stock grid of the Consign. Buy purchase order, right click and select Add Stock sold off Consign In. It will automatically add all the consignment stock bought on a Consign. In and sold from that vendor.

 

add stock off consign in

 

Info

Consign. In purchase orders only affect stock on hand and there is no effect on financials. Once a Consign. Buy is created the financial side will be affected.

 

To purchase the consignment stock received on a Consign. In purchase order, create another purchase order with a type of Consign. Buy.

 

Enter the stock, quantity and pricing of the consignment stock to purchase, noting the original stock location that the consignment stock was received into (regardless of whether it has subsequently been transferred).

 

add consign

 

It is possible purchase more or less than the consignment stock that has been sold, but no more than the total amount of consignment stock that has been received and not purchased. Once the Consign. Buy purchase order is placed on Finish, all related consignment stock will be moved to the Consign. Buy purchase order. At this point, creditors will be updated and any COGS journals related to the sale of the consignment stock will automatically be generated.

 

Tip

Some letters in the field names within the header are underlined, eg. Vend#. Using Alt+ the underlined letter will jump to the field beside that heading.

 

Reconciling consignment stock

Consign. In and Consign. Buy can easily be identified by their type on the stock's Stats, Buying and Transactions tabs.

 

stock consign transactions

Stock Transactions tab shown here

 

A consignment stock report allows easy reconciliation of stock on consignment. This report, called Stock List Consignment Required Report, can be printed from a Stock List.

 

consignment report

 

Set up a monthly Consign. Buy purchase

Once the stock has been brought in to Jim2 on a Consign. In purchase order and finished, at the required date each month:

Add a purchase order and select Type Consign. Buy.

add consign buy

Right click in the stock grid and select Add Stock Sold off Consign In.

add stock off consign in

Select the required criteria (All or Date Range), then select OK.

consign buy date range

The stock grid will automatically populate with what has been sold from Consign. In purchase orders.

 

Cross check the information with the Stock List Consignment Required report:

Create a Stock List that contains all stock records that are purchased on consignment. Perhaps create a non report group and tag all relevant records to the group to allow for ease of filtering the Stock List.

Select the Stock List Consignment Required from the Report drop down list and preview/print it.

consign report

 

Further information

Purchases Security

Debtors Purchase Orders

Expenses at a Glance

Purchases at a Glance

Expenses Tab on POs

How Does Cost of Goods work

How PO Status Affects the GL

Purchases/Expenses Status

Purchase/Expense Order Header

Purchase/Expense Order Footer Tabs

Purchase/Expense Comment Grid

Purchase Order Approval Process

Purchase Order Stock Grid

Purchase Order Reports

Purchase Order List

Purchase/Expense Preview Pane

Purchase List Header

Expense Order Stock Grid

Opening Balance Purchase Order

Add a Negative Expense Order

Add a Purchase Order

Add a Document to an Order

Add an Amount to a PO when Finished at $0

Add an Expense Order

Add Backorder Purchase Order

Add Comments to a Purchase/Expense Order

Add Freight to a Purchase Order

Add Stock to a Purchase Order

Add Vendor Discount

Auto Create a Purchase Order

Create a PO from a Similar PO

Create a PO Template

Create a Purchase Order List

Enter Serial Numbers

Fix Incorrect Pricing after PO Finished

Handle Employee Reimbursements

Handle a Credit for Freight Charged

Link a Job to a Purchase Order

Link Expenses to a Purchase Order

Print a Purchase/Expense Order

Progress Payments on Purchase Orders

Receive Consignment Stock

Receive Stock

Record One Invoice Number on Multiple POs

Record Overseas Purchases, GST, Import Costs

Return to Vendor

Round up Supplier Invoices

Scan Stock into a Purchase Order

Staff Purchases

Unprint Purchase/Expense

Vendor Price Breaks

View or Edit a Purchase/Expense