Consignment is an arrangement between two parties, where one person (the consignor) gives their goods to another person (the consignee) to sell them on their behalf. The consignor remains the owner of the goods until they are sold. The consignee displays the goods and tries to sell them, but they don't have to pay for the goods until they are actually sold.

Follow the steps below to record the consignment in Bukku.

Scenario:

On May 1st, 2023, 100 units of Macbook Air were transferred to Khairul Dealer Enterprise for the purpose of selling them on behalf of the company.

On May 31st, 2023, Khairul Dealer Enterprise successfully sold 22 units of the Macbook Air.

To record the consignment, follow the steps below:

1. Create a Consignment location by going to Control Panel > Locations > +New

2. Enter the Location Code and Name.

It is suggested to use the name format "Consignment (Company Name)" to make it easier for you to keep track of the information.

3. Once done, click on Save.

4. Navigate to Stock > Transfers > +New to record transfer the stock from your HQ/Warehouse to the Consignment Location.

5. The New Stock Transfer page appears. The Running number for stock transfer will be automatically generated.

Key in the consignment Date, (in this scenario is on 01/05/2023).

6. Next, scroll down the the Items section. To add an item to the transfer, click on the "+ Add Item" button.

7. Key in the information below:

Product: Macbook Air

Description: Any description for your reference

From Location: HQ/Warehouse

To Location: Consignment Location

Quantity: Consignment Quantity on this scenario 100 Unit.

8. Once done, click on save.

9. On May 31st, 2023, Khairul Dealer Enterprise sold 22 units of Macbook. Now, you need to issue an invoice to Khairul Dealer Enterprise for the sale of 22 units of Macbook.

10. Go to Sales > Invoices > +New, and record a new Invoice as per below:

Customer: Khairul Dealer Enterprise

Date: 31/05/2023

Item: Macbook Air

Quantity: 22 Unit (Sold Unit)

Location: Consignment Location

By following these steps, you will successfully record a new invoice for Khairul Dealer Enterprise with the details provided, reflecting the sale of 22 units of Macbook Air on May 31st, 2023.

11. Once done, click on Save.

Note:

You can generate the Inventory Details report to view the report categorized by locations, products, and consignment contacts. To access the report, navigate to Reports > All Reports > Inventory Detail."