We recently started consignment in our retail shop. How do we keep track of store credits for customers in POS when their items sell? Do I create a PO as I do when paying a vendor? How would it be tracked for bookkeeping?
EMS Response: Intuit’s help recommends that you create a PO and put the consignment items on the PO and then as it sells, receive those items in which will create a bill to be paid. This works but can be a pain to manage. Another solution is to look at Pbposadvisors.com and download their consignment tool. It is pretty slick and handles all of the back end accounting. If you do a lot of consignment, it is well worth the money.
