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Consignment Inventroy

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Jeff N

Advanced Member

Posts: 32

1/14/2015 8:49 PM

I am looking for any ideas on initial consignment inventory PO's, typically for zero dollars. Here are my thoughts...

I set up a consignment agreement, all items to be inventored will be cataloged. Set up IC12 as consignment. (Does IC11's consignment flag need set too? Is this more of a global setting?)

Issue a zero dollar PO to vendor to bring the product in.

Now, if I run a valuation report won't it show no value since the PO is zero? This would be incorrect since the inventory definitly has value, it's just we havn't paid for it yet.

Thanks,

Jeff

JonA

Veteran Member

Posts: 1163

1/15/2015 1:04 PM

I would just make the IC12 consignment flag Y and leave IC11 alone. Are you saying you want the consignment inventory to have no value? Also, when you receive the inventory at Cost Option 2 (no charge), the lines close and the receipts are archived leaving no lines to be matched when the invoice is processed. Initial consignment inventory is typically loaded using IC20.