How To: Set Up Consignment
Setting up consignment correctly ensures that inventory ownership, payouts, and reporting stay accurate. When consignment items are clearly defined in Yellow Dog, you can easily track what’s owed to each consignor, maintain clean accounting records, and make reliable business and purchasing decisions.
You will need permission to create vendors, levels/dimensions, and items.
To setup Yellow Dog for consignment, complete the following steps:
- Create a vendor called Consignment.
- Categorize consignment items.
- Option A — create a dimension (e.g., Is Consignment = Yes/No) and tag items with that dimension.
- Option B — create a separate level called Consignment and assign consignment items to that level.
- Set up each consignment item.
Create items as normal, with the following exceptions: - Vendor cost — set this to the amount the store will pay the consignor.
- Reference field — put the name of the consignor here (for example: Jane Doe).
- Consistent naming: Use a consistent reference naming convention (e.g., Last, First) to simplify lookups and automated reporting.
- Reporting: Build reports filtered by the Consignment level or dimension and group by reference (consignor name) to calculate sales and payouts. Save these reports for easy access.
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