posted on October 3, 2000 01:20:25 PM
Afternoon All!
As I've mentioned in previous posts, I get my inventory by consigning for others. Until now, I've always used a "hard copy" system for bookkeeping...but it's becoming a royal pain in the whazu! So I've opted to use Quickbooks for this daunting task. Here's my problem though...I can't seem to figure out how to set it up to do consignment type bookkeeping. I would call support but good grief, I don't want to have to pay so much per minute or renew for a year when I never have any problems (knock on wood!). I'm hoping someone here can tell me how to do it. I would soooooo much appreciate it!
posted on October 3, 2000 02:14:52 PM
I use Quickbooks for my rentals, auction sales, and consignments. I have set up a CLASS for each: rental, auctionsales, consignment. Then I set up an ITEM for: rent, sales, and an item with the name for each person I consign for. When I do an invoice, I enter the Class at the top and the appropriate item. You would also need to set up a corresponding liability account for each person you consign for if you want to keep them separate. When you enter sales/invoices and put the item name in, it would automatically post those funds to their account which is a liability you owe. Then directly from those liability account in your chart of accounts, you can deduct your fees as commissions or whatever you call them and it will show the balance you owe. When you pay them by check, be sure & list that item and it will zero it out.
posted on October 3, 2000 06:47:54 PM
Go to excite.com and they have boards with all kinds of questions and answers about Quickbooks. Looks like you got a good answer already, but with Quickbooks, there will be more. Good Luck The following is the url.
http://boards.excite.com/boards/folder?id=3:8758
