Chapter 4 of 7
Settle, return and buy out
Pay each vendor for what you sold with standard purchase invoices, and send the vendor a consignment statement. Return unsold stock to the vendor, put a unit that a customer returns back into the vendor's consignment stock, buy aged stock into your own inventory with an ownership change, and charge vendors for storage, handling or rented space with standard documents.
In this chapter
- 01Settle with vendorsPay consignment vendors only for what you sold: one purchase invoice per vendor for received drop-shipment lines, share-of-price terms and the statement.
- 02ReturnsSend unsold consignment stock back to the vendor with a return to vendor, and put a unit that a customer returns back into the vendor's consignment stock.
- 03Buy-out and agingBuy vendor consignment stock into your own inventory with an ownership change, and let aging rules propose buy-outs or returns for stock that stays too long.
- 04Charge vendor feesCharge a consignment vendor for storage, handling or rented space with standard documents: a line on the settlement invoice, a credit memo or a contract.
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