How to account consignment based sales in Zoho?
Hi,
We are dealing with vendors who supply us stocks on consignment basis. Below is the given scenario and help us on how this accounting can be done in Zoho books.
Day 01 - We receive products from the wholesaler against a delivery note or a challan - lets say 10 units.
Day 07 - We sell 04 units online and send the wholesaler a purchase order of 04 units.
Day 08 - We receive a bill of 04 units and make the payment.
Day 09 - We keep the other 6 units until a new sale is made or we could return them
How this can be accounted in zoho books/inventory?
Day 01 - We receive products from the wholesaler against a delivery note or a challan - lets say 10 units.
Day 07 - We sell 04 units online and send the wholesaler a purchase order of 04 units.
Day 08 - We receive a bill of 04 units and make the payment.
Day 09 - We keep the other 6 units until a new sale is made or we could return them
How this can be accounted in zoho books/inventory?
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