The Ability Consignment Solution requires QuickBooks^® Point of Sale¹ and QuickBooks^® Financial software¹ to provide a complete solution for tracking, reporting, and making payments to consignees while keeping your inventory and accounts payable accurate and up to date.

• Accurate bookkeeping.
• Less work.
• Improved reporting.
• Allows for consigned and owned inventory within the same department.
• Avoids complicated and clumsy workarounds¹.
• Accurately reflects inventory counts and availability in QuickBooks^® Point of Sale
• Works with QuickBooks Pro or Premier Editions (2004-2009) or Enterprise Solutions (Version 4.0-9.0)

If you have QuickBooks^® Point of Sale integrated with QuickBooks^® Financial software and you would like to download our fully operational 30 day demo, please click here to download.

**Ability Consignment does not work with the QuickBooks^®/QuickBooks^® Point of Sale Demos. If you do not already have a licensed copy, please contact us to set up a live demo.

To view or download the Installation and Operations Manual in pdf format click here

Previously, the only way to handle consignment items within QuickBooks^® Point of Sale was through workarounds that were inefficient, confusing, labor intensive and often resulted in inaccurate bookkeeping. Now there is a better solution. Handling consignments with the Ability Consignment Solution not only handles the transactions necessary to properly reimburse vendors and avoids inaccurate bookkeeping, but provides the reporting that you need to provide for consignment vendors to keep them informed and happy.

Consigned inventory is not, and normally should not be reflected in your inventory account. Also, there is no obligation to pay for sold consigned inventory until it is sold to the purchaser. This normally presents a problem for QuickBooks^® and QuickBooks^® Point of Sale since it reflects normal handling of inventory items and payable obligations. The Ability Consignment Solution allows you to put the inventory into QuickBooks^® Point of Sale, not only designating that it is a consignment item, but indicating the payment to be made to the vendor when the item is sold. You no longer have to put consignment items into a separate department(s) from owned inventory⁴.

Moving sold inventory items into appropriately created bills to pay for consigned vendors is easy. You simply click on the icon to start the Ability Consignment Solution and select the sales period that you want to process³. Ability Consignment then scans the QuickBooks^® Point of Sale data for the period and creates Bills to Pay in QuickBooks^® Financial for sold consigned items. (Additionally, it creates Vendor Credits for returned items.) You can then print detailed reports for the vendors that can be included when you pay your bill to those vendors. And, since it is in Bills to Pay, you can select to pay these bills with all of the normal options available to you within QuickBooks^®.

¹ The description of the two workarounds suggested by Intuit includes many required steps. The description of the process spans several pages. Intuit presents two different workarounds for your choice since each can require a different amount of work and follow up. The methods will reflect different results, especially if all steps are not followed on a regular basis.

² Inventory values shown in QuickBooks® Point of Sale reports reflect a zero value. This causes QuickBooks^® Point of Sale reports regarding margin and profitability to be inaccurate, but since this solution is provided to work with QuickBooks^® Financial system, more complete and accurate figures regarding these issues are available in the Financial system.

³ Inventory items may not be deleted before processing has been completed. Payment are calculated on data in the inventory record at the time of processing.

⁴ Separate departments will be required with Ability Consignment Basic Edition; Professional and above editions do not have this limitation

Ability Consignment Software Editions

Avoids complex multi step workarounds to track and pay for good sold by consignment stores or regular stores having consigned items to sell.

Basic Edition - $199

• Easy to use
  1. Define a custom department with the consignment percentage in the name - "Consignment Hats - 40%"
  2. Process Sales normally
  3. Run the software whenever you want to move consignment sales activity into Bills to Pay and Cost of Goods in QuickBooks Financial.
  4. Run reports to provide detail for amounts paid to consignment vendors.
• Does not erroneously inflate owned inventory or payables.
• Provides for inventory adjustment with or without payment to vendor.
• Does not interfere with the processing of non consigned inventory functions.

Requirements:

• Requires Licensed Copy of QuickBooks Point of Sale Pro version 6 or greater and QuickBooks Financial Pro.
• Requires a separate department for each payout level. Simultaneous departments with the same payout level are acceptable (Example: "Hats - 30%" and "Shoes - 30%")
• Requires that sold inventory items not be deleted before running the software.
• Requires an active Internet connection for registration and activation.

Professional Edition - $249

• Same Features as Basic, plus:
• Uses two custom fields to store consignment item cost and payout rate
• Payout rate can be either flat rate or percentage

Requirements:

• Requires Licensed Copy of QuickBooks Point of Sale Pro version 6 or greater and QuickBooks Financial Pro.
• Requires two available custom fields available for consignment data.
• Requires that sold inventory items not be deleted before running the software.
• Requires an active Internet connection for registration and activation.

Professional Enhanced Edition - $449

• Same Features as Pro, plus:
• Allows for 3 user defined points for automatic price drops. Example: price drops by 20% at 30 days, an additional 25% at 60 days, and an additional 20% at 90 days.
• Allows for automatically loading user fields with price drop information for printing on price labels using QBPOS print designer.
• Allows for stopping payment to vendors for goods sold after selected age on shelf. (For selling goods abandoned by vendor.)

Requirements:

• Requires QuickBooks Point of Sale Pro version 6 or greater and QuickBooks Financial Pro.
• Requires 4-5 user defined fields available in inventory item.
• Requires that sold inventory items not be deleted before running the software.
• Requires an active Internet connection for registration and activation.

  
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