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Purchasing on consignment and accounting for the inventory.

edited Dec 23, 2019 10:58PM in Accounting / ERP 1 comment

Hi there,

We're doing a significant percentage of our business on consignment terms with our vendors (ie. vendor ship 100 units, we sell 75, and then ship back 25).  Using Advanced Receiving I see we can receive inventory and associate it with the Inventory Received Not Billed account.  However, this inventory is associated with our balance sheet, is it not?  What is the best way to account for this inventory?

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