Gidday, This is the latest in a series of blogs I am writing on Abel’s features and what they can do for you.
Did you know Abel has features that are especially for managing consignment stock? Consignment stock is stock held at a customer location awaiting sale or consumption.
You can configure Abel to provide consignment stock capability. Abel’s consignment processes use standard Abel processes but with a special consignment “line type”. Consignment stock is held in both an inventory consignment ledger and a client consignment stock sub-ledger. Abel also provides a consignment stock report, enquiry screen and ledger view to complete the functionality.
To issue consignment stock:
- Create a customer order using the consignment line type (optional).
- Create a customer dispatch using the consignment line type. The dispatch takes the stock out of ‘normal’ stock and puts it into both the inventory consignment ledger and the client consignment stock sub-ledger.
To invoice consignment stock:
- Run the consignment stock report.
- Visit the customer and count the stock.
- Create a customer invoice for the difference between the report and the stock count. The invoice removes the stock from both the inventory consignment ledger and the client consignment stock sub-ledger and bills the customer.
To return consignment stock:
- Raise a customer return using the consignment line type. The customer return process removes the stock from both the inventory consignment ledger and the client consignment stock sub-ledger and puts it back into ‘normal’ stock.
Reports and Enquiries
- The consignment stock report can be run by inventory or by customer.
- View consignment stock by customer in the Client Consignment Stock enquiry screen.
- The Consignment Stock Ledger screen provides a ledger view of consignment stock transactions.
This is a simple example of the Consignment Stock Ledger screen.
So that was a very quick summary of how Abel can help you manage your consignment stock.
If you want to know more about Abel’s features and how they can help your business, please contact your Abel Consultant or an Abel Distributor.
Until next time.