Sometimes you want to track the stock you have for sale on consignment at your customers selling locations. One way to track this stock movement is to use an Inventory Transfer to move the stock you are selling on consignment from the Asset:Stock Account to Asset:StockConsignment. Your stock is moving location even though legally you own it and retain title until sold so it needs to stay in the Asset Account.

An example for moving stock to a consignment status

Setup Asset:Stock and Asset:StockConsignment Accounts.
Setup an inventory item for normal stock and save the transaction.

Click duplicate and then change the item code and description to include “Consignment”. Also change the Asset Category to be Asset:StockConsignment.

Transfer the stock from Asset:Stock to Asset:StockConsignment. This transfer represents “change of physical control” (but not title).

Lastly when you sell the stock use the consignment inventory item in your Sale. If the stock isn’t sold simply reverse the above transfer when the goods are returned to you.