The Ability Consignment Software uses QuickBooks ® Point of Sale and QuickBooks ® 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.
Receive the items from the supplier, using a receiving voucher just as is normally done in QuickBooks ® Point of Sale, Then just process sales normally. Then, whenever you choose to pay your suppliers, the Consignment add on totals all of the sales information for the selected period, produces a report that contains each suppliers information on separate pages, and then accurately records Bills to Pay into QuickBooks ® and then accurately adjusts the Cost of Goods account in QuickBooks ®.
Using QuickBooks® Point of Sale Pro, you can also provide for automatic price drops based on length of time in stock.
Avoid Confusing Workarounds
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 Software 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.
Keep Accurate Track of Inventory with QuickBooks ®
Consigned inventory is not, and normally should not be reflected in your inventory account. Also, there is no obligation to pay for 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.
Complete Billing Solution
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 Software 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 ®.
System Requirements
- Requires Licensed Copy of QuickBooks ® Point of Sale Basic version 6 through version 10 and QuickBooks ® Pro financial software.
- Items sold during the payment period cannot be deleted before running the software for that period.
- Requires an active Internet connection for registration and activation.
- Uses 1 to 5 custom item fields depending on features used.
Multi-Store Features Included
Additional features:
- Support for up to 20 stores using QuickBooks Point of Sale Multi Store Software.
- Each store can assigned an individual class in QuickBooks Financial.
Web Based Reporting
As a consignment store owner you know how important the relationship between you and your consigners is to your business. Why not allow them to feel more integrated with your business? Our sales reporting website shows consigners what items of theirs have been sold and lets them know payment is pending.
If you are already using our consignment software, updating your reporting website is seamless; just press the Update button and let our software do the rest!
Each consigner will be able to log into the website using their email address and view what items have recently sold, as well as items still in inventory at the store.
We will set up your website upon request as long as you currently have a licensed copy of Ability Consignment Pro or Extended. Every business will have a custom web address so we ask that you give us a call to set up the websites so we can gather all the information we need to get you up and running.
- 2 Month Free Trial
- $19.99 Monthly hosting fee after the trial ends
- No contracts
Screen Shots
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Pricing Information
Ability Consignment is just $149 per year Buy Now
Ability consignment is sold on an annual subscription basis.
The annual subscription includes:
- Ability Consignment product support.
- Free upgrades and new features.
If you choose not to renew your subscription, the software will cease to function.
Ability Consignment Software Saves You Money
how much do you want to spend a year on processing?
| $10,400 |
using manual tracking methods
(8 hours/week X 52 Weeks X $25 Hour) |
| $3,900 |
using QuickBooks and QuickBooks Point of Sale with workarounds
(3 hrs/week X 52 Weeks X $25 Hour) |
| $325 |
using QuickBooks, QuickBooks Point of Sale and Ability Consignment Software
(15 mins/week X 52 Weeks X $25 Hour) |
| |
Estimates to process consignment payments on a weekly basis-pulling and manipulating excel reports, consolidating sales for vendors, printing reports for each vendor, re-entering data into accounting system. Your actual time and costs will vary. |
Additional Information
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.
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.
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.
Separate departments will be required with Ability Consignment Basic Edition; Professional and above editions do not have this limitation
