Solution of COGS and Consignment?

SimplexCoda · ‎08-28-2016

So, there have similar questions asked before. Such as how to deal with COGS using square. The idea was to use QuickBooks for that. However, WHat i am looking for is suggestions for a solution that will give me COGS, and be able to handle the small amount of items that our shop has on consignment by providing a report detailing how much is owed to the consigor based on the percentage of the subtotal we agreed to with the consignor. Sounds a lot like Quickbooks, right? Well, the issue with QB is this: we are a municple division and therefore have an accounting department. So, we have the ability to print out reports that detail things ushc as tax reports, etc right from the square dashboard. So, paying $480 a year isnt really needed JUST to use QB for COGS. Now, granted, it would take 28 years to build up to the $14,000 estimated cost of a traditional POS from someone like NCR, which is out of the question, much less just to simply be able to generate a COGS report. But, I was wondering if anyone could suggest something a bit more cost effective (and potentially more automated than the method I would assume you'd use to do this in QB, meaning entering all the inventory info, including cost, into quickbooks, then copy into square and use sync to update QB, then print out COGS report from QB) than this solution.

Sean · ‎08-31-2016

@SimplexCoda - Thanks for taking the time to post such a detailed quesiton. While I can't personally speak to possible options, let's see if the community can't help come up with some suggestions.

@theanysflags2 @drake @UpstateHydro - I know all of you were highly interested in this feature. Did you have any workarounds or advice that you could share? Thanks!

Sean
he/him/his
Product Manager | Square, Inc.

hundleybk · ‎11-26-2017

I realize this question is old, but I think I found a possible solution. I manage photography sales and I need to track whose pictures have sold, not who sold them. The best option I found was to utilize the Dining Option tool. (found under items/settings) You can customize the options and create a custom report that lets you see which persons items were sold and the total sales, but it does not calculate the % they receive from the sale. I'm sure you could easily export the data to a spreadsheet and calculate commission. Unfortunately, you cannot export a custom report, so to export the data, you have to select Item Sales and use Advanced Options -> Display = Dining Option (filter = dining option doesn't give the correct results). The only other problem I have with this, is you can't print the report without expanding all the categories, but it is nice that it shows you the exact items sold under that category. I would prefer the option to print the summary list only. I guess screenshot and print will work for this. I hope this helps anyone who is struggling to find a solution to track sales with a different category.

Consignment · ‎09-30-2018

It may be incorrect to say that there is no 'cost of goods' for consignments in that inventory is not purchased from owners then resold. Inventory is sold on behalf of owners with the consignee acting only as an agent taking a commission from sales proceeds. Regardless, Best Consignment Shop Software is specifically designed for consignment (and resale processing where 'resale' is the purchasing of inventory from individuals (as opposed to B2B) for reselling). Unlike most software programs available today, BCSS is still available for one price ($395 and up) with no ongoing payments. The program is tiered in features and price to avoid paying more than is necessary. https://www.bestconsignmentshopsoftware.com[Redacted]