Consignment Management
Description
Successful entrepreneurship in the constantly moving daily fresh market, such as for example the fruit and vegetables market, means facing the challenges of time, logistics and quality. Retail store and consumers are constantly setting stricter and higher requirements in which they receive more and more support by legislation from governments. The correct balance between sales and purchases is quite a challenge. Very often, imported products are already sold whilst on their way and an amount has to be paid to a third party. Most of the time, these trading companies tend to use consignment management in order to have a continuous clear view on both the logistic and the financial status of the various consignments. Through consignment management, it is possible to register all logistic and financial transactions, and trace them on the level of a consignment contract, consignment overview, but also on the level of the customer, the item or the lot. Furthermore, consignment is able to handle situations without common purchase transaction, but those that are based on commission, joint account, or a minimum guarantee. With this checkout method, the purchase value of the goods is calculated based on the incurred income and costs. This calculated value is settled by using a purchase invoice and/or a -credit memo. This is called self billing. The integration with the consignment card guarantees the complete document flow towards the vendor and the periodic consignment balancing procedure. Consignment management is not influenced by the chosen inventory valuation method and is especially useful for companies using actual costing.
This training is 2 days.
Goal
This training contains all SI Foodware topics that are related to the specific functionalities applicable to a consignment management administration.
- Making decision regarding the setup and use of the granule consignment management;
- Giving advices regarding the setup and the use of the granule consignment management;
- Being able to work with all elements involved;
- Being able to define all activities of the implementation project, applicable to this part of the project.
Topics
The attendee of the training will learn the following:
- Creating purchases based on commission, joint account and minimum guarantee consignments;
- Consignment management in the logistic process;
- Consignment management in the financial process;
- Creating sales reports
- Creating account sales
- Defining results for vendor, consignment contract, consignment, product, customer;
- Monthly closing of consignment management.
Target Group
This training is targeting at those who:
- Purchase, produce and sell consignments;
- Have to take care of reporting towards vendors;
- Have to take care of (monthly) financial reports.
