consignment transfers

A consignment transfer transaction is created in order to move the inventory product from Consignment Inventory to Product Inventory. Consignment Inventory is where the vendor has supplied the goods to the Company, however the Company will not be invoiced from the vendor until the product is used. A consignment transfer must be created in order to pay for the product and remove it from consignment inventory.

Create a Consignment Transfer

The following procedures are outlined in the Consignment Transfer document:

1. • Creating a Consignment Transfer
   • Posting a Consignment Transfer
   • Journal Transaction

Consignment Transfer Header

The consignment transfer header contains the base data to outline the transaction. The header is divided into three sections to group the data. Most of the information, with the exception of the fields in the General tab, is derived from the associated purchase order.

• General
• Wt Scale Reading
• Derived

1. In General>Warehouses, select Consignment Transfers.
2. In the Warehouse Consignment Transfers main index, click to create a new consignment transfer transaction.
3. Click on the General tab.

General

1. From Cost Center No, select the cost center where the consignment product is stored. The consignment transfer will move the product from 'Consignment' to actual inventory within the selected warehouse.
2. From Vendor No, enter or select the code for the vendor that supplied the consignment product.
3. Trans Date displays the date the transaction was created, which will be the date that the product is transferred into inventory.
4. Event Date displays the date the transaction occurred and the date that the product was transferred. Event Date defaults from Trans Date with an option to modify. The event date does not affect inventory or accounting transactions.
5. Ref No is a unique reference number used to identify the inventory product. This can be automatically or manually entered.
6. Trans Time displays the time the transaction was created.
7. Selecting the Void flag will cancel the consignment transfer.
8. In the Comments field, enter any additional information related to the consignment transfer.

Weight Scale Reading

The Wt (Weight) Scale Reading tab contains information related to the weight scales, if applicable. The fields in the Wt Scale Reading tab are derived from the purchase order, if necessary. The Wt Scale Reading tab is not often used in warehouse transactions.

1. Vehicle No is an optional field to enter the vehicle that will be transferring the consignment product. Vehicles are defined: in Admin>Business>General>Definitions>Vehicles.
2. Scale No is an optional field to enter the scale on which the truck was weighed. Select the scale from the drop-down menu, if desired. Scales are defined in: Admin>Business>General>Definitions>Weight Scales.
3. External Driver is an optional field to identify an external driver that will deliver the consignment product. This is a text field with no validation.
4. External Vehicle is an optional field to identify an external vehicle that will deliver the consignment product. This is a text field with no validation.
5. Gross Zero/Gross Zero Weight Button is used if a zero weight is required.

6. Gross Zero Weight Date Time indicates the date and time that the gross zero weight was recorded.

7. Gross Zero Weight Scale Ref is a reference number generated from the scale for the gross zero weight.

8. Gross Button is the total weight of the vehicle and the product. The button is used if there are scales integrated to the receiving process.  This field can be manually entered or interfaced from a scale.

9. Gross Wt Date Time displays the date and time that the gross weight was recorded at the scale.

10. Gross Wt Scale Ref displays the reference number for the gross weight scale reading.

11. Tare Zero Weight Button is used if a tare zero weight is required.

12. Tare Zero Weight Date Time displays the date and time that the tare zero weight was recorded at the scale.

13. Tare Zero Weight Scale Ref is a reference number generated from the scale for the tare zero weight.

14. Tare/Tare Button is the tare weight of the vehicle. This field can be manually entered or interfaced from a scale.

15. Tare Wt Date Time displays the date and time that the tare weight was recorded at the scale.

16. Tare Wt Scale Ref displays the reference number for the tare weight scale reading.

17. Net is the difference between gross and tare. This field can be manually entered or, if weights are entered, it is calculated automatically.

18. Status is automatically set in the process when the vehicle is weighed. Available options are: No Weight, In  Process, and Complete.

Derived

The fields in the Derived tab default from the purchase order with no option to modify.

1. Record Type displays the type of consignment transfer and will default to 'Warehouse'.
2. Cost Center Name displays the name of the center that stores the consignment product and where the product will be transferred.
3. Vendor Name displays the name of the vendor that purchased the consignment product.
4. Haulage Vendor Name displays the name of the haulage vendor, if applicable.

Consignment Transfer Details

After completing the header of the consignment transfer, the Details tab must be completed in the transfer process.

1. Click on the Details tab and select to create a new line detail.
2. The Product Consignment Inventory dialog box will appear.

 



 

3. Select the product to be transferred and in the Units Entered field, enter the number of inventory units to be transferred out. The user will only be responsible for paying for what is being transferred out (Example: If there are 2500 units in consignment, but only 500 units are entered to be transferred out, the user will only pay for 500 units at this time).   
4. Click 'OK' and the Details screen will appear with fields populated.

 



 

5. Complex PO No indicates the purchase order that is being transferred. Purchase orders must be in 'Posted' status. Purchase orders will be filtered based on the cost center and vendor selected in the header.
6. Product No displays the unique pre-defined number of the product that is being transferred out.
7. Product Name defaults from Product No and displays a description of the product.
8. From Vendor SKU No, select the sku number of the vendor that purchased the consignment product.
9. Vendor SKU Name defaults from Vendor SKU No and displays the name of the vendor.
10. Lot No is a unique identification number for the product, and is generally used for medications and vaccinations.
11. Location No indicates the location where the product is stored.
12. Units Received indicates the number of vendor units being transferred from the vendor’s consignment inventory to the warehouse inventory, allowing the units to be used in transactions. This also determines the number of units that the vendor will be paid for.
13. Unit Description displays a description of the unit. This will default from the selected purchase order and cannot be modified.
14. Units Per indicates the number of units per order. This will default from the selected purchase order, and cannot be modified.
15. Quantity displays the amount of inventory units.
16. Amount displays the price of the consignment product amount prior to add-ons and taxes.  Depending on the purchase order price mode, the amount can be changed.

    • Contract Price: Will only allow the price to be changed on the contract. The Order price will be the Contract price unless the override price flag is selected.

    • Price Master: The price is established based on the price master assigned to the ship-to customer in the Business Usages tab of the Bill-To customer. The price master price cannot be modified unless the override is price flag is selected.

    • Order Price: The price is manually set on the order. There is validation in place to ensure that $0.00 unit price cannot be approved for invoice unless the override zero price flag is selected.

     

17. Expiration Date will default based on the product selected, and is generally used for medications and vaccinations
18. Total Add Ons displays the total price of the add-ons based on the details entered on the purchase order.
19. Total Discounts displays the total price of the discounts based on the details entered on the purchase order..
20. Total Taxes displays the total price of the taxes based on the details entered on the purchase order..
21. Total Amount displays the total price of the transaction including add-ons and taxes. Amount = Amount + Total Add Ons - Total Discounts + Total Taxes.
22. Bill of Lading is a vendors' shipping reference number.
23. In the Comments field, enter any additional information related to the consignment line item.

24. Currency No displays the code for the currency assigned to the purchase order. Currency cannot be modified in the consignment transfer. The currency rate will be determined based on the rate that is in effect for the Trans Date. Currency is defined on the purchase order. If the currency is different than the divisional currency, the rate in effect on the transfer date will be used to calculate the inventory value of the transaction.

25. Currency Name defaults from Currency No and displays a description of the currency.

Additional Consignment Transfer Details

Within the Details tab, there is a child grid with additional details relating to the consignment transfer for add-ons and taxes. The details will default from the purchase order. Depending on the purchase order price mode, the amount can be changed.

Post a Consignment Transfer

Once the consignment transfer has been created and saved, the transfer needs to be posted. The posting process locks the consignment transfer to prevent edits, and creates the journal transaction to record the liability. The UnPost option unlocks the transfer and reverses the journal transactions. Once the consignment transfer has been posted, the purchase invoice can be processed to pay the vendor.

1. In the Warehouse Consignment Transfer index, select the required transfer and right-click to select 'Post'.

Journal Transaction

The journal transaction is a result of the posting of the consignment transfer. The journal transaction will record the value of the product in inventory and record the accrued liability payable to the vendor.