Consignment goods work much like memo goods, with one exception:  For consignment items, there is a System Option, which, if enabled, will post a credit memo to the consignor (customer) on file.  This would result in a posting to the liability account where store credit is mapped.  The item record will be updated with a payable date just like a memo item; however, the payable date will indicate the date the store credit was applied to the customer account.

Procedure

1. In The Edge, run the same report as we did for Memo Payments Due, except in the Type & Status tab, the Inventory Type will be Consignment rather than Memo.
2. In QuickBooks, enter a bill to the customer, and the offsetting account will be Consignment Payments Due.  

If Consignor Store Credit is set to True in System Options > Consignment Options:

Selling an item posts a store credit immediately, therefore, there are no manual procedures required.

Consignment items Returned to Stock

Much like memo, you can remove the payable if an item is returned within the terms of your consignment agreement.  However, you should check to be certain the credit has not already been redeemed.

If Consignor Store Credit is set to False in System Options > Consignment Options: 

When a sold consignment item is returned to stock, the item is assumed owned and posts to QuickBooks as if it were a typical stock item.  If this item is still within the terms of consignment, you must adjust the item to signify the item is still in fact on consignment.  Do this with a procedure called Remove Payable.

1. Run a report for Inventory > In Stock with the payable date on the Type & Status tab for Consignment, In Stock, and Payable Date = ANY.  This will return a list of in-stock consignment items that have been returned to stock.
2. Research each item to determine whether the item should remain as Payable or if Payable should be removed.
3. Any items which are determined to be on consignment from the vendor, edit the item and remove the payable using the Supervisor menu.

NOTE:  When a consignment item is sold, the item record gets updated with a payable date to reflect that The Edge has posted to Consignment Payments Due.