6 tagged with "Consignment Accounting"
Accounting for consignment arrangements between consignors and consignees, covering inventory ownership and revenue recognition
The Bridal Shop Owner's Bookkeeping Guide: Special-Order Deposits, Consignment Inventory, and the KPIs That Matter
How independent bridal shop owners book special-order deposits under ASC 606, separate memo and consignment from owned inventory, navigate the ABC test for in-house seamstresses, handle multi-state sales tax after Wayfair, capitalize bridal suite buildouts, and track the operational KPIs that signal real profitability.
Antique Dealer and Consignment Mall Bookkeeping: ASC 606, Bailee Inventory, and the Section 1221 Trap
Antique dealers handle per-piece tax classifications, principal-versus-agent revenue questions, and marketplace facilitator sales tax obligations that off-the-shelf retail systems mishandle. This guide explains how to book direct purchases, consignments, and multi-dealer mall sales under ASC 606, the Section 1221 capital-gain trap, and the collectibles 28 percent rate.
Auctioneer and Estate Sale Bookkeeping: Consignment Accounting, Trust Accounts, and the KPIs That Matter
Auction houses recognize revenue net—at the buyer's premium and consignor commission—under ASC 606, not at gross hammer price. A working guide to the consignor settlement liability, state trust-account rules, Form 8300 cash reporting, and the KPIs (sell-through rate, effective commission, settlement cycle time) that signal a healthy auction business.
Auction House Bookkeeping: Consignor Trust Accounts and the Agent vs. Principal Trap Under ASC 606
Auction houses are agents under ASC 606, not principals — book buyer's premium and seller's commission as net revenue, segregate consignor funds in a trust account, and reserve for bidder default on Proxibid and HiBid online sales.
Jewelry Store Bookkeeping: SKU-Level Costing, Memo Goods, Layaway, and Form 8300
A working playbook for independent jewelers covering per-piece SKU costing, lower-of-cost-or-market write-downs on metal price drops, memo and consignment inventory, ASC 606 repair and custom revenue, layaway deposit liabilities, and Form 8300 cash reporting without triggering structuring allegations.
Consignment Accounting: Who Owns the Goods, and Who Books the Sale
In a consignment arrangement the consignor owns the goods and reports the full retail sale plus the commission expense; the consignee is an agent and books only its commission as revenue. Goods stay on the consignor's balance sheet until the end customer buys them.