How do you track unit cost with consignment sales?

[lrymer]

Hi!  I am a new Square POS user and am setting up inventory for a gift gallery that is all consignment-based.  I've set up each artist in the gallery as a vendor, but I'm wondering at what point you enter the unit cost.  Since I don't incur any cost for these items until they are sold, I don't want them to show on a COG report until I actually incur the cost.  Is the best way to do this to enter the unit cost after the sale is made?  Would it be better not to use the COG report and simply pull a list of sales per vendor each month and manually calculate what I owe each vendor?  Any advice is appreciated.  Thanks!

[BSLprints]

One way, potentially, to do it is to enter the unit cost, but don't receive the inventory. It doesn't (AFAIK) show up in COGS until you 'receive' the item into inventory. So leave them at 0 in stock (you can still sell them in the POS) then at the end of the month, go through and receive all the inventory with -1 in stock and I think you will then get the unit cost counted toward your COGS at that point. Don't take my word for it but I think it may work 🙂

[doukhobor]

We really need a consignment module.

[_Violet]

Hi @doukhobor- Thanks for reaching out to us here on the Square Seller Community 👋
 

This would be considered a feature request. Although this feature isn’t currently available with Square, it’s a great idea and I can see how it would be beneficial to your business.

I’ve shared your feature request with our Product Team, as they are constantly improving our products based on feedback like this. To learn more about how feature requests work, please see this post from one of our Seller Community Moderators.

In the meantime, keep an eye out for any updates, here, in our Seller Community. We appreciate your input.

You can also try the suggestion provided by @BSLPRINTS above as a workaround.