Settle consignments in batch mode
When to use this procedure
Use this procedure to settle with one or more consignors at one time for merchandise sold by printing checks or applying credit to consignor accounts.
Refer to refer to Settle consignments - quick complete for abbreviated instructions on using batch settlement for your consignments.
Refer to Settle consignments for details on settling with consignors using AIMsi's legacy consignment settlement tool with the added options of settling with cash or gift cards.
Example of use
For your business needs, reviewing and settling with consignors monthly is the most time and cost-efficient method of settlement. At the beginning of each month you access the Settle Consignment (Batch Mode) window to review and settle with each consignor who has sold inventory in your store in the past month. Using the batch mode allows you to quickly settle with multiple consignors without accessing each consignor's account individually.
Steps to complete
- On the Modules menu, point to Inventory, then to Consignment & Purchase, then click Settle Consignment (Batch Mode). The Settle Consignment (Batch Mode) window displays.
- Verify and update, if necessary, the store location in the Loc box.
- Enter the account number of the first consignor you are settling with in the Acct box. You can also press F6 to search for and select the customer on the Pick Customer window. Leave this box blank to search for all consignors that meet the remaining search criteria (Loc, Sold Date, Rcvd Date).
- Enter a range of dates in the Sold Date boxes to find consigned inventory sold between those two dates. Leave this box blank to search for all sold inventory that meets the remaining search criteria (Loc, Acct, Rcvd Date).
- Enter a range of dates in the Rcvd Date boxes to find consigned inventory received into your store inventory between those two dates. Leave this box blank to search for all items received into inventory that meet the remaining search criteria (Loc, Acct, Sold Date).
- Select an option in the Check Category box to indicate where to record the settlement in general ledger for those customers set up to receive a check during the settlement process.
- Select an option in the Credit Category box to indicate where to record the settlement in general ledger for those customers set up to receive store credit during the settlement process.
- Verify and update, if necessary, the settlement date in the Date box.
- If desired, select a consignor in the Consignor Account grid. The Consigned Items grid displays the individual items consigned and sold for the selected consignor.
- If desired, in the Consigned Items grid, select the items you want to pay the consignor for.
- Select the Save check box in the Consignor Account grid for each consignor you are settling with.
- Select the Print Receipts check box to print settlement receipts for the consignors.
- If you are printing checks, select the Print Check Number box to include the payment check number on the receipts.
- Click Save.
Did you know? You can right-click in the Consignor Account and Consigned Items grids to display a menu of options that will select or clear all or a group of items instead of selecting and clearing them individually in steps 9 and 10.
To quickly enter today's date, press T on your keyboard. To quickly back-date or forward-date by one day, use the Hyphen key (-) and Equal key (=) on your keyboard (alternatively, use the Minus Sign and Plus Sign keys on your keyboard number pad). To quickly back-date or forward-date by one month, use the Page Up and Page Down keys on your keyboard.
