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Goods on Consingment basis

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Manpreet Saini

Goods on Consingment basis

Hello,

I'm new to ofbiz.

I've a requirement that our vendors supplies us goods on consignment basis
i.e They provide us the goods and we only need to pay them in the end of the
month for the goods that are sold in a month. And also vendor adds or take
away some part of the consignment at any time.

My query is how this situation can be handle in OfBiz

1) When the vendor supplies us the consignment it get adds to our inventory.
2) Vendor payment Invoice is generated based on the number of pieces sold in
the particular month.
3) We are able to keep track of number of goods added/taken-away by vendor
during a particular month.

Thank you in advance.

Manpreet

Vikrant.Rathore

RE: Goods on Consingment basis

Hi manpreet,

Ofbiz support drop shipments in which vendor ships the goods. In your case if you are stocking the goods then just create a PO, and then receive in warehouse. It would create a liability in your balance sheet which is Uninvoiced Item Receipts.

Then once you sold the goods and vendor issues an invoice you can just create a proforma invoice in your system and the sold items become Accounts Payable and no longer in Uninvoiced Item receipts.

If you want to automate the process of converting the sales order to respective purchase orders directly need some customization.

Regards,
Vikrant

-----Original Message-----
From: Manpreet Saini [mailto:[hidden email]]
Sent: Monday, August 13, 2007 6:04 PM
To: [hidden email]
Subject: Goods on Consingment basis

Hello,

I'm new to ofbiz.

I've a requirement that our vendors supplies us goods on consignment basis
i.e They provide us the goods and we only need to pay them in the end of the
month for the goods that are sold in a month. And also vendor adds or take
away some part of the consignment at any time.

My query is how this situation can be handle in OfBiz

1) When the vendor supplies us the consignment it get adds to our inventory.
2) Vendor payment Invoice is generated based on the number of pieces sold in
the particular month.
3) We are able to keep track of number of goods added/taken-away by vendor
during a particular month.

Thank you in advance.

Manpreet

No virus found in this incoming message.
Checked by AVG Free Edition.
Version: 7.5.476 / Virus Database: 269.11.17/951 - Release Date: 8/13/2007 10:15 AM

No virus found in this outgoing message.
Checked by AVG Free Edition.
Version: 7.5.476 / Virus Database: 269.11.17/951 - Release Date: 8/13/2007 10:15 AM

Scott Gray

Re: Goods on Consingment basis

You would also need to implement supplier/vendor returns which is currently
missing from OFBiz in order to track what they take back.

Regards
Scott

On 14/08/07, [hidden email] <
[hidden email]> wrote:

>
> Hi manpreet,
>
> Ofbiz support drop shipments in which vendor ships the goods. In your case
> if you are stocking the goods then just create a PO, and then receive in
> warehouse. It would create a liability in your balance sheet which is
> Uninvoiced Item Receipts.
>
> Then once you sold the goods and vendor issues an invoice you can just
> create a proforma invoice in your system and the sold items become Accounts
> Payable and no longer in Uninvoiced Item receipts.
>
> If you want to automate the process of converting the sales order to
> respective purchase orders directly need some customization.
>
> Regards,
> Vikrant
>
>
> -----Original Message-----
> From: Manpreet Saini [mailto:[hidden email]]
> Sent: Monday, August 13, 2007 6:04 PM
> To: [hidden email]
> Subject: Goods on Consingment basis
>
> Hello,
>
> I'm new to ofbiz.
>
> I've a requirement that our vendors supplies us goods on consignment basis
> i.e They provide us the goods and we only need to pay them in the end of
> the
> month for the goods that are sold in a month. And also vendor adds or take
> away some part of the consignment at any time.
>
> My query is how this situation can be handle in OfBiz
>
> 1) When the vendor supplies us the consignment it get adds to our
> inventory.
> 2) Vendor payment Invoice is generated based on the number of pieces sold
> in
> the particular month.
> 3) We are able to keep track of number of goods added/taken-away by vendor
> during a particular month.
>
> Thank you in advance.
>
> Manpreet
>
> No virus found in this incoming message.
> Checked by AVG Free Edition.
> Version: 7.5.476 / Virus Database: 269.11.17/951 - Release Date: 8/13/2007
> 10:15 AM
>
>
> No virus found in this outgoing message.
> Checked by AVG Free Edition.
> Version: 7.5.476 / Virus Database: 269.11.17/951 - Release Date: 8/13/2007
> 10:15 AM
>
>

Manpreet Saini

Re: Goods on Consingment basis

Thanxs for the input.

I've one more query regarding the flow - How can we account for Post-dated
Cheques. I'm not able to locate the account setting where we can handle it.

Regards,
Manpreet

On 8/14/07, Scott Gray <[hidden email]> wrote:

>
> You would also need to implement supplier/vendor returns which is
> currently
> missing from OFBiz in order to track what they take back.
>
> Regards
> Scott
>
> On 14/08/07, [hidden email] <
> [hidden email]> wrote:
> >
> > Hi manpreet,
> >
> > Ofbiz support drop shipments in which vendor ships the goods. In your
> case
> > if you are stocking the goods then just create a PO, and then receive in
> > warehouse. It would create a liability in your balance sheet which is
> > Uninvoiced Item Receipts.
> >
> > Then once you sold the goods and vendor issues an invoice you can just
> > create a proforma invoice in your system and the sold items become
> Accounts
> > Payable and no longer in Uninvoiced Item receipts.
> >
> > If you want to automate the process of converting the sales order to
> > respective purchase orders directly need some customization.
> >
> > Regards,
> > Vikrant
> >
> >
> > -----Original Message-----
> > From: Manpreet Saini [mailto:[hidden email]]
> > Sent: Monday, August 13, 2007 6:04 PM
> > To: [hidden email]
> > Subject: Goods on Consingment basis
> >
> > Hello,
> >
> > I'm new to ofbiz.
> >
> > I've a requirement that our vendors supplies us goods on consignment
> basis
> > i.e They provide us the goods and we only need to pay them in the end of
> > the
> > month for the goods that are sold in a month. And also vendor adds or
> take
> > away some part of the consignment at any time.
> >
> > My query is how this situation can be handle in OfBiz
> >
> > 1) When the vendor supplies us the consignment it get adds to our
> > inventory.
> > 2) Vendor payment Invoice is generated based on the number of pieces
> sold
> > in
> > the particular month.
> > 3) We are able to keep track of number of goods added/taken-away by
> vendor
> > during a particular month.
> >
> > Thank you in advance.
> >
> > Manpreet
> >
> > No virus found in this incoming message.
> > Checked by AVG Free Edition.
> > Version: 7.5.476 / Virus Database: 269.11.17/951 - Release Date:
> 8/13/2007
> > 10:15 AM
> >
> >
> > No virus found in this outgoing message.
> > Checked by AVG Free Edition.
> > Version: 7.5.476 / Virus Database: 269.11.17/951 - Release Date:
> 8/13/2007
> > 10:15 AM
> >
> >
>

Jacques Le Roux

Re: Goods on Consingment basis

Administrator

AFAIK there is nothing to deal with Post-dated Cheques in OFBiz. BTW a such cheque is barely legal : a cheque is not a mean of
credit and should be payable as soon as signed.

Jacques

De : "Manpreet Saini" <[hidden email]>

> Thanxs for the input.
>
> I've one more query regarding the flow - How can we account for Post-dated
> Cheques. I'm not able to locate the account setting where we can handle it.
>
> Regards,
> Manpreet
>
> On 8/14/07, Scott Gray <[hidden email]> wrote:
> >
> > You would also need to implement supplier/vendor returns which is
> > currently
> > missing from OFBiz in order to track what they take back.
> >
> > Regards
> > Scott
> >
> > On 14/08/07, [hidden email] <
> > [hidden email]> wrote:
> > >
> > > Hi manpreet,
> > >
> > > Ofbiz support drop shipments in which vendor ships the goods. In your
> > case
> > > if you are stocking the goods then just create a PO, and then receive in
> > > warehouse. It would create a liability in your balance sheet which is
> > > Uninvoiced Item Receipts.
> > >
> > > Then once you sold the goods and vendor issues an invoice you can just
> > > create a proforma invoice in your system and the sold items become
> > Accounts
> > > Payable and no longer in Uninvoiced Item receipts.
> > >
> > > If you want to automate the process of converting the sales order to
> > > respective purchase orders directly need some customization.
> > >
> > > Regards,
> > > Vikrant
> > >
> > >
> > > -----Original Message-----
> > > From: Manpreet Saini [mailto:[hidden email]]
> > > Sent: Monday, August 13, 2007 6:04 PM
> > > To: [hidden email]
> > > Subject: Goods on Consingment basis
> > >
> > > Hello,
> > >
> > > I'm new to ofbiz.
> > >
> > > I've a requirement that our vendors supplies us goods on consignment
> > basis
> > > i.e They provide us the goods and we only need to pay them in the end of
> > > the
> > > month for the goods that are sold in a month. And also vendor adds or
> > take
> > > away some part of the consignment at any time.
> > >
> > > My query is how this situation can be handle in OfBiz
> > >
> > > 1) When the vendor supplies us the consignment it get adds to our
> > > inventory.
> > > 2) Vendor payment Invoice is generated based on the number of pieces
> > sold
> > > in
> > > the particular month.
> > > 3) We are able to keep track of number of goods added/taken-away by
> > vendor
> > > during a particular month.
> > >
> > > Thank you in advance.
> > >
> > > Manpreet
> > >
> > > No virus found in this incoming message.
> > > Checked by AVG Free Edition.
> > > Version: 7.5.476 / Virus Database: 269.11.17/951 - Release Date:
> > 8/13/2007
> > > 10:15 AM
> > >
> > >
> > > No virus found in this outgoing message.
> > > Checked by AVG Free Edition.
> > > Version: 7.5.476 / Virus Database: 269.11.17/951 - Release Date:
> > 8/13/2007
> > > 10:15 AM
> > >
> > >
> >
>

Vikrant.Rathore

RE: Goods on Consingment basis

In reply to this post by Manpreet Saini

You can first create an invoice and then make a payment to clear the invoice the system can even print cheques for you. You can use scheduled transaction in financials component based on top of ofbiz from opentaps.

-----Original Message-----
From: Manpreet Saini [mailto:[hidden email]]
Sent: Tuesday, August 14, 2007 8:40 PM
To: [hidden email]
Subject: Re: Goods on Consingment basis

Thanxs for the input.

I've one more query regarding the flow - How can we account for Post-dated
Cheques. I'm not able to locate the account setting where we can handle it.

Regards,
Manpreet

On 8/14/07, Scott Gray <[hidden email]> wrote:

No virus found in this incoming message.
Checked by AVG Free Edition.
Version: 7.5.476 / Virus Database: 269.11.19/953 - Release Date: 8/14/2007 5:19 PM

No virus found in this outgoing message.
Checked by AVG Free Edition.
Version: 7.5.476 / Virus Database: 269.11.19/953 - Release Date: 8/14/2007 5:19 PM

Vikrant.Rathore

RE: Goods on Consingment basis

In reply to this post by Manpreet Saini

To clarify the details the flow should be like this:
1. The post dated cheque as against an accounts payable.
2. You can issue a payment for the same and then use scheduled transaction in financials from opentaps to schedule the posting of this entry to GL on the date of cheque.
3. You can then later do a bank reconciliation which is easy with financials in opentaps.

Regards,
Vikrant

-----Original Message-----
From: Manpreet Saini [mailto:[hidden email]]
Sent: Tuesday, August 14, 2007 8:40 PM
To: [hidden email]
Subject: Re: Goods on Consingment basis

Thanxs for the input.

I've one more query regarding the flow - How can we account for Post-dated
Cheques. I'm not able to locate the account setting where we can handle it.

Regards,
Manpreet

On 8/14/07, Scott Gray <[hidden email]> wrote:

Manpreet Saini

Re: Goods on Consingment basis

Thanks Vikrant for your inputs, but I'm looking for handling the sales
payment cheques not the purchase payment.

Regards,
Manpreet

On 8/15/07, [hidden email] <
[hidden email]> wrote:

>
> To clarify the details the flow should be like this:
> 1. The post dated cheque as against an accounts payable.
> 2. You can issue a payment for the same and then use scheduled transaction
> in financials from opentaps to schedule the posting of this entry to GL on
> the date of cheque.
> 3. You can then later do a bank reconciliation which is easy with
> financials in opentaps.
>
> Regards,
> Vikrant
>
>
> -----Original Message-----
> From: Manpreet Saini [mailto:[hidden email]]
> Sent: Tuesday, August 14, 2007 8:40 PM
> To: [hidden email]
> Subject: Re: Goods on Consingment basis
>
> Thanxs for the input.
>
> I've one more query regarding the flow - How can we account for Post-dated
> Cheques. I'm not able to locate the account setting where we can handle
> it.
>
> Regards,
> Manpreet
>
> On 8/14/07, Scott Gray <[hidden email]> wrote:
> >
> > You would also need to implement supplier/vendor returns which is
> > currently
> > missing from OFBiz in order to track what they take back.
> >
> > Regards
> > Scott
> >
> > On 14/08/07, [hidden email] <
> > [hidden email]> wrote:
> > >
> > > Hi manpreet,
> > >
> > > Ofbiz support drop shipments in which vendor ships the goods. In your
> > case
> > > if you are stocking the goods then just create a PO, and then receive
> in
> > > warehouse. It would create a liability in your balance sheet which is
> > > Uninvoiced Item Receipts.
> > >
> > > Then once you sold the goods and vendor issues an invoice you can just
> > > create a proforma invoice in your system and the sold items become
> > Accounts
> > > Payable and no longer in Uninvoiced Item receipts.
> > >
> > > If you want to automate the process of converting the sales order to
> > > respective purchase orders directly need some customization.
> > >
> > > Regards,
> > > Vikrant
> > >
> > >
> > > -----Original Message-----
> > > From: Manpreet Saini [mailto:[hidden email]]
> > > Sent: Monday, August 13, 2007 6:04 PM
> > > To: [hidden email]
> > > Subject: Goods on Consingment basis
> > >
> > > Hello,
> > >
> > > I'm new to ofbiz.
> > >
> > > I've a requirement that our vendors supplies us goods on consignment
> > basis
> > > i.e They provide us the goods and we only need to pay them in the end
> of
> > > the
> > > month for the goods that are sold in a month. And also vendor adds or
> > take
> > > away some part of the consignment at any time.
> > >
> > > My query is how this situation can be handle in OfBiz
> > >
> > > 1) When the vendor supplies us the consignment it get adds to our
> > > inventory.
> > > 2) Vendor payment Invoice is generated based on the number of pieces
> > sold
> > > in
> > > the particular month.
> > > 3) We are able to keep track of number of goods added/taken-away by
> > vendor
> > > during a particular month.
> > >
> > > Thank you in advance.
> > >
> > > Manpreet
> > >
> > > No virus found in this incoming message.
> > > Checked by AVG Free Edition.
> > > Version: 7.5.476 / Virus Database: 269.11.17/951 - Release Date:
> > 8/13/2007
> > > 10:15 AM
> > >
> > >
> > > No virus found in this outgoing message.
> > > Checked by AVG Free Edition.
> > > Version: 7.5.476 / Virus Database: 269.11.17/951 - Release Date:
> > 8/13/2007
> > > 10:15 AM
> > >
> > >
> >
>
> No virus found in this incoming message.
> Checked by AVG Free Edition.
> Version: 7.5.476 / Virus Database: 269.11.19/953 - Release Date: 8/14/2007
> 5:19 PM
>
>
> No virus found in this outgoing message.
> Checked by AVG Free Edition.
> Version: 7.5.476 / Virus Database: 269.11.19/953 - Release Date: 8/14/2007
> 5:19 PM
>
>

Vikrant.Rathore

RE: Goods on Consingment basis

Well if you sale and payment is receive via post dated cheques its easy. The amount remains an AR in your system until you really receive a money in the bank. You can have a scheduled transaction setup for cheque payment on the due date.

But in general for post dated cheque doesn't mean payment has been received. It just means the payment would be done on the date the cheque can be encashed. So in Financials you can have a screen for the same.

On your order entry side do not input any received money since you really did not receive a cash it remains in AR automatically until the cash is received.

Its more of an accounting question where you want to record the post dated cheques rather then a question of handling post dated cheques in ofbiz. Indeed in any other ERP the post dated cheques would be handled the same.

-----Original Message-----
From: Manpreet Saini [mailto:[hidden email]]
Sent: Wednesday, August 15, 2007 5:33 PM
To: [hidden email]
Subject: Re: Goods on Consingment basis

Thanks Vikrant for your inputs, but I'm looking for handling the sales
payment cheques not the purchase payment.

Regards,
Manpreet

On 8/15/07, [hidden email] <
[hidden email]> wrote: