Training - Consignment (Allow Other Businesses to Sell Your Items for You)

Hello and welcome to Consignment Webinar.

In this Webinar, we’re going to talk Consignment.

Consignment is a module in CenterEdge that allows for other businesses to sell your items for you.

In this Webinar, you will find out how to setup a Voucher Consignment item, how to track sales, and how to bill the businesses in question through our Accounts Receivable module.

Consignment in short: it is simply a way to get your community businesses involved in your sales. For example, have your local hotels sell Admission or Jump Tickets for you. It really is a great way to get exposure to your business through other businesses.

First place we’re going to go is Manager Console. “Maintenance” on the left-hand side. “System Settings”.

And then in the “Modules” button up-top here.

And this is where you can turn on the Consignment feature if you have it enabled on your license.

I’m going to hit “OK”, I’m going to go back to “Maintenance”, and there is our “Consignment” button right here next to “Class Management”.

I’m going to double-click into it.

And these are the three buttons we can use to configure your Consignment items: Defaults, Vendors, and Vouchers.

“Defaults” is the one I like to look at first.

The “Email” and “Subject” lines are for emailing from Accounts Receivable.

The bottom checkbox means do you want the guest to see the price you have set for the other businesses to pay? My guess is you probably do not want the guest to see this price.

You also have the opportunity to enable whether you want the customer to have a receipt to sign.

I’m going to save that.

We’re going to move onto the “Vendors” button.

What is a Vendor in this context? They are the business partners that will be selling your items.

I have one here called “Hotel Americana”.

I have their email setup and all relevant contact info as well as a credit limit cause we will be dealing with A/R.

“Type of Association” means you are pulling a business from your contacts or if this is a separate association.

I have put a “Note” in the form about what we have agreed on as far as price for the item, but really it could be for any relevant info.

The “Activity” tab shows just that. How many folks have purchased a Consignment item from this Vendor.

If multiple items are being sold by this Vendor, then they would all be listed here.

And if I even drop down these further, I can find more important information.

Next up is “Vouchers”. Find “Hotel Americana”.

Vouchers are the items that the businesses will be selling for you.

It’s important to note, as I jump into this button, that CenterEdge does not create nor track the printed material. That will be up to you and your Vendor to create.

We recommend something in a hard stock. Something that could not be easily replicated or copied.

If you include a Voucher number on the printed material, we can input that number, and that number will appear on the A/R Invoice.

And we strongly recommend taking the material from the guest after redemption as well.

And I’ve already set up a Voucher to be sold here, but let’s go over the relevant points.

On this first “Info” tab here, we have controls asking for guest name, asking for Voucher number, dates to be run, even minimum and maximum quantity amounts.

On the “Items” tab, I can indicate the item in question. In this case I have an admission ticket.

Normally this is a $15 item if you walked into my facility, but the price I agreed on with the Hotel is $8. That is the Vendor price.

I have no way of knowing what the Hotel sold this item for. All I know is every sale I’ll get $8 for it.

More opportunity for “Notes”. “Activity” tab again. This one for the item itself. I even have a “Paid” box to see if the Hotel has paid for that particular sale.

I can quickly see the Voucher Number, the guest name that was used in the transaction.

I’m going to say “OK”

I’m going to “Exit” from the screen, And next we’ll go to the PoS now, and I can show you the sale from an operations standpoint.

Consignment is an Action Button. And I’ve already created that here.

On my “Front Desk” tab, I have my button for the Admission Ticket in question. And if I ring that up, you see the real price for that item is $15.

Instead of ringing this up like normal, I have to hit the Consignment Action Button.

Here I choose the Vendor first, then I choose the Voucher in question. I can put the guest name in. And I can choose the Voucher number that was printed on the hard stock paper that they brought in. Say “OK”.

And then you see the price is now down to the Vendor price of $8.

Information is at the bottom of the screen for easy viewing.

When we “End Order” we see that the $8 is going to A/R, and a balance due is $0 as the guest has already purchased this item from the Hotel, so does not need to pay again.

We “Complete The Order” and the ticket is printed, and we complete the transaction, and your guest is happy.

But what happens next? How do we get Hotel Americana to pay us for that sale?

Accounts Receivable is where we go next.

I’m going to access A/R right here from the PoS screen, but you can access it from any of the Advantage modules.

We need to switch the “A/R Account Type” from “Customers” over to “Consignment”.

If I do a quick search right here, I can find Hotel Americana in question, “Select” that Vendor.

I want to create an Invoice and email or print that for the Hotel.

There are a lot of features in A/R, but I’m going to focus on simply generating the Invoice, paying for it, and how that looks on the Vendor account.

We will have a future Webinar dedicated to A/R.

I’m going to “Generate New Invoice”, “Select” the transaction to be Invoiced, and “Create The Invoice”.

I’m going to say “Yes”, and I’m going to hit “Print the Invoice” because I want to show you what it looks like.

Now we have an Invoice including guest name, Voucher number, date used, and amount due.

We are going to pay for this Invoice now, as if the Hotel brought us a check. But you can pay with other methods of course.

I write in the check number, “Yes”.

No longer do we have any Invoices that need to be paid, and now can see our Payments form in the “Payments” tab.

I’m going to “Close” the A/R account, and I’m going to scoot on over to Manager Console.

Going into “Reports”, “Cash Control”. Here I can find the “A/R Purchase History”. I find this a very valuable Report when it comes to the Consignment.

Saying “OK”, it will bring up our relevant information. And there is the Purchase History by Account of Hotel Americana, and it was paid and Invoiced.

That is all there is to it.

As you see we created an opportunity to build a relationship with another business, work with them to sell one of our items that maybe the guest wouldn’t have known or heard about, and we were compensated on an agreed price as well.

Consignment.

Any questions, feel free to submit them to Training@CenterEdgeSoftware.com and I’ll make sure they are all answered. Or if you wish you can submit them using the Question Icon in the bottom-right corner, and we will email you with a response.

Of course you can call us at 333-598-5934-Option2 as well.

Thank you very much, and I hope you have a great rest of the day.