This glossary is arranged in topical order—you can also look up a particular term by using the search function on your computer (Command Key + "F" on Mac or Ctrl Key + "F" on Windows) to find a particular term.

Please note that this Glossary is still actively being added to, and is not yet an exhaustive list of all the terms you will find in ConsignCloud.

Revenue is equal to gross sales minus discounts and refunds. This is the total amount of money you brought into your store via sales.

Cost of Goods Sold (or COGS) is the cost to your store for all sold items. This is designed to tell you how much you paid in order to get those items in your store and sold (an expense). COGS is equal to the consignor portion of any sold consignment item + the Cost Per Unit (CPU) for any Buy Outright or Retail Items.

Consignor Portion + Retail Cost or Buy Outright Cost for sold items.

Example: $3 Consignor Portion (50% of $6 sale) + $5 Buy Outright CPU (for a jacket you sold for $10) = $8 COGS (your store paid $8 to sell these goods).

Gross Profit is equal to Revenue minus Cost of Goods Sold (COGS)

Profit is equal to Gross Profit minus Taxes. In the Sales Summary Report, this is literally and figuratively your bottom line.

Turnover Ratio is calculated simply as COGS divided by your Average Inventory Value over a given time period. What this number indicates is essentially how many times you sell everything in your store in a given period. Generally, a higher number is better, but that can also be an indicator that your goods are priced too low. Checking your Gross Margin as a percentage of Net Sales, and making sure that you have a good sales mix in your store can help qualify this number.

Net Sales is equal to the tag price of sold items - discounts - tag price of returned items

The bottom line of this term is that this is how much money you actually brought in for a set of items.

Average Value (or Average Inventory Value) is the value of your inventory, based about the consignor portion for each consignment item, or the CPU for each Buy Outright of Retail Item.

Average Inventory Value = Consignor Portion + Retail Cost or Buy Outright Cost for all goods

The formula for this term is exactly the same as the for COGS, with the obvious exception that this isn't just just for sold items, but all items currently in your inventory.

Item Type is the kind of item you are creating in your store. These "types" are all created by individual store, just like brand, colors, etc.

If you are used to the ConsignCloud Classic, you may wonder what the "Item Type" field is. This is the same field as "Description" but has been renamed for greater clarity.

Make sure to not get Item Type confused with Inventory Type! Item Type is a type of item you create in your store, which can be done directly from the Create Item sub-menu. Think "Shirt," "Shoes," "Necklace" or "Book"!

Inventory Type is one of the three inventory types which the ConsignCloud team has created (either Consignment, Buy Outright, or Retail). These are used by every store which uses ConsignCloud—and these three different types of inventory data are the backbone of the entire ConsignCloud system.

Split Price is equal to the Store Portion + Consignor Portion of a sale

Tag Price is equal to Split Price + Inclusive taxes + Buyer's Fee (surcharge)

This is the inventory type which will be defaulted to when you start to create an item for an account. If you do not edit or amend the Inventory Type field, all items for that account will follow this rule.

Split is the percentage of the sale which will go towards to the consignor.

NOTE: Split always refers to the percentage, not the amount owed to a consignor. See "Consignor Portion" for the amount

This is the portion of the sale which is for the consignor.

​EXAMPLE: A 50% Split on a $10 = $5 consignor portion

The opposite of consignor portion, this is the portion of the sale which is for the store.

Terms notify a store with what should happen to an item once it expires. The two types of ConsignCloud terms are "Return to Consignor" or "Donate".

Payout Period is the date range for which a consignor will be paid out. The easiest way to describe this is to say that all Balance Entries in this period will be paid out.

If today's date is August 10, and your date range is July 1 - July 31, and all balance entires between July 1 - July 31 will be paid out, while all entires from August 1 - 10 will be excluded from the settlement.

The medium of payment for paying out an account (Cash, Check, Bitcoin, etc.)