One of the most important benefits of ConsignCloud is the time that it saves you while processing inventory. An average resale store can spend many thousands of dollars in wasted time every year if it doesn't process inventory efficiently. In ConsignCloud, the savings begins with inventory types, which will determine how you manage the item while it's in your inventory.

There are three types of inventory in ConsignCloud. Consignment items add to account balances automatically when they're sold. Buy Outright and Retail are very similar, but you should still assign them appropriately as you enter inventory. That way, as ConsignCloud adds features for each type, your items will benefit from those features right away. 

  1. Consignment: Consigned items are associated with an account, and if the item sells a portion of the sale price is added to the account balance. Consigned items have a Split field that determines the portion belonging to the consignor. Consigned items are also usually unique, so you'll most often use the default quantity of 1, but you have the option to enter another quantity if you'd like.

  2. Buy Outright: Bought Outright items are owned by the store and credited to their associated account based on the Cost Per field. Bought Outright items are also usually unique, so you'll most often use the default quantity of 1, but you have the option to enter another quantity if you'd like.

  3. Retail: Retail items are owned by the store and don't need to be associated with an account, as no credit is given either at entry or after the item is sold. The account and cost fields are still important, however, as they allow you to track the success of the items over time. Retail items may have multiple quantities grouped into a single SKU to make inventory tracking easier. If you have multiple quantities but don't want to track inventory for an item (meaning it never runs out), just leave the quantity field blank.

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