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 don't need to be associated with an account. The account connection is still important so you can pay the supplier with store credit and track the success of the supplier's items over time. Because they are purchased by the store before the sale, these items have a Cost field in item entry. 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. The account connection is still important, however, so you can track the success of the supplier's items over time. Because they are purchased by the store before the sale, these items have a Cost field in item entry. 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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