We wholesale and consign our items (handmade products), as well as having retail online and in 2 separate retail store locations. Recording how items are taken out of inventory and tagged in a proper manner seems difficult in Square - but we are newbies and still figuring it out.
We need a method that we can remove items and add a reason such as “for wholesale” or “for consignment, as we don't get paid immediately for the items (plus the pricing is different), but need to remove them from our inventory.
We are currently handling this by either discounting the product 100% and naming the discount “wholesale” or “consignment” – but then this adds to our gross revenue and doesn’t accurately reflect net revenue - or we are doing an inventory 'cycle count' and adding a note that we removed items and the reason. We can’t accurately account for our net income using this method either - and it's very cumbersome.
Even if we could just 'remove inventory' and have added reasons for removal such as 'for wholesale' or 'for consignment' we could at least more accurately track product.
Anyone out there have this issue? Ideas?
