how to handle consignment sales

AI generated answer (using internal Slack threads):

Handling consignment sales in NetSuite can be a bit tricky, but there are a few methods that have been discussed in the threads. One way to handle consignment sales is to use zero dollar item receipts. This allows you to track the quantities of items in each location without having the inventory values show up on the balance sheet. However, this method can be challenging when you have consigned items of the same type as another item in your warehouse. To get around this, you could use separate SKUs or separate locations to delineate consignment. Another method is to use lot numbers or serial numbers. This can be particularly helpful if you can apply the same lot to more than one item. However, distinguishing which serials are consigned versus not can be a challenge. NetSuite Consignment Stock Management SuiteApp might be able to help. This SuiteApp allows you to manage consignment inventory in a vendor's warehouse. However, the inventory will show up in your account even if you wipe it to a $0 value, which could affect your COGS reporting. Another solution is to use a custom item field to store remote inventory and show it on item transactions. This can be updated via a daily feed or direct integration. You could also use a script to run a saved search of open sales orders with that item on it in real time to know the variance and availability. Lastly, you could use a custom record to map your SKU to the vendor's SKU, along with a quantity box. This allows you to automate the updating of their CSV (or API) to keep the custom records updated. This will allow you to pull searches on it, etc. You can get extra fancy and deduct your newly created PO's against that number. You can also break it down by vendor on the same record. Remember, these are just some of the methods discussed in the threads and may not be the best solution for your specific situation. Always test these methods in a sandbox environment before implementing them in your live account. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******