E-commerce
Consignment Sale — Revenue and Vendor Payout
Recording revenue from selling a consignment item and the liability to the vendor.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash / Bank | Asset (+) | 100.00 | - |
| Payable to Consignor (Vendor) | Liability (+) | - | 80.00 |
| Consignment Commission Revenue | Revenue (+) | - | 20.00 |
💡 Accountant's Note
When the item sells, only the store's commission is revenue. The vendor's share is a liability. The consignment memo account is also cleared at this point.
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