Retail
Sale of Inbound Consignment Goods
Selling an item that belongs to a vendor, where you only act as the agent.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash / Bank | Asset (+) | 200.00 | - |
| Payable to Consignor | Liability (+) | - | 180.00 |
| Consignment Commission Income | Revenue (+) | - | 20.00 |
💡 Accountant's Note
You don't own the inventory. When it sells, you create a liability to the owner for their share and recognize your commission as revenue.
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