Manufacturing
Vendor Managed Inventory (Consignment Buy)
Recording the purchase of raw materials that were already sitting in your warehouse but owned by the vendor.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Raw Materials Inventory | Asset (+) | 1,000.00 | - |
| Accounts Payable | Liability (+) | - | 1,000.00 |
💡 Accountant's Note
In VMI, you only 'buy' the material and record the liability the moment you pull the item from the shelf to use it in production.
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