The Consignment feature allows items to live in your ServiceTitan account without affecting your balance sheet. It allows you to order, count, and move these items between warehouses and trucks without paying for them until they are added to a customer's invoice.
Benefits
Effective consignment and inventory management is essential for ensuring timely delivery to end customers and controlling costs to enhance business profitability. Many shops stock items from vendors on a consignment basis, meaning they have not paid for them and, therefore, do not own the items but have them readily available when needed.
Create consignment purchase orders from consignment vendors and receive those SKUs in a consignment inventory location. The SKUs are treated as consignment inventory, which can be moved to trucks to be consumed on invoices. When a consignment item is converted to owned, a purchase order and receipt is automatically created. If auto bill creation is enabled in your account a bill to pay the vendor is also automatically generated. Otherwise the receipt can be manually converted into a bill. (The consignment conversion transactions can be exported)
Consignment transactions have no accounting impact; they cannot be exported to your accounting software.
Things to Know
You can create and complete a count for consignment inventory (CSN) and owned inventory, then have any necessary adjustment(s) created.
You can convert Serialized Consignment Inventory into Serialized Owned Inventory and have the serial number follow the item through the transition.
If a non-consignment PO Type is selected it will not behave in the expected consignment way, even if the items selected or warehouse has CSN items.
CSN items are handled as standard inventory items if they are used on a non-CSN Transfer Type.
To be considered consignment at a specific location, CSN items must be on the template for that location.
Setup
Setting up Consignment includes multiple steps.
Enable Consignment in Inventory Settings
Configure PO, Return and Transfer types
Configure consignment vendors
Enable Materials and Equipment in Pricebook
Update Templates for Trucks and Warehouses
Read more in the Consignment Setup guide.
Key Workflows
Manage consignment inventory
Order, move, convert, and return consignment inventory between warehouses and trucks. This ensures that best practices are being followed at all locations.