QuickBooks Online Consignee Warehouse Assistance
Budget: $250 – $750 USD
We are new to QuickBooks Online, but not new to our business. Our Finance team require some assistance with the optimal set up of QBO. Although we have existing processes, we are seeking the optimal set up and will adapt our processes. It is therefore easiest to consider this is a brand-new business and therefore not constrained by what happens now.
Our business needs are driven by these supplier/inventory factors:
· We sell products on consignment from multiple suppliers.
· Our suppliers require us to accurately track their inventory.
· Sales can either be for cash and immediate delivery, or for delivery in the future (sometimes several years ahead).
· We pay our suppliers on a quarterly basis for products delivered. This requires a stock report and list of transactions.
· When we sell products, we are paid a small percentage commission on sales price. This must be tracked in a separate account for each supplier and is settled in our quarterly process.
· We sometimes take deposits against future sales, which we hold. There is no requirement to disclose these deposits to suppliers.
· We have agreed a target price for each product, but we are incentivised to achieve higher prices by a performance bonus
o The bonus is calculated by taking the average sale price achieved for all sales of that product. Our current process simply either debits or credits a performance account per supplier, for each sale, with an amount equal to the discount or premium to the target price. The average is calculated over a long period and is settled at the end of our agreed averaging period. We disclose the amount in the performance calculation account to suppliers each quarter.
· We need to produce a balance sheet, P&L, and cashflow statement for each supplier. Clearly inventory and performance account should not feature in our own accounts. We had thought to use a combination of class and location tags to ensure this, but we are open to suggestions.
We also have internal factors which need satisfy:
· We have several teams that are paid performance bonuses based on their teams’ P&L. We currently use an internal pricing transfer model whereby teams by and sell services with a central cost centre. We seek advice on the optimal way to achieve this in QBO
· We have opened a branch in a different country and will need to produce ring-fenced accounts for that country’s tax authorities. We believe that this is achievable by creating a new location in QBO and using our transfer pricing model. Advice on optimal set up for this is also needed.
Expected output.
For a number of complicated reasons, we cannot provide Accountant or user access to our instance of QBO. We therefore require written instructions on how to achieve our desired outcomes.
Realistic, yet competitive bids from competent contenders are expected. Professionalism and adherence to deadlines is of utmost importance to me. Reach out if you fit the profile and can deliver.
Our business needs are driven by these supplier/inventory factors:
· We sell products on consignment from multiple suppliers.
· Our suppliers require us to accurately track their inventory.
· Sales can either be for cash and immediate delivery, or for delivery in the future (sometimes several years ahead).
· We pay our suppliers on a quarterly basis for products delivered. This requires a stock report and list of transactions.
· When we sell products, we are paid a small percentage commission on sales price. This must be tracked in a separate account for each supplier and is settled in our quarterly process.
· We sometimes take deposits against future sales, which we hold. There is no requirement to disclose these deposits to suppliers.
· We have agreed a target price for each product, but we are incentivised to achieve higher prices by a performance bonus
o The bonus is calculated by taking the average sale price achieved for all sales of that product. Our current process simply either debits or credits a performance account per supplier, for each sale, with an amount equal to the discount or premium to the target price. The average is calculated over a long period and is settled at the end of our agreed averaging period. We disclose the amount in the performance calculation account to suppliers each quarter.
· We need to produce a balance sheet, P&L, and cashflow statement for each supplier. Clearly inventory and performance account should not feature in our own accounts. We had thought to use a combination of class and location tags to ensure this, but we are open to suggestions.
We also have internal factors which need satisfy:
· We have several teams that are paid performance bonuses based on their teams’ P&L. We currently use an internal pricing transfer model whereby teams by and sell services with a central cost centre. We seek advice on the optimal way to achieve this in QBO
· We have opened a branch in a different country and will need to produce ring-fenced accounts for that country’s tax authorities. We believe that this is achievable by creating a new location in QBO and using our transfer pricing model. Advice on optimal set up for this is also needed.
Expected output.
For a number of complicated reasons, we cannot provide Accountant or user access to our instance of QBO. We therefore require written instructions on how to achieve our desired outcomes.
Realistic, yet competitive bids from competent contenders are expected. Professionalism and adherence to deadlines is of utmost importance to me. Reach out if you fit the profile and can deliver.