MANUALS > Inventory > Inventory Module > Inventory, Update Menu > P/N Initial Load > Initial Loading Consigned Inventory

Initial Loading Consigned Inventory

Consigned inventory refers to parts that are kept in inventory that do not officially belong to the user's company until that part is issued to a Work Order or Aircraft. By default, consigned inventory does not automatically generate Journal Entries or Fixed Asset records in the system because it is not yet officially owned by the user.

Note: When Inventory Switch CONSINED is set to Yes, when consigned parts are issued, a P/O will automatically be created and closed and Journal Entries will be written to reflect the change in ownership.

Consigned parts are entered into inventory via Purchase Order or P/N Initial Load.

To create a consigned P/N Initial Load, the Owner field will need to be populated. Once chosen, the Loan Category field becomes available. Select 'Consigned.'

Note: This functionality is also applicable to the P/N Initial Multi Load window.

Once the P/N Initial Load is saved, the part becomes available in Inventory Transaction. Notice the part is flagged as Consigned and lists the current Owner.

From the Journal Entry Detail Query, notice that Journal Entries have not been created for the part because it is not owned by your company.

When consigned inventory is issued to a Work Order or Aircraft via Manual Issue, Picklist Issue, or Express Issue, the ownership of the part transfers to the user's company. If Inventory Switch CONSINED is set to Yes, Journal Entries will be created automatically for the Consigned parts that were issued.

For detailed information refer to Issuing Consigned Inventory via the Inventory Training Manual.

Consigned Inventory Process