What does “consignment” mean?

Consignment is an agreement between two parties in which the consignor enlists the help of the consignee to put an item up for sale. It is the process of giving care of property to another party, retaining full ownership until the property is sold.

What is a consignment shop or store?

A consignment shop or store is a seller that takes its inventory on consignment, paying the consignor directly once the property has sold to a third party. Many modern consignment stores source inventory using a mix of models, such as buy outright, consignment, and retail or wholesale vendors.

How do you keep track of consignment inventory?

To make things easier on a consignment shop, consignment inventory is best tracked in an inventory management system, which is often a component of a larger point of sale system, like SimpleConsign’s consignment software.

Consignment POS built for resale stores

Manage in-store sales with consignment point of sale software. Fast, accurate, and seamless checkout.

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app.simpleconsign.com

Terminal ▾ LOCATIONMain Street TERMINALRegister 1 DANA R. ADMIN ▾

Checkout Consignment Inventory Customer Returns Transaction Layaway Admin

Scan or enter sell item here…

+ Sell

Scan or enter buy item here…

+ Buy

ConsignorSKUItem NameCategoryDiscountQuantityPriceTotal Price

Sell Item 0

Complete Transaction Cancel Transaction Save Transaction Sell Gift Card

MANAGER ACTIONS

Run End of Day Process Close Terminal

End Of Day

Store: Main Street

	Expected	Actual
Cash Total	312.40	0.00
Check Total	0.00	0.00
MC Total	46.10	0.00
VISA Total	99.37	0.00
AMEX Total	0.00	0.00
Debit Total	28.50	0.00
Total	486.37	0.00
Over/Short		(486.37)

Cancel End of DayFinalize End of Day

Live checkoutFast, accurate, seamless

No duplicate entriesNo manual reconciliationReporting from any location

Loved by resale retailers

284 reviews

210 reviews

186 reviews

Why do consignment shops need point of sale software?

The consignment business model comes with certain accounting complexities:

1Timed or tiered discounting
2Taxes
3Consignor splits
4Other fees

When handled manually, these tasks are time-consuming, and mistakes can be costly.

One saleRegister 1

Wool Trench CoatConsignor 100479$68.00

1Discount schedule10% off after 30 days on the floor−$6.80

2Sales tax8.25%$5.05

Customer pays by card$66.25

Where the money goes

3Consignor split60% to the consignor$36.72

4Card processing fee3%, charged to the consignor−$1.99

Consignor balance$34.73

Store split40% to the store$24.48

How does payment processing work with SimpleConsign?

SimpleConsign’s integrated payment processing product is called SimplePay.

You make a sale

The payment transaction details are sent from your register.

Secure network

Details travel through SimpleConsign’s secure network.

Card issuer approves

The customer’s card issuer approves the payment.

Funds to your account

Once approved, the funds are transferred directly to your account.

Transactions are automated and accurate. You’ll no longer have to go through tedious manual reconciliation.

Integrated Payment Processing with SimplePay

Everything you need to make managing payments easy.

More about payment processing

Accept multiple payment methods

Debit cards, credit cards from major networks like Visa, Mastercard, Discover and American Express, tap payments like Apple Pay, and online payments.

Faster funds

By accepting payments through SimplePay’s integrated merchant account, you can receive next-day funds directly to your bank account instead of waiting days or weeks to cash out.

Secure payment processing

Ensure your customers’ data is safe and secure in every transaction with SimplePay’s secure credit card payment processor.

Competitive rates

Transparent, subscription-based pricing includes your payment gateway. That means we’re able to meet or beat any rate your current processor offers.

No card. No problem

SimpleConsign is your virtual terminal, so you can accept card not present payments over the phone or online.

Automatically synced

SimplePay automatically syncs with SimpleConsign’s reporting and inventory management system, so your business stays in sync without manual maintenance.

Want to experience SimpleConsign for yourself?

Why resale businesses choose SimpleConsign for their consignment POS software

Customer review

“SimpleConsign took my business to the next level… It helped me stop running my retail shop like a “multi-family garage sale”. I no longer had to keep tags, tally consignor accounts manually using paper tickets and manually calculate and write checks at the end of each month.”

★★★★★

Kelly G.

See your store running on SimpleConsign

A live walkthrough using your categories, your consignors, your numbers.

30 minutes, and you pick the time
No pitch, you decide at the end

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FAQs

A consignment POS system is the software that manages sales and inventory for a consignment store. SimpleConsign offers a feature-rich POS system specifically designed to address the complexities of consignment, resale, and secondhand goods businesses, including consignment, buy outright and mixed inventory models.

SimpleConsign’s SimplePay allows your small business to accept multiple payment methods, including debit cards, credit cards from major credit card networks like Visa, Mastercard, Discover and American Express, tap payments like Apple Pay, and online payments.

Yes. SimpleConsign is your virtual terminal, so you can accept card not present payments over the phone or online, making it even easier for customers to pay for their purchases. More about the virtual terminal

Yes, a consignment shop POS system can help with inventory management if it is part of a larger consignment software system like SimpleConsign, where managing and tracking the inventory is a built-in feature.

Can't find your answer here? Get in touch.

Learn more about SimpleConsign’s POS software

Inventory Management Payment Processing Merchandising Consignor and Vendor Management Consignor payout Virtual Terminal