Consignment Billing Scheme
The consignment billing format is a scheme to deceive clients by sending a gift, then extracting money.
How Does Consignment Billing Work?
- Sign up on sites with a Chinese profile to find clients.
- Chat, build relationships, and make them fall in love.
- Ask what gifts they want.
- Promise to buy gifts clients crave.
Consignment Invoice and Inventory
A consignment invoice charges sellers a fee or percentage for reselling valuable goods. Consignment is when items have value, like luxury brands. Stores won’t buy used items back, so thrift stores help sell in exchange for a cut.
Consignment Process and Accounting
Consignment allows the consignee to sell without paying upfront. The consignee pays the consignor only after goods are sold. When sold, the recipient pays the sender a predetermined amount.
Challenges in Consignment
One difficult retail venture is consignment billing dealing with fuel inventory for the vendor then billing for loads updated. Risk of losing payment exists if the vendor delays or refuses. Consignment automation needs visibility into all components: accounting system, price structures, automated data feeds.