How to Keep Track of Your Consignment Sales and Payouts

Once your items are in a shop, it is easy to lose track of what sold, what was marked down and what you are owed. This guide is for consignors, whether you have a few items in one store or many pieces spread across several, and shows you how to keep simple, reliable records.

Start with the intake receipt

Your records begin at drop-off. Make sure the shop gives you a written or digital receipt that lists every item they accepted, ideally with a description, item or tag number, and starting price. Check it before you leave. If something you brought is missing from the list, ask about it right away.

Keep a copy of your signed consignment agreement with the receipt. It tells you the commission, contract length, markdown schedule, payout rules and pickup deadline, all of which you will need later.

Make your own master list

Even if the shop has a good online account, keep your own record. A simple spreadsheet or notebook works well. For each item, track:

• Shop name and your consignor or account number.
• Item description and the shop's tag or item number.
• Date consigned and contract end date.
• Starting price and any agreed minimum.
• Markdowns and dates, if you can see them.
• Date sold, sale price and your share.
• Date paid and how you were paid.

Add a photo reference for anything valuable so you can match items easily if descriptions are vague.

Use the shop's tools

Many shops offer an online portal, app or emailed statements where you can view your items and sales. Ask how often it updates. If there is no portal, ask how to request a statement, by phone, email or in person, and how often you can do so.

Check your account on a regular schedule, such as every two weeks or monthly, and update your master list each time.

Understand how payouts are calculated

Your share is usually based on the actual sale price, not the original tag price. If an item was marked down or discounted during a sale, your payout reflects that. Some shops also deduct fees, such as account or processing fees. Read your agreement so you can check the math on each statement.

If a number looks wrong, compare the statement to your records and ask the shop politely for clarification. Most errors are simple mix-ups and are easy to fix when you have good notes.

Know the payout schedule and deadlines

• Note when the shop pays, for example on a set day each month or upon request.
• Find out whether you must claim your money and whether unclaimed balances expire.
• Mark contract end dates and pickup deadlines on your calendar.
• Set reminders a week before each deadline so unsold items are not forfeited.

Keep records for taxes

Hold on to your agreements, statements and payout records. Whether consignment income needs to be reported, and how, depends on your situation, such as whether you are selling personal belongings, estate property or running a business. Ask a tax professional what applies to you, and keep records of what you originally paid for items where you can.

Close out each contract cleanly

When a contract ends, confirm in writing which items sold, which were returned to you, and the final amount you are owed. Pick up unsold items on time and check them against your list. Mark the contract as closed in your records once you have been paid in full.

Quick checklist

• Get an itemized intake receipt and keep the agreement.
• Maintain your own list with tag numbers and dates.
• Check the shop's portal or statements on a regular schedule.
• Verify each payout against the sale price and fees.
• Calendar contract end dates and pickup deadlines.
• Keep all records for tax purposes.