How to Record Inventory Sent Out on Memorandum to Another Jeweler
For the most part using a layaway sale is the best way to record merchandise memo'd out.
It's quite similar to a layaway in that the item is still owned by you, but it's not in the on-hand available-to-sell bin.
Since the memo / layaway is not finalized it does not appear on sales figures nor on commissionable sales reports.
A layaway sale can be converted to a charge or a cash sale if the recipient sells it or keeps it 'officially.;
If the recipient keeps just a portion of the entire lot, you'd remove the item from the layaway / memo ticket and add to a brand new sales ticket.
You can create a customized receipt/invoice layout with customized Memorandum wording - probably using the Full Page Receipt as the starting point.
You might also assign such sales a specific Dept Code which can help in reporting. E.g. MO for Memo out Layaways and change to MC for Memo Complete for when converted to a real sale (or when moving a single item from a memo to a completed sale.)
I.e. - the Itemized Sales Report allows you to run reports based on the Dept Code.
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As an alternative, some jewelers use the relocation screen to change the inventory location of items as they are memo'd.
You can print a report for the items that you just relocated /memo'd out today based on the date and the relocation reference.
Similarly, you'd do a relocation back to the standard location if items are returned to you.
You can run Inventory Reports by Location to see what's at each jeweler.
This might be simple and easy if you memo to a limited number of stores but could be less be practical if you had dozens of memo-out customers.