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Frequently Asked Questions
Consignment
 
  1. What is MacysNet Automated Consignment System?
You can now use the MacysNet Consignment System to obtain your sales detail by style and location using the Transaction Summary section of this application.
 
  2. What are the benefits of the MacysNet Automated Consignment System?
 
  1. Your net sales payments will be processed the second week of each fiscal month
  2. You can view all transactions that affect your account 24/7, e.g. sales, customer returns, receipts and merchandise returns. You have the ability to track specific styles by store location
  3. You can download your Transaction Detail to Excel for reconciliation
  3. How often can I view my consignment account?
You can view your account as often as you like, however the consignment sales are updated monthly.
 
  4. How can my account be converted to the MacysNet Automated Consignment System?
 
  1. Macy's, Inc. Accounts Payable will reconcile your account; both parties agree on the stock on hand value.
  2. The stock on hand value will be the beginning balance of your converted MacysNet account.
  3. You will receive a revised consignment agreement to sign that is specific to the MacysNet Automated Consignment System.
  5. How do I start?
For all questions related to Consignment contact your Consignment Account Analyst.
 
  6. How can I get registered for the MacysNet Automated Consignment System?
Register all consignment account numbers using the "MacysNet Profile Update" link on the home page.
 
  7. Why are multiple Macy's, Inc. divisions listed on one check?
All Macy's, Inc. Division transactions are processed in a common system, which generates one check. Separate checks are issued for consignment and non-consignment (asset) accounts.
 
  8. Why do I need to send invoices for merchandise shipped?
 
  1. Without invoices your account will be understated and you may not receive timely payment for sales, see 9 b. below.
  2. You must send/transmit invoice(s) when the consignment merchandise is shipped.
  3. Do not send memo invoices for sales
  9. Will I receive payments for invoices and deductions for RTVs?
The MacysNet Automated Consignment System calculates payments for sales based on:
 
  1. The value of the merchandise on hand at the beginning of the fiscal month,
  2. Plus receipts (invoices),
  3. Less RTVs and other charge backs booked during the month,
  4. Less the value of the merchandise on hand at the end of the fiscal month.
  10. How can I obtain sales, excluding other factors, in dollars?
 
  1. Download the "printable version" of Transaction Summary to an excel document (see Consignment Training Information)
  2. Remove columns that have no activity (RTV, Net Transfers, Receipts, etc.)
  3. Add a column to your excel document beside the Sales column
  4. Multiply the item cost by the sales to obtain your gross sales before any credits and/or debits
  11. What is the Adjmt (Adjustment) column?
It is used for inventory adjustments and item moves (to or from an asset account) processed by the divisions.
 
  1. A negative number, (Inventory Shortage as well as items moved from consignment to asset) reduce the value of the on hand inventory (see 3 d. above) thus results in a payment to you.
  2. A positive number, (Inventory Overage and items moved from asset to consignment) reduce your payment.
  12. What is the Net Transfers column?
The net transfers column represents transfers of items from one location to another, including our fulfillment centers.
 
  13. Why does my trial balance show invoices and deductions?
The MacysNet Automated Consignment System Trial Balance is based on:
 
  1. The value of the merchandise on hand at the beginning of the fiscal month, which is a credit on your trial balance
  2. Plus any invoices for current month deliveries, which are credits on your trial balance
  3. Less any RTVs and other charge backs posted during the month, which are debits on your trial balance
  4. Less the value of the merchandise on hand at the end of the fiscal month, which is a debit on your trial balance
  A Check will be generated for this data the second week of each fiscal month.
 
  14. How can I obtain the specific details for RTVs, Markdown Allowances, Expense Offset or other charges that appear on my trial balance?
 
  1. You can see the detailed information for chargebacks using the Chargebacks and RTVs link on the MacysNet home page.
  2. The Transaction Type Codes & Descriptions provides you with the description of transaction codes.
  15. What should I do with the debits deducted on my check, so that I can reconcile to the sales payment?
 
  1. The debits should be offset by corresponding credits on your books.
  2. Contact your consignment analyst within 20 days to resolve any variances
  16. What is the Beg-On-Hand and End-On-Hand on my trial balance?
 
  1. The Beg-On-Hand is a credit for the value of the merchandise on hand at the beginning of the fiscal month.
  2. The End-On-Hand is a credit for the value of the merchandise on hand at the end of the fiscal month.
  Your trial balance will reflect multiple Beg/End-On-Hand transactions because Macy's, Inc. records the on-hands weekly. Only the beginning and ending balances will feed to check (the rest net to $0.00).
 
  17. Whom should I contact if I have additional questions on Consignment?
Your Consignment Account Analyst, or 513-782-1853.
 
 
  Contact Us if your question has not been answered.