Memo Liability answers “how much merchandise is off our premises on memo right now, and what is it worth?” It’s a snapshot as of a date, with one row per still-out memo line.
Columns
- Memo #, Memo Date, Days Out — days between the memo date and your As-Of date.
- Customer, Salesperson
- Item Type — Jewelry, Watch, Diamond, Colored Stone, Pearl, or Misc.
- Description
- Qty Remaining / Ct Wt Remaining — what’s still out. Partially-returned memos show only the portion not yet returned or sold.
- Cost — your exposure if the goods don’t come back.
- Retail — the value at memo’d price.
The footer totals Lines, Qty, Cost, and Retail — Cost is the number your insurance and risk conversations care about.
Aging
Each line falls into a bucket by Days Out: Current (0–30) / 31–60 / 61–90 / 91+. The 91+ lines are the ones to chase down — goods that have been out a quarter are at the highest risk of loss or stale pricing.
Filters
- As-Of — the snapshot date. Set it to a month-end to see what was out then.
- Customer — focus on one account’s open memos.
- Item Type — narrow to a family (e.g. just Diamonds).
- Age Bucket — jump straight to 91+.
How it differs from Memo Aging
- Memo Aging is the operational chase list — which memos are overdue, by whom, so you can follow up.
- Memo Liability is the financial exposure view — the Cost and Retail dollars sitting out, aged, for risk and balance-sheet purposes. Same underlying open memos, different question.
Tips
- Run it As-Of month-end for a clean consignment-out figure to hand your accountant.
- A high 91+ Cost total is a working-capital leak — those are dollars tied up in goods a customer is sitting on. Filter to 91+ and work the list with Memo Aging to convert or recall them.