Keep a register to record consignments

A company must keep a register to record all incoming and outgoing consignments.

The register must allow one to follow-up in detail all local and foreign consignments.

For each registered consignment a company must be able to prove if the consignment was followed by a final sales, a final purchase or a return of the consignment – or prove that the consignment remains still open in case there was no movement.

Every change in the consignment has to be recorded chronologically, with the corresponding amounts and quantities (carats).

Panis emphasizes the importance to keep a consignment register, as it is first of all a legal obligation. It also facilitates the reporting of consignments on the yearly inventory declaration for diamond dealers, imposed by the Federal Public Service Economy.

For the purpose of completing the yearly inventory declaration, the company should provide to Panis an overview of all consignments, classified into two major categories: incoming and outgoing con-signments. Per category, the overview must show the total value and total carats of the consignments, as well as the total value and total carats of the negative corrections that were made due to final purchases, final sales or the return of goods.