Search the forum. There have been many prior, detailed discussions of consignment selling. The important thing to understand is that your business does not own anything held on consignment. So none of the inventory features of Manager really apply. They are not designed for that, and their hard-coded features are not intended to work.
If you can make something work for you, good luck. But this really cannot be discussed in terms of proper accounting.
Yes they do, it just the way in which you apply them.
Another extremely naïve comment. How do you think consignment businesses operate - on improper accounting. What @ruarco has described is nothing more then operating a business division (consignment) via a separate Manager business and consolidating rather than within the one Manager business - and there is absolutely nothing improper about that.
You don’t need to operate this through a separate business but if you are comfortable with that structure than that’s perfectly okay. But by the use of control accounts, inventory locations etc you can keep the whole operation within the one business.
Regardless of your separate businesses, or combined, the creation of the “Consignment” Purchase Invoices should always be quantity only, no money values. If you have agreed to a fixed value rather then a commission then that can always be recorded via a custom field.
Albeit, neither structure is going to resolve your specific reporting request.