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- Enter Type of charge
- Charges are setup at Administration > configuration > Lookups > "ChargeType"
- enter Method of apportioning the charge
- By weight will look at the weight of each item and allocate by weight and is useful for shipping or air freight that is charged by weight
- By Dollar value uses the dollar value on the purchase order
- By volume uses the article volume
- Manual enables you to manually allocate the charges across all related lines
- Foreign currency and conversion rate if required
- Description - add a note to so you can remember what this charge was intended to cover
View the Estimated charges by Purchase Order Line
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New Average cost = (current average cost * current stock qty + qty from the PO * final cost ea) / (current stock qty + PO stock Qty)
Supplier direct to customer (Drop Ship Purchase orders)
Where the supplier is sending direct to a customer a Sales Order lines is marked as Supplier Direct to Customer and on Authorise this creates a PO to the supplier with final address at the customer.
Where the PO has a Complex Landed Cost - the value of the final landed costs in the Sales Order currency is shown for clarity on margin in the sales order currency
Set the Estimate Ready to Use
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| Gliffy | ||||
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Accounting Journals
| Journals for receipt of Stock item with locked estimate | Debit | Credit | Estimate of $20 costs |
|---|---|---|---|
| Stock on Hand - assets | 120 | Increase in stock value | |
| Trade Creditors Liabilities | 100 | Amount paid to stock supplier | |
| Landed cost clearing account - liabilities | 20 | Total allocated other costs for these items based on the estimate | |
| Totals | 120 | 120 | |
| Stock Supplier Invoice | Dr | Cr | Payment to supplier for stock |
| Trade Creditors - Liabilities | 100 | ||
| Goods Received not Invoiced | 100 | ||
| Total | 100 | 100 | |
| CR Invoice Journal for a cost paid (customs) = must be linked to landed cost clearing account | Dr | Cr | Payment of $25 costs |
| Trade Creditors - Liabilities | 25 | ||
| Landed cost clearing account | 25 | ||
| Totals | 25 | 25 | |
| Once a journal line is linked to a landed cost account | |||
| Adjustment journal required once actuals are associated | Dr | Cr | Adjustment of stock from $20 estimate to $25 Actual |
| Landed Cost Expenses To Stock - Expense Account | 25 | Expense account tracking landed costs in separate account | |
| Landed cost clearing account - liabilities | 20 | Clear the clearing account of the estimate value | |
| Stock on Hand - Assets - Credit | 5 | Update the stock on hand with the increase (Decrease) in value required | |
| Totals | 25 | 25 | Result = Stock increases $5 (now $25 more than paid to stock supplier) and Landed Cost Clearing account = 0 Landed cost expense account = Actual = $25 |
| Adjustment Journal if Actuals are used prior to stock receipt | Dr | Cr | When $25 actuals are known prior to receipt of stock |
| Stock on Hand - assets | 125 | Increase in stock value | |
| Trade Creditors Liabilities | 100 | Amount to be paid to stock supplier | |
| Landed cost expenses to stock - expense account | 25 | Expense account tracking landed costs in separate account | |
| Totals | 125 | 125 | Result = Stock increases $25 more than paid to stock supplier Landed cost expense account = Actual = $25 |
GL Control Accounts for Landed Costing
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