Guest post by Haibin Zhou
Quick intro from Tim: I first saw Haibin’s posts on LinkedIn sometime last year. He is an independent ERP consultant in China and he does Acumatica development work, including creating reports like the one that he takes us through below. Take it away Haibin!
Note: This posted originally appeared on LinkedIn and is reposted here with Haibin’s permission
A Landed Cost Report in Acumatica
The total cost of goods purchased generally includes the purchase price, as well as additional charges, such as freight or other shipping costs and insurance; for an international shipment, it may also include customs duties and other taxes. All these charges, often referred to as landed costs, affect the total product cost. With landed costs report, it could help you accurately analyzes total product cost statistics.
In the Landed cost Report, it builds an information chain to connect business objects:
- Purchase order
- Purchase Receipt
- inventory item
- Landed cost invoice
- IN adjustment for landed cost
- GL Journal for landed cost
- IN Receipt
- GL Journal for receipt.
Create a purchase order and receipt:
Create landed cost bill for the PO receipt. (the currency is EUR, but base currency is USD, so landed cost is 4.71 for base currency).
In this case, the allocation method for landed cost is by QTY.
Landed cost report to help review all information around purchase cost.