Outbound freight charges can be assigned to Sales Invoices to help track the actual costs of shipments after the vendor's freight invoice has been received.
GoldFinch allows you to set up multiple Outbound Freight Items as Service Items. Ensure Outbound Freight is checked for the item
Create an Account Posting Setup record for the Freight Item. Assign the Freight GL Account to the Account Purchases field.
Process a Purchase Invoice
When you receive the invoice for the freight charges of a shipment from your freight vendor, enter the purchase Invoice using an Outbound Freight Service Item. If the freight bill will be applied to multiple sales invoices, enter multiple lines.
Quick Save the Purchase Invoice
Once the Purchase Invoice for an outbound freight service item has been saved, the Sales Invoice field on the purchase line will be editable.
Enter the posted Sales Invoice number that the freight amount will be applied to.
A Credit entry will be created for the total cost to the Accounts Payable account.
A Debit entry will be created for the Invoiced Freight Costs to the Purchases Account number specified on the Service Item
Process a Purchase Credit Memo
If you receive an outbound freight refund, enter a Purchase Credit Memo using an Outbound Freight Service Item. If the refund will be applied to multiple sales invoices, enter multiple lines.
Process a Sales Credit Memo
If you receive an outbound freight bill-back from a customer, enter a Sales Credit Memo using an Outbound Freight Service Item. If the refund will be applied to multiple sales invoices, enter multiple lines.
Sales Invoice Applied
The total freight cost from the Purchase Invoice, Purchase Credit Memo, and Sales Credit Memo, will be transferred to the Freight Cost field on the Posted Sales Invoice.
Sales Invoice Line Applied
If there are multiple sales invoice lines, the freight cost is allocated to each line based on the quantity on the line.
****If there are multiple purchase invoices applied to the same sales invoice, the Freight Costs will total all purchase invoices applied
Freight Cost Override
There may be times when you want to manually override the Freight Cost on a Sales Invoice. If this is the case, manually enter the amount in the Freight Cost field then put a check in the Freight Cost Override field. Any future purchase invoices assigned to this sales invoice will not affect the freight cost.