Process Accruing Landed Costs

Process a Whse Receipt

• Create a Whse Receipt from a Purchase Order.

• The estimated Landed Cost will be calculated based on the % set up on the Item. You can override the amount as needed.

• Post the Whse Receipt.

• GoldFinch will add the estimated landed cost to the inventory cost as Expected Cost.

Process a Purchase Invoice

• Create a Purchase Invoice from a Purchase Order, or from a posted Whse Receipt.

• Estimated Landed Cost will be copied from Whse. Receipt Lines. You should review and override the amount as needed.

• Post the Purchase Invoice.

• GoldFinch will add the estimated landed cost to the inventory cost as the invoice cost.

Results

Purchase Invoice Line

The Purchase Invoice Line will show the Line Cost of the Item, each Landed Cost amount, as well as the Total Line Cost which include the Landed Costs. 

GL Entries

A Credit entry will be created for Accounts Payable for the merchandise cost amount. 

A Credit entry will be created for each landed cost amount to the Accrued GL Account specified in the Inventory Setup

A Debit entry will be created for the total cost (Unit Cost plus Landed Costs) of the item to the Inventory GL Account. 

Inventory Value

The Inventory Value of the item will be the Unit Cost of the item plus the Landed Costs.