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Landed Costs Demo

Landed Costs Demo

Owned by Sarah Al-Obaidi
Dec 24, 2024
1 min read

  • Set up accrual landed costs in Sandbox

    • Accrual GL Account: 2022-Accrued AP Landed Costs

    • Landed Cost Service Item: Z-Landed Costs

      • Account Posting Setup

  • Item setup: Test Unit B

    • Alternatively, estimated landed costs can be added before posting the Whse Receipt

  • Company Setup > Extended Setup

  • Process a Whse Receipt from a Purchase Order

  • Process Purchase Invoice

    • PI-1000017

    • Review Purchase Invoice Lines

    • Review GL Entries

      • Credit AP GL Account

      • Credit Accrued GL Account

      • Debit Inventory GL Account

  • Review Item Ledger Entries

    • Inventory Value = Unit Cost + Landed Costs

  • Assign Landed Costs for Reporting

    • Create a Purchase Invoice using the corresponding Landed Cost Service Item

    • Assign Whse Receipts on Purchase Invoice

    • PI-1000018

  • Use GF2015 Landed Cost Accrual vs. Actual to analyze the Landed Cost variances by comparing the estimated Landed Costs with the Invoiced Landed Costs by Item and by Posting Date