Landed Costs

Overview

Fencescape uses FIFO for inventory costing. A standard 10% markup is added to each item to capture shipping costs, duties and insurance. Certain items offer bulk purchase discounts.

Requirements

• Configure landed costs to allocate based on line cost of the Warehouse Receipt, rather than Quantity

• Set Up Accrual Landed Costs

  • Standard 10% markup for now

  • Setup Accrual GL Account; 2306 Accrued AP Landed Costs

  • Setup Landed Costs Service Item; Z-Landed Costs

  • Configure Account Posting Setup record for Service Item; APS-0000003

  • Update Company Extended Setup with the Accrual GL Account and Service Item

  • Define estimated % landed cost on inventory items

    • GORILLA FENCE (green teak):GFHPGT108

    • GFPPCGT

    • GFUCGT96

• GF2015 Landed Cost Accrual vs. Actual