Landed Cost:
Is the process of capturing all costs associated with the acquisition of goods, enabling businesses to accurately calculate inventory valuation by including these associated costs, whether the costs are known at the time of receipt of the goods, or sometime after.
Step 1. There is only one way to open the 'Landed cost' screen of the Advanced Inventory.
that is from the left menu by clicking on Advance Inventory---->Setup---->Landed Cost.
1. Add Landed Cost: Users click the "Add Landed Cost" button, a new window open in which we can see the Landed cost record.
2.Cost Code: Landed cost codes are used to capture various types of landed costs. For each type of landed costs, your company may encounter, create
a landed cost code to be used to enter and process that type od landed cost. Most landed costs are not fixed amounts associated with a specific inventory item.
3.Vendor Name: A vendor is a party in the supply chain that makes goods and services available to companies or consumers.
4.Edit Button: Users click the 'Edit' button then we have a new screen open that we can update the previous record.
Step 3. Users click the "Add landed Cost" button, a new window open in which we can enter the Landed Cost record.
1.Cost Code: Landed cost codes are used to capture various types of landed costs. For each type of landed costs, your company may encounter, create
a landed cost code to be used to enter and process that type od landed cost. Most landed costs are not fixed amounts associated with a specific inventory item.
2. Description: Users can enter the "Description" of landed cost in this field.
3.Vendor: Users can select the one "Vendor" in this dropdown list.
4.Calculation Method: User select the "Calculation Method" of landed cost in this field.
5.Percentage: Users can enter the "Percentage" in this field.
6.Accrual Purchase Account: Users can select the "Accrual Purchase Account" in this dropdown.
7.Purchase Price Variance Account: Users can select the "Purchase Price Variance Account" in this dropdown.
8.Applicable to Line Item: Users can choose one of the 'Applicable to Line Item' in this dropdown.
9. Created By: When users save the record, we have to show created by in this header.
10. Date Time Created: Users save the record, we have date-time created in this header.
11. Modified By: When users save the record, we have to show Modified by in this header.
12. Date Time Modified: Users update our previous record, we have date-time in this header.
13. Save & Exit: if you click "Save and Exit", then it will redirect to the index page of the 'Landed cost' screen.
14. Save & Continue: If you click "Save & Continue", then it will show you changes that you saved.