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Procedure documentationUpdating an Item's Cost Price with Landed Costs (Non-Perpetual Inventory Companies) Locate this document in the navigation structure

 

Posting the A/P invoice (service type) for the invoices you receive from your shipping company or customs broker reflects the import costs in the accounting system. You use a landed costs document to update an item’s cost price, which is required for calculating the inventory valuation, gross profit, or any other inventory-related calculation.

You can base a landed costs document on a goods receipt PO, and you can update the landed costs document with the costs as they come in, as long as you have not created a journal entry for the landed costs document yet.

Prerequisites

You have created a goods receipt PO document for your overseas vendor.

Procedure

  1. From the SAP Business One Main Menu, choose   Purchasing – A/P   Landed Costs  .

  2. In the Landed Costs window, select the vendor you purchased the item(s) from.

  3. If the vendor’s currency is different from your currency, specify an exchange rate and select the currency for the landed costs document.

  4. Choose the Copy From button, to base the landed costs document on a goods receipt PO or another landed costs document.

    All item lines are copied into the document.

  5. On the Fixed Costs and Variable Costs subtabs of the Costs tab, enter the following data for the relevant landed costs type and choose the Recalculate button:

    Field

    Description

    Allocation By

    Specify how landed costs are distributed among the items.

    Amount

    Enter the actual amount of the landed costs.

  6. In the footer area of the Items tab, specify the actual customs, if required. If the actual customs differ from the projected customs, choose whether to distribute the difference proportionately among item lines.

  7. Choose the Add button.

    Note Note

    If you want to use one landed costs document for importing goods from several vendors (for example, consolidation purchasing, in which a single container is used for goods from several vendors to decrease import costs), repeat steps 2-4 before adding the document.

    End of the note.

    The landed costs document is added. The goods receipt PO is closed for further allocation of landed costs.

More Information

Landed Costs Window