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Enter landed cost or AP Bill prior to the PO Receipt but does not pay the amount at the moment creating the liability

  • 25 April 2022
  • 8 replies
  • 135 views

Userlevel 1

Hi,

One of our customers practices the following scenario.

They buy an insurance policy prior to the Receipt of goods and create a bill to make the liability for the insurance company. But does not pay that amount until the goods are received. When the goods are received this amount needs to be allocated to the inventory appropriately. 

In Acumatica we couldn’t find a way to create a landed cost/bill prior to the purchase Receipt and attach the Bill to landed cost lately. Since the customer is not paying the amount, we cannot assist them to use the prepayment request method, pay the amount and create a prepayment and apply the landed cost once the goods are received.

Is there a way to handle this kind of scenario? Please assist me on this regard.

Amanda

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Best answer by vkumar 3 May 2022, 05:42

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8 replies

Userlevel 5
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Hi Amanda @apallawala21 ,

I am the ERP Product Manager - Product Success here at Acumatica and would like to meet you virtually to discuss Landed Costs.

We are currently gathering requirements and exploring different business scenarios that are out there.  We are doing this research with the goal of simplifying and improving the Landed Costs functionality.

Can i go ahead and send you a meeting invite with proposed date/times to meet?

Thanks,

Dana

 

Userlevel 1

Hi @Dana Moffat 

Thank you very much for the attention you are paying to our concerns. 

Yes sure, please proceed for a meeting and let me know the date and time. 

Regards 

Amanda 

Userlevel 7
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Hi @apallawala21 

Here is one workaround if it works. 

  • Create a Landed cost document ‘On hold’ status when insurance amount is agreed upon/ Bill received from insurance vendor
  • Until material is received ( PO receipt released ), the Landed cost document would stay on hold status
  • On release of PO receipt, link the receipt on Landed cost document and release
  • Create Bill for landed cost and make the payment.

 

Hope this helps,

Regards,

 

Userlevel 7
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Hi @apallawala21 

 

Adding to the above, if you would want to make the payment ‘before’ releasing this PO receipt, then, you can use an AP Bill document type ‘Prepayment’ (which is more of Prepayment request).

  • Create a ‘Prepayment’ request using AP bills & adjustment screen
  • When goods is received ( irrespective of PO receipt released or not), cut a check against the prepayment request
  • On release of PO receipt, create landed cost document and link it to the PO receipt
  • Release landed cost document and create Landed cost bill
  • Apply landed cost bill to the initial prepayment

Hope this helps,

Regards,

 

Userlevel 5
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Hi @apallawala21 ,

I emailed you some proposed meeting date and times for our discussion.

Thanks,

-Dana

 

 

Hi @Dana Moffat ,

 

my customer is having trouble managing Landed Cost accruals.  LC do not appear on any of the reports or inquiries.  they cause the reconciliation process to the GL to be out of balance.   can you tell me if this is on your list of enhancements for Landed Costs?  i have opened a support case today.

Userlevel 5
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Hi @andrew zeigler ,  can you please DM (direct message) me your support case.

Since we are interviewing and gathering feedback on the subject of Landed Cost, could i reach out to you, send a meeting invite and do a deeper dive into what you are describing?  - Dana

Userlevel 1
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HI, I am looking for a LandedCost Accrual report ( like Accrued AP), so clients can balance to the GL.  Does one exist?  or on the roadmap.

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