Landed Cost without AP Bill

​@etrojan28 or ​@Laura02

Do you have a generic vendor assigned that you are using in the required vendor field or can we just use any landed cost vendor? Or would an adjustment be the optimal solution for adding fees associated with inventory items as we receive them in? Seems like Acumatica could make the vendor not required in some situations for landed cost.

Hello,

In my system, the Vendor is not required on Landed Cost Codes screen.

The Vendor will be required when the Bills for the landed costs are entered & paid.

Laura

I did not realize you were an acu employee...interesting.  thanks for all your community contributions!

so here is our situation, we buy goods that we need to apply freight costs, storage costs, and handling fees to.  We use avg cost as the valuation method and we were instructed to use landed costs to bake these costs/fees into our inventory item costs.  When we enter a landed cost record a vendor is required in order to progress with any type of entry.  Should we be handling these differently or a better way?
 

Hello ​@bwaldie ,

I became an Acumatica employee January 1 of this year - very exciting! (You’re welcome!)

I agree: 1) Landed Costs are the best way to accurately roll freight, handling charges, and storage costs in with inventory costs, and 2) Vendors are required in the Landed Cost Transactions.  

You could set up one “FREIGHT” or “HANDLING” Landed Cost code (with no Vendor in the Landed Cost code screen) and use these codes for as many vendors as needed. Or, you could configure separate LC Codes for UPS vs. FedEx vs. DHL, if you’d like to allocate the costs differently or post these to different GL’s based on the vendor. 

When the LC Bill is entered (to any Landed Cost vendor), and connected to a PO Receipt, the Landed cost is automatically distributed to the items that were in the shipment, based on the Allocation Method on the Landed Cost code screen.

Landed Costs look like Inventory Adjustments on Inventory reports.

If the items are still in stock when the Landed Cost is received, Landed Cost debits the Inventory Asset.  If the items have been sold before the Landed Cost bill arrives, the debit posts to COGS.  In both cases, the Credits post to the Landed Cost Accrual account from the LC Code screen.

HTH.

Laura