Dynamics Community Forum Thread Details

URGENT HELP !!!!! Set up of Landed Cost Code Type Charges and auto update for actual costs

Requirement:

Use Goods in Transit functionality in Landed Cost
Have estimated costs use a clearing account for reconciliation (one clearing account per charge type as recommended by Microsoft)
1. Ie International Freight clearing account 7000
2. Domestic Freight clearing account 7101
Be able to apply actual charges against estimated costs in a voyage via function in Tax Invoice Journal
Auto update the inventory costs for the difference between actual and estimated costs with balance going to clearing account by charge code type.

Expected end result of end to end transactions for a FOB order which we process invoice for goods purchase order at shipment are:

CR Accounts Payable (then payment etc)

CR International Clearing Account (accrual for the estimated cost of this charge code)

CR Domestic Clearing Account (accrual for estimated cost of this charge code)

DR Inventory Account

CR Goods in Transit Account

DR International Clearing (for estimate)

DR International Clearing (for variance estimate to actual)

DR Domestic Clearing (for estimate)

CR AP

DR/CR Inventory for revaluation of inventory for new cost

I have set the charge codes up as follows:

Debit Type = Item

Credit Type = Vendor so I can use AP function to match estimate to actual costs.

Issues are:

My understanding is that the posting of the AP tax invoice when linked to the charge codes should post journal 3 above, but it is only posting actuals and no recosting stock or posting variance to clearing
Journal 1 also isn’t ever hitting clearing accounts, it is putting full amount into goods in transit asset. I don’t understand this part as in Microsoft set up it talk to having separate clearing accounts per type of charge, but I can’t see how it ever posts the CR to the clearing accounts with the set up.

Quick Links

Leaderboard