I have a client who has been using GP and POP/SOP/INV since 1998 and is just looking to implement Landed Costs. Two big questions are 1) What is best practices in implementing Landed Costs mid-implementation and 2) After a PO Receipt has been posted, they might get a "Landed Cost" invoice they didn't take into consideration on the PO or receipt. Is there a way to apply it to receipt "after the fact"? Thank you!!
*This post is locked for comments
Hi. How do you suggest landed costs are handled when the freight invoice has to be paid before the inventory is physically received? All of our inventory is shipped via ocean freight, and our freight forwarders require payment before we receive the goods.
Thanks in advance.
Nothing more valuable to add for Mr. Santosh. Let me re-emphasize the point to make it clearer, once the inventory receiving and (in-transit) are all posted, you cannot add any landed costs since two things have been recorded in your Dynamics GP;
Therefore, the best method is to consider a reversing entry which will withdraw the inventory cost layers and close the vendor liability as illustrated above in details. Then re-enter the correct receiving and in-transit by considering the landed cost.
I do believe that this should be applied as soon as possible in order not to have your inventory cost layers consumed either by a sales or adjustment out transactions, at then further correction consideration should be highlighted.
Your feedback is highly appreciated,
Thanks Santosh - would this work at the InTransit level too? This is international product that gets received via a PO first into the international site, then we do an in-transit entry to attach the landed cost. Once this has been all received, how do we attach an "after receipt posting" of landed cost to this in transit entry ? Same way? Thanks!
Follow the below link to understand the PO with landed cost item.
community.dynamics.com/.../automatic-close-for-po-with-landed-cost-items.aspx
Hope this helps!!!
Hi,
1. it would be good if you verify your Landed costs before posting.
2. once a receivings transaction has been posted without the landed cost, there is no way to enter a landed cost and invoice match it to the original receipt.
You can however, do the following steps if you do not want to manually adjust the cost in Inventory.
Enter a Return in Purchase Order and adjust the General Ledger.
1. Enter a "return" in Purchase Order to remove the item from inventory.
2. Close the PO (Transactions-Purchasing-Edit PO)
3. Remove the PO to history (Routines-Purchasing-Remove PO)
4. Reenter the PO and receiving with the landed cost information.
regards,
Santosh G
Stay up to date on forum activity by subscribing. You can also customize your in-app and email Notification settings across all subscriptions.
#1
André Arnaud de Cal...
291,280
Super User 2024 Season 2
#2
Martin Dráb
230,214
Most Valuable Professional
#3
nmaenpaa
101,156
Share
Report
All responses (
Answers (