Through the Landed Cost module, Acctivate allows users to create a vendor bill and allocate the cost across posted inventory transactions. Landed cost allows a user to load items from multiple transactions and enter the vendor bill information, such as invoice date, vendor name, and total amount.
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Landed cost can be generated from specific Inventory Receipts, all Receipts related to a Purchase Order(s), Assemblies, and Transfers. For example, you may receive a vendor bill for freight charges for a load that needs to be allocated over multiple receipts and/or transfers of product.
Review Landed Cost Sessions
- Choose the Transactions list from the left navigation bar.
- Search for and locate the session or transaction types in question.
- Select session for review.
- Sessions saved, but not posted will show Draft on the list, as well as a watermark on the read only window for the transaction. These can be modified before posting by clicking the Edit button.
- Posted sessions will show more information, such as unit cost and amount allocated.
Create Vendor Bill via Landed Cost
- Go to Inventory > Landed Cost.
- Click New (Ctrl+N) on toolbar to create a new Landed Cost session.
- Select the Vendor from the lookup.
- Enter the Invoice Number.
- Check Create Bill to create a vendor bill during the next sync.
- Choose Invoice Date.
- Enter Invoice Total.
- Click Load Items to select the associated inventory transactions to link the new Landed Cost. Users can load items by Receipt(s), Receipt(s) from PO, Inventory Transfer, and Inventory Assembly sessions.
- Continue loading items until all affected sessions are selected.
- You can add products to the transaction on the row marked with an *, but this will affect the entire warehouse value rather than a specific transaction.
- When doing this for lot / serial numbered items using Actual cost, you will need to select the specific lot / serial number.
- Click Allocate By to choose allocation method.
- Quantity: Allocation based on total quantity listed.
- Value: Allocation based on percentage of total value listed.
- Weight: A calculation based on the weight of the product listed on the Tech Specs times the quantity listed on the row.
- Volume: Similar to Weight, but uses the Volume field on the Tech Specs of the item.
- Users can modify the Alloc % and/or Landed Cost amount on each line manually. Make sure to allocate entire cost of the vendor bill to each row. You’ll see a Discrepancy message with the amount outstanding under the Invoice Total until all is allocated.
- Save session.
- When ready to complete, click Post.
- Once posted, users with proper access will be prompted to Preview, Print, or Cancel report printing. This report can be accessed at any time through the inventory reports menu.
