Landed Cost and GL Offsets

So, I'm looking at implementing Landed Costs (finally!), and have a few questions:

  • It appears that the Inventory Value/Cost of the item in question is altered accordingly; the offset is the Landed Cost GL -- in our case, Freight/Duties.  However, when the time comes to actually PAY this, how does one generate an applicable Voucher (touching AP) without double-posting to Freight/Duties?  I keep turning this over in my head, and can't get around posting this this item twice.
  • When does the Maintain Inventory Landed Cost number get updated?  I've added a Landed Cost and processed a Receipt of Goods, but that number hasn't changed.
  • From Help: Post Freight Amount to Item:
    • "Select this check box to post freight amounts for purchased items to the same account as the item. The freight amount will be debited to the item's account as follows"
    • Does this refer to the Item's default Inventory GL account, as opposed to the Freight Method's listed GL?
    • Does this also apply to other "Landed Cost" items, not just those on PO Freight totals?

Thanks!

  • 0

    Re: the first point, I think I have it mapped out so that it works if 1) Landed Cost Offset is a COGS account, and 2) AP Vouchers for these are posted against the same Landed Cost Offset account.  Overall, the Freight/Duties (Landed Cost Offset) account will be diminished, while COGS will be increased.

  • 0 in reply to KLou

    Re: 2nd point.  Landed Cost AND Replacement Cost are only updated when A) Update Replacement Costs is enabled in Setup IM Options, B) Not using Standard Valuation, and C) it is a Receipt from the specified Primary Vendor.  All of this magic appears to be contained in spimPostCosts - which is run on any number of inventory transactions (mostly incrementing)