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Using Landed Costs with Dynamics GP
Charles AllenSenior Managing ConsultantBKD [email protected]
February 27, 2014
To Receive CPE Credit
• Participate in entire webinar• Answer polls when they are provided• If viewing this webinar in group
o Complete group attendance form with • Title & date of live webinar • Your company name • Your printed name, signature & email address
o All group attendance sheets must be submitted to [email protected] within 24 hours of live webinar
• If all eligibility requirements are met, each participant will be emailed a CPE certificate within 15 business days of live webinar
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Learning Objectives
Upon completion of this webinar, participants will be able to
• Identify how to set up landed costs (LC) in Inventory• Discuss how to record landed costs in Purchase Receiving• Explain how landed costs affect the value of inventory
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Agenda
• Introduction• What Are Landed Costs• Setting Up Landed Costs• Entering Purchase Orders• Receiving Inventory with Landed Costs• Entering Landed Cost Invoices • Viewing the Effects in Inventory• Correcting Landed Costs• Questions
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Introduction
Charles Allen• Senior Managing Consultant• More than 24 years of experience• Microsoft MVP & MCP
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Introduction
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Introduction
What are landed costs? • Total cost of a landed shipment, including purchase price,
freight, insurance & other costs up to the port of destination. In some instances, it may also include customs duties & other taxes levied on the shipment
• Read more: http://www.businessdictionary.com/definition/landed-cost.html#ixzz2tDfQZ2cE
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Setting Up Landed Costs
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Setting Up Landed Costs
• Create landed cost records (required)• Create landed cost groups (optional)
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Landed Cost Records
• Cards > Inventory > Landed Cost
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Landed Cost Records
• Some key information o Vendor ID – Not required but good if you know who the
vendor will be by default o Cost Calculation Method – How the LC will be calculatedo Invoice Match – Users must match invoice to shipmento Revalue Inventory for Cost Variance o Accounts
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Landed Cost Groups
• Create groups that contain different landed costs• Saves time during data entry• Automates having landed cost on the receipt
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Entering Purchase Orders
• A field is available in Purchasing Item Detail Entry window• It’s not automated but is a good idea for alerts or
customization
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Receiving Inventory with Landed Costs
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Receiving Inventory
• New field & button to consider• Landed Cost Func. Total – populates if purchase
order line had a landed cost group• Landed Cost button – used when you want to enter
landed costs but did not have them on PO line• The button opens Receivings Landed Cost
Apportionment window for editing landed cost information
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Receiving Inventory
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Receiving Inventory
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Receiving Inventory
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Receiving Inventory
• Receiving Posting Journal Contains More Data• Shows landed costs
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Receiving Inventory
• Effect on Received/Not Invoiced Report
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Entering Landed Cost Invoices
Entering Landed Cost Invoices
• Enter using Enter/Match Invoices window• You cannot change the vendor • Mark the LC button & select the type of landed cost
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Entering Landed Cost Invoices
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Viewing the Effect on Inventory
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Viewing the Effect on Inventory• Inventory Receipt shows the unit cost that includes
the landed cost
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Viewing the Effect on Inventory
• When LC invoice is entered with an amount different from estimated landed cost, you can select to revalue inventory with the difference
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Viewing the Effect on Inventory
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Tables Affected
• SEE30303 – Source for Historical Inventory Trial Balance – DOCTYPE will be 8
• POP10700 – Purchasing Landed Cost• POP30700 – Landed Cost Information
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BKD Technologies Support Center
• Microsoft Dynamics GP877.253.7778 toll [email protected]
• Monday - Friday 8 a.m. - 5 p.m. Central time
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CPE Credit
• This presentation may be eligible for CPE credit upon verification of participant attendance; however, credits may vary depending on state guidelines
• For questions, concerns or comments regarding CPE credit, email BKD Learning & Development Department at [email protected]
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Charles Allen | Senior Managing Consultant | 713.499.4629 | [email protected]
Continuing Professional Education (CPE) Credits
BKD, LLP is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.
The information in BKD webinars is presented by BKD professionals, but applying specific information to your
situation requires careful consideration of facts & circumstances. Consult your BKD advisor before acting
on any matters covered in these webinars.
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