Versions

AccountMate 10 for SQL and Express (and higher versions)

Modules

PO, AP

Article #1216

When consumers purchase goods, they may incur costs including freight charges, handling costs, import duties, and other incidental costs necessary for the goods shipment. These inventory-related costs, also known as landed costs, may be recorded either directly to expense/Cost of Goods Sold or added to the received goods purchase costs.

AccountMate implements a Landed Cost feature that allows you to use the accrual method to record the landed costs and increase the inventory cost. This feature also provides several options to allocate these costs to the received goods in each PO receipt transaction.

Article #1216: How to Allocate Inventory-Related Costs Using the Landed Cost Feature provides a comprehensive discussion on how to record the accrual and allocation of landed costs using the Accrue Landed Cost function in the Purchase Order (PO) module. This document also discusses the procedures for recording the accrued landed cost reversal using the AP Invoice Transactions function in the Accounts Payable (AP) module.