Thursday, April 25, 2019

Landed Cost on Standard Cost Item

When Landed Costs are associated to Item Receipts or Vendor Bills for Standard Cost Inventory Items, they are not capitalized as part of Inventory Asset but are rather charged to Variance Account.

When users would want to capitalize Landed Cost, they should incorporate / add it in the Planned Standard Cost Record then revalue the Standard Cost Inventory Item.

Note that once the Inventory has been revalued with the new cost, there will be no need to allocate Landed Costs to Item Receipts or Vendor Bills. Users may use the Memo Field to indicate which Bill was created for the Landed Cost allocated since the transactions will not show any hyperlinks.


No comments:

Post a Comment