Does your business rely on imports of physical products? Would you like to know the true costs of these products? Then you should consider the associated costs of bringing those goods into your warehouse.
Do you know what the true cost of your stock is?
Do you pay for foreign freight charges, or local courier charges, customs duty, insurance and other handling charges?
If so, you should consider these costs part of parcel of the cost of your stock otherwise you face the danger of losing money.
The Import Costing module is ideal for businesses that need to automatically calculate the landed costs of imported inventory, by constructing ‘shipments’ from single or multiple existing purchase orders.
Order costs can then be entered by specifying relevant exchange rates and applying user defined shipment costs. Based on the newly calculated unit cost, mark-up methods can also be set. When the costs have been finalised and the goods received, the shipment is then processed to update the inventory and purchase order files.
Improve your business processes by:
- accurately tracking changing costs
- controlling product margins
- managing shipment complexities
- forecasting shipping costs and profits
- handling shipment alterations
- analysing shipment profitability
Shipments are automatically assigned a shipment number and stored in a new shipment file for easy cataloguing. Any existing shipments still in transit are able to be altered at anytime. Additional details relevant to the shipment, such as due dates, exchange rates, country of origin and shipping line may also be entered and stored as a reference for each shipment.
Shipments are automatically totalled and converted to local currency at an updated exchange rate. Multiple user-defined shipment costs are available and apportioned by quantity, value, weight, volume, percentage or manually.
General ledger postings are automatically set up, as well as a supplier invoice for orders. This reduces tedious transaction or account entries, and retains a history of each shipment for later viewing or reporting.