How to Set Up Landed Cost in QuickBooks Enterprise?

How to Set Up Landed Cost in QuickBooks Enterprise?

QuickBooks Enterprise provides users with a powerful feature known as Landеd Cost, enabling them to efficiently manage expenses associated with their items.

Landеd Cost encompasses various expenditures such as transportation costs, customs fees, and unforeseen charges incurred during the product journey.

Once configured, Landed Cost can bе easily applied to any bill that includes shipping and inventory expenses. In this comprehensive guide, we'll walk you through the steps to sеt up Landed Cost in QuickBooks Enterprise, ensuring accurate cost tracking for your products.

Steps to Set Up Landed Cost: Follow all the steps to set up landed Cost given below

Step 1: Create the Landed Cost Account ● Begin by selecting "Edit" and then "Preferences. " ● From the Preferences menu, choose "Company Preferences" and navigate to the "Items & Inventories" section. ● Click on "Advanced Inventory Options." ● Under the "Landed Costs" menu, select the option for setting up the Landed Cost account. ● Click "Save and Proceed" to save your settings.

Step 2: Map Items to the New Landed Cost Account ● ● ●

Select the appropriate shipping and handling options.

Create a list of shipping and handling materials.

Click "Save and Close" to finalize the mapping.

Creating New Items for Landed Cost ● ● ● ● ● ● ● ● ● ●

To add new items for Landed Cost, create an "Other Charge" item type and integrate it into the account.

Choose a product from the Product List.

Select "Item, " then click "New. " Under the "Edit" menu, choose "Preferences. " In the "Company Preferences" section, select "Items and Inventory."

Click on "Advanced Inventory Options."

Under the "Landed Costs" menu, select "Manage Landed Cost Account. " Click "Save and Continue. " Choose "Add Item" and select the item you want to add.

Finally, click "Save and Close. "

Calculating Landed Cost

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Utilize QuickBooks Enterprise Services to calculate the Landed Cost.

After uploading a bill to QuickBooks Enterprise, click on "View Landed Cost" on any bill.

Steps for Calculating Landed Cost: Here are some steps you need to follow to Calculate Landed Cost: These steps are, Step 1: Including Inventory & Assembly Items Step 2: Include the Cost of Shipping in the Bill Step 3: Calculate the Landed Cost Step 4: Update the Selling Price Lets elaborate each Steps:

Step 1: Including Inventory & Assembly Items ● ● ● ● ●

Select the item.

Decide whether to compute landing charges.

Click "Add bill" under "Inventory and Assembly Items."

Choose the invoice listing the inventory items.

Select "Add a bill."

Step 2: Include the Cost of Shipping in the Bill ● ● ●

Choose the "Add invoices" option under the "Shipping and Handling Fees" column.

Use shipping and handling invoices to calculate the inventory.

Add the bill.

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Step 3: Calculate the Landed Cost

Click on "Split by."

Split the shipping and handling costs between inventory and assembled items based on criteria such as amount, number, percentage, or manually.

Click "Post to the bill" to incorporate the landed costs into the statement.

Step 4: Update the Selling Price ● ● ● ● ●

Decide on the pricing of the goods that need adjustment.

Enter a new asking price.

Click "Proceed and Update" to apply the new pricing.

If pricing remains the same, choose "Skip and Continue."

Click "Save" to complete the process.

Summing Up! By following these steps, you can effectively set up Landed Cost in QuickBooks Enterprise. In case these solutions do not yield the desired results or if you encounter any difficulties, do not hesitate to call our experts at 1-800761-1787.

Source: https://qbsenterpriseservices.reblog.hu/st-up-landd-cost-in-quickbooks-entrpris