Using Landed Cost - Shipment

Owned by Beth Blok (Unlicensed)
Last updated: Nov 15, 2018 by Beth Blok (Unlicensed)
3 min read

A Shipment is created for the 2 purchase orders to Woo Sun and Woo Dragon by using Purchasing > Landed Cost > Shipments as follows:

  1. Shipment Details

Note

Tick the Use Value of Taxable Import if you would like to enter GST on the Value of Taxable Import tab

 

2. Select the Purchase Orders to be delivered by the shipment

 

3. Check the shipment lines that are to be shipped

 

4. Enter the import costs to be apportioned to the stock received

  • Select the Apportionment method

  • Tick the Apportioned checkbox and the costs will be added as import costs to the stock items on the Shipment Lines tab

  • If you add more purchase orders to the shipment, untick and retick the apportioned checkbox to allow costs to be apportioned across all shipment lines, including the newly added purchase order lines 

 

5. Press Commit for Booking In

 

6. Book in the stock

  • Create a Shipment Bookin using Purchasing > Landed Cost > Shipment Bookin

  • Enter the quantities received or counted in this session - note that a container may be unpacked over many days and multiple Shipment Bookins may be used for a single Shipment

  • Activate the Shipment Bookin form


 

 

7. Confirm stock booked in on Shipment

  • Refresh the Shipment

  • Select the Shipment Lines tab to view the Qty Booked In column populated form the Shipment Bookin form

 

  • Select the Stock Booked In tab to view the lines booked in and the Shipment Bookin number

 

8. Enter the GST Payable to Customs on Value of Taxable Import tab

Note

The value of the imported stock may not be the same as the the amount paid for the shipment. The GST payable to customs, if creditable, will be raised as an amount owing and the grossed up value of the GST assessed does not impact the cost of goods sold in the Jiwa system.

  • Enter the date of the invoice to Customs

  • Tick the Invoice checkbox

  • Press save

 

9. Finalise Purchase Invoice

  • Enter the Invoice No.

  • Adjust the FX Rate if required

  • Check the Invoice and Due dates

  • Tick Invoiced

  • Press save

  • Press Finalise Shipment button

 

Journals for the Using Landed Cost Example

 

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