Import Costing

Use Import Costing to create purchase order shipments from importing documents (bills of lading, customs documents, and the like).

The primary import costing function calculates an estimated landed cost for imported inventory lines. The calculation factors in exchanges rates, duties, freight, storage costs and bank charges. You can apportion additional charges over a shipment using the unit weight, volume or dollar value of each (line) item in the shipment. You can also apply duty charges to inventory items when shipments are created, based on pre-defined duty codes assigned to each item.

Import Costing has these features:

A shipment collects multiple purchase orders from (optionally) multiple suppliers together into a single document. The currency of each supplier contained within the shipment must be the same.
You can prepare the shipment in advance of actually receiving the goods, from manifest or bill of lading documents received from the supplier or from the shipping company transporting the goods. You can create a shipment, representing a single supplier's invoice, or multiple invoices (and suppliers). You can spread a single purchase order across several shipments and invoices.
The final (actual) charges for a shipment are rarely known when the shipment is received, or when the shipment is created. Greentree will, however, allow estimates of these to be entered and (optionally) applied across all line items in the shipment so that inventory item costs update using the landed cost for each item received.
Once all supplier invoices have been entered into Greentree, a Shipment Variance Report can be printed for each supplier, allowing an adjustment to be made to the GL Inventory Control Account. Using shipments and the apportioning of costs may apply to local purchases as well as to imported goods.
You can set up AP Non-Stock Codes, against which additional charges for shipments will be entered. You can also use these codes when entering AP invoices, enabling an analysis of estimated versus actual (invoiced) costs.
You can set up an AP Non-Stock Code to represent duty charges, which can be applied to inventory items when shipments are created, based on pre-defined duty codes assigned to each item.
You can also define an overhead rate at an IN Analysis Code level. For example, you can decide to add 15% to the basic cost of each inventory item in a shipment, rather than breaking down the costs and apportioning using accounts payable non-stock codes.