Take this with a grain of salt because this isn’t necessarily my area of expertise and some of what I say is subject to opinion, but you’d want all 220 to go to your inventory account because the definition of landed cost is to evaluate your inventory based on all of the costs it takes to get it there. If you wanted to treat the other stuff as expense (like many do), just simply pay misc. invoices and send that cost to some expense account designated for the purpose.
Rob Bucek
Production Control Manager
PH: (715) 284-5376 ext 311
Mobile: (715)896-3119
FAX: (715)284-4084
[cid:1.234354861@...]<http://www.dsmfg.com/>
(Click the logo to view our site)<http://www.dsmfg.com/>
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com]
Sent: Wednesday, June 10, 2015 2:42 PM
To: vantage@yahoogroups.com
Subject: [Vantage] RE: E9: Landed Costs and GL Impact
Thanks Rob.
So if we had a different account on the misc charge that we used on the landed cost tab, the accounts would be the ap clearing and the expense account?
For example, if we a receipt with a material value of $200 and a total indirect cost of $20
Does that mean my inventory account would be debited $220, my ap clearing would be for $200, and my expense account for the misc charge would be $20?
Joe Rojas | Director of Information Technology | Mats Inc.
dir: (781) 573-0291 | cell: (781) 408-9278 | fax: (781) 232-5191
addr: 179 Campanelli Parkway | Stoughton | MA | 2072
jrojas@... | www.matsinc.com
Ask us about our clean, green and beautiful matting and flooring
[cid:a97701.png@7c52ecf8.4aad4152]
This message is intended only for the individual named. If you are not the named addressee you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately by e-mail if you have received this e-mail by mistake. Please note that any views or opinions presented in this email are solely those of the author and do not necessarily represent those of the company.
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com]
Sent: Wednesday, June 10, 2015 3:22 PM
To: 'vantage@yahoogroups.com'
Subject: [Vantage] RE: E9: Landed Costs and GL Impact
Joe,
I recently set this up in our system not too long ago. Because the landed costs need a receipt(S) to be dispersed across they should his exactly the same accounts you’d expect the receipts to hit unless you want to direct them intentionally elsewhere for some reason. We use it to track freight costs for subcontract ops on a job so ours hits WIP, then AP clearing. We assign a Misc. Charge at AP invoicing and pick the receipt lines associated. You can assign GL controls; Type Misc Charge(purchase) to direct costs (we simply send it to AP clearing). Not sure that it needs to be any more complicated than that.
Rob Bucek
Production Control Manager
PH: (715) 284-5376 ext 311
Mobile: (715)896-3119
FAX: (715)284-4084
[cid:1.234354861@...]<http://www.dsmfg.com/>
(Click the logo to view our site)<http://www.dsmfg.com/>
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com]
Sent: Wednesday, June 10, 2015 2:01 PM
To: vantage@yahoogroups.com
Subject: [Vantage] E9: Landed Costs and GL Impact
Hello,
I’m trying to understand the GL account flow when doing a receipt that has indirect costs that are disbursed across all lines in the receipt using the landed cost tab.
When doing a stock receipt, with no landed cost, I can see in the help file that GL accounts hit by the PUR-STK transaction is the inventory account and the ap clearing account but I would expect that when there are landed costs, there are more account contexts involved.
Anyone know that these might be or point me in the right direction?
Joe Rojas | Director of Information Technology | Mats Inc.
dir: (781) 573-0291 | cell: (781) 408-9278 | fax: (781) 232-5191
addr: 179 Campanelli Parkway | Stoughton | MA | 2072
jrojas@... | www.matsinc.com
Ask us about our clean, green and beautiful matting and flooring
[cid:43d96d.png@ddff83ab.4ebb3330]
This message is intended only for the individual named. If you are not the named addressee you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately by e-mail if you have received this e-mail by mistake. Please note that any views or opinions presented in this email are solely those of the author and do not necessarily represent those of the company.
[Non-text portions of this message have been removed]
[Non-text portions of this message have been removed]
[Non-text portions of this message have been removed]
[Non-text portions of this message have been removed]
Rob Bucek
Production Control Manager
PH: (715) 284-5376 ext 311
Mobile: (715)896-3119
FAX: (715)284-4084
[cid:1.234354861@...]<http://www.dsmfg.com/>
(Click the logo to view our site)<http://www.dsmfg.com/>
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com]
Sent: Wednesday, June 10, 2015 2:42 PM
To: vantage@yahoogroups.com
Subject: [Vantage] RE: E9: Landed Costs and GL Impact
Thanks Rob.
So if we had a different account on the misc charge that we used on the landed cost tab, the accounts would be the ap clearing and the expense account?
For example, if we a receipt with a material value of $200 and a total indirect cost of $20
Does that mean my inventory account would be debited $220, my ap clearing would be for $200, and my expense account for the misc charge would be $20?
Joe Rojas | Director of Information Technology | Mats Inc.
dir: (781) 573-0291 | cell: (781) 408-9278 | fax: (781) 232-5191
addr: 179 Campanelli Parkway | Stoughton | MA | 2072
jrojas@... | www.matsinc.com
Ask us about our clean, green and beautiful matting and flooring
[cid:a97701.png@7c52ecf8.4aad4152]
This message is intended only for the individual named. If you are not the named addressee you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately by e-mail if you have received this e-mail by mistake. Please note that any views or opinions presented in this email are solely those of the author and do not necessarily represent those of the company.
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com]
Sent: Wednesday, June 10, 2015 3:22 PM
To: 'vantage@yahoogroups.com'
Subject: [Vantage] RE: E9: Landed Costs and GL Impact
Joe,
I recently set this up in our system not too long ago. Because the landed costs need a receipt(S) to be dispersed across they should his exactly the same accounts you’d expect the receipts to hit unless you want to direct them intentionally elsewhere for some reason. We use it to track freight costs for subcontract ops on a job so ours hits WIP, then AP clearing. We assign a Misc. Charge at AP invoicing and pick the receipt lines associated. You can assign GL controls; Type Misc Charge(purchase) to direct costs (we simply send it to AP clearing). Not sure that it needs to be any more complicated than that.
Rob Bucek
Production Control Manager
PH: (715) 284-5376 ext 311
Mobile: (715)896-3119
FAX: (715)284-4084
[cid:1.234354861@...]<http://www.dsmfg.com/>
(Click the logo to view our site)<http://www.dsmfg.com/>
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com]
Sent: Wednesday, June 10, 2015 2:01 PM
To: vantage@yahoogroups.com
Subject: [Vantage] E9: Landed Costs and GL Impact
Hello,
I’m trying to understand the GL account flow when doing a receipt that has indirect costs that are disbursed across all lines in the receipt using the landed cost tab.
When doing a stock receipt, with no landed cost, I can see in the help file that GL accounts hit by the PUR-STK transaction is the inventory account and the ap clearing account but I would expect that when there are landed costs, there are more account contexts involved.
Anyone know that these might be or point me in the right direction?
Joe Rojas | Director of Information Technology | Mats Inc.
dir: (781) 573-0291 | cell: (781) 408-9278 | fax: (781) 232-5191
addr: 179 Campanelli Parkway | Stoughton | MA | 2072
jrojas@... | www.matsinc.com
Ask us about our clean, green and beautiful matting and flooring
[cid:43d96d.png@ddff83ab.4ebb3330]
This message is intended only for the individual named. If you are not the named addressee you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately by e-mail if you have received this e-mail by mistake. Please note that any views or opinions presented in this email are solely those of the author and do not necessarily represent those of the company.
[Non-text portions of this message have been removed]
[Non-text portions of this message have been removed]
[Non-text portions of this message have been removed]
[Non-text portions of this message have been removed]