Complimentary Invoices are inadequate since the invoice is often received long after goods have been received and shipped out of stock again.
X3 needs true Landed Cost functionality. It would be nice to be able to estimate the value of the landed cost components -possibly initiate this at the time of PO entry and carry through to the PO Receipt. These landed cost components would be pro-rated over the items being received and create RNI entries for the landed cost components. Each of the landed cost components could each be tied to a different supplier and would allow for proper reconciliation of the RNI account. It is not good enough to use an invoice element and dump $ onto a GL account since this is virtually unreconcilable.
Import tracking can be used for this, but is overkill and has far too much overhead for most customer environments.
by: Glenn C. | over a year ago | Distribution
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Since at the time of issuing the PO the specific vendors are not known, it would also be helpful to "add the estimated costs" without specifying the vendor, but instead accruing those costs to a liability account. Same idea as above, but without specifying vendors and using the RNI account.
Matthew C brings up a valuable point regarding the liability account. Ideally the "Cost" accounting code type should have a line on it where the proper accrued expense account can be defined for the landed cost element. Based on the current setup in v7, the only option is to accrue the liability into the standard RNI account which is not preferred for most clients.
We have solved this with an add on written by Sage International - Release date Q2.
Hi. I would like more information on the Sage International add on for landed costs.