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Discover the true cost of your imports and empower your business with accurate profitability.
Tracking the landed costs of imported items is vital for businesses to provide an accurate picture of the actual cost of their products, which is essential for setting competitive selling prices and maintaining profitability.
Understanding the full landed costs of items enables businesses to make informed decisions about which products are the more cost-effective to manufacture and stock and can influence strategic product sourcing decisions.
Uncover hidden expenses, make informed inventory decisions, and enhance your strategic sourcing with our comprehensive landed cost application.
Create a default costing structure to maintain consistency throughout all item costings. Setup and configure the default codes, calculations and posting groups that are then used during item transactions.
Setup and configure multiple costing models and versions to identify the different cost elements of your items, such as commission and duty. Additional user-defined elements can be added to capture costs such as tooling.
Setup and configure multiple trade routes and versions to identify the different costs involved in importing your items from different countries using different transportation methods. Elements such as source and destination ports, container size and incoterms can be captured along with user-defined elements such as additional haulage costs.
An item costing combines a trade route with a costing model to give a unique costing combination specific for the item that can then be tailored as required. Multiple item costings can be used to identify costs for different importation scenarios.
Expected transit costs are calculated using the contents of a container, along with the route that the container is travelling. By using the item costings, the BCN landed costs module can calculate an accurate summary of the costs involved in importing the container.
Once the importation costs invoices are posted within Business Central, they are recorded against the transit order transactions. The landed cost matrix screen gives an actual vs expected overview of each transit transaction, broken down by cost type.
Using the landed cost worksheet, users can manage multiple landed costs at any one time. Without effecting core data, your users will be able to view the effects of changing elements such as duty and haulage. New versions of existing landed costs can then be created at the click of a button.
The landed cost accruals worksheet allows your users to automatically calculate any accruals that may need to be posted to your monthly accounts. Once happy with the suggestions made by Business Central, the accruals can be posted at the click of a button.
Get in touch today and learn how BCN's applications can be used to enhance your Business Central environment.