Landed Cost

The landed cost terminology will allow the users to deduce the amount of the product shipment, insurance, allocated service charges and many more. These would be especially beneficial if the shipment and the delivery charges on the product are much higher. These prices will be included in the product price and will provide the user to charge the customer upon the purchase of the product.

The landed costs are calculated as per the company and the terminologies of the company operation. The landed cost option can be activated in SIMISE platform by enabling the landed cost option available in the settings menu.

In the settings menu under the valuation tab the user can activate the option landed cost on which he/she will be able to charge the customers based on these.

As the landed costs are enabled in the SIMISE platform the user can now define the various landed costs in the landed costs menu available in the operations tab of the inventory module. To create a new landed cost the user can access the create menu available. In the creation menu the user can apply the landed cost on transfer or manufacturing orders, the vendor bill along with the respective journal where the entry should be made can be selected. The respective manufacturing orders or the transfers can be selected for which the landed cost should apply on.

The split mentored of landed cost in SIMISE can be configured based on the following attributes:

• Equal: Selecting the option enables to equally divide the landed cost.

• By Quantity: cost division based product quantity.

• By Current Cost: costs will be allocated based on the product's current cost.

• By Weight: costs will be divided depending on the product’s weight.

• By Volume: costs will be divided depending on the product’s volume.