Hey everyone. I'm looking for ways that anyone has recorded landed cost when a period is closed? We have issues with vendors not sending bills or BOLs until way after the IR has been created, generally this after a period has closed. We are struggling to find a way to figure out the 'true cost' of an item when landed cost is only recorded on the IR. All we want is to clearly understand cost + fees, taxes, import, etc. = true cost. How has everyone else dealt with this?

Hi Chris, we had to create a customization to check the on-hand stock at beginning of current period and split the landed cost or ppv to inventory or cogs proportionally

This is super helpful. We are using standard costing which I think doesn't help provide an accurate view overtime. Can I ask, is your customization a script that has a formula in it? I was thinking about dumping landed cost information into it's own record and then pulling a script to read and average that out over time and add it to a new 'true cost' field on the item level record.... Does that seem right to you based on what you are doing?

Hi Chris, if you are using the standard costing method, then regardless you have a landed cost in IR or not, the item cost will always be defined as a standard cost, and you can't really get the 'true cost' of the item.

@Fakhri Hilmi Thank you. I was talking to a client about this and they were saying that wasn't true. That we would need to build something to house that information specifically for them