This help describes how customs and freight costs included in a purchase order can be taken into account in the inventory value of products in the Rackbeat and Netvisor systems. The help presents two different options for implementing this.
CONTENTS
If a purchase order includes customs or other freight costs and these costs are variable and you want to include them in the inventory value of products, this can be set up in two ways.
Option 1
Create a product group that is not inventory tracked
Select the more suitable option from below:
Yes, based on quantity: The price of the non-inventory tracked product on the purchase order is allocated to the purchase price of the other inventory tracked products on the purchase order in proportion to the product quantity
Yes, based on value: The price of the non-inventory tracked product on the purchase order is allocated to the purchase price of the other inventory tracked products on the purchase order based on the product value
Add for example the product “freight” and select for it the product group created earlier.
Option 2
Set a suitable additional cost price for existing inventory tracked products that incur freight or transport costs and that you want to include in the inventory value of the product. This is done for each product for which customs must be paid or whose inventory value you want to increase by a fixed percentage.
When the product is added to a purchase order row in Rackbeat, Rackbeat sets the unit price according to the settings (recommended purchase price, unit conversions, possible vendor price list, etc.). In the example, the purchase price is €29, which was the recommended purchase price.
Receive the purchase order.
Check in the Postings report (reporting > postings) that the unit price has been increased by 2.5% (29*1.025=29.725) rounded to €29.73
The freight cost cannot be allocating to the purchase order using Netvisor’s allocation functions, so choose one of the following:
The freight cost is ignored in the inventory value.
Increase the inventory value with an inventory transaction in Rackbeat.
Invoice the purchase order manually in Rackbeat, and leave the purchase order and purchase invoice unallocated to each other in Netvisor.
In this example, we proceed with choice 3 and create an invoice from the purchase order in Rackbeat:
1. When the actual purchase invoice arrives in Netvisor, do not allocate it in the usual way to the purchase order (which would transfer the purchase invoice to Rackbeat).
2. Find the relevant purchase order in Rackbeat and select “Create invoice” from the end of the row
This creates a purchase invoice from the purchase order for the same products.
3. Manually add the previously created Freight product or equivalent and give it the desired price that must be allocated to the products on the purchase order.
In the example, the freight price is €120
If the actual purchase invoice already exists in Netvisor, its number can be added to the invoice in Rackbeat. This is optional but may make things easier later on.
4. Finally, post the purchase invoice on the Rackbeat side. This does not affect Netvisor’s accounts payable or purchase orders in any way. In this case, the price of the product in inventory increases by the amount of the freight costs, but the transaction is not posted twice, as the purchase invoice has already been created from the received purchase order.
5. Check the unit price in the Postings report. The freight added to the invoice has been added to the value of the inventory transaction.
(old value 29.73+120 = 149.725) rounded to 149.73
In this case, the entire freight cost was allocated to one piece, because the invoice had one product row with one piece.
6. The Netvisor purchase order can finally be archived in Netvisor.
Keywords: Rackbeat freight cost, customs, purchase order
This article has been translated using an AI-based translation tool. The contents or wording of these instructions may differ from those in other instructions or in the software.