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LANDING COST IN ACCOXI

Landing cost refers to the total cost incurred to acquire and import a product or goods and have them ready for sale at their final destination. This cost encompasses various expenses associated with the procurement, transportation, and customs clearance of the goods. The landing cost calculation typically includes the purchase price of the goods, freight charges, insurance, customs duties, taxes, and any other costs directly related to bringing the goods to their final location. In Accoxi, you have the ability to input various expenses associated with the acquisition or importation of goods. This system allows you to allocate these expenses to each item on the invoice.

Key Features of Landing Cost:

1. Expense Allocation:

Landing cost allows for the systematic allocation of various expenses incurred during the purchase or import of goods. This ensures a comprehensive overview of the total financial outlay associated with bringing products to their final destination.

2. Purchase Price Integration:

The system seamlessly integrates the purchase price of goods with additional expenses, providing a holistic understanding of the total cost involved in making products available for sale.

3. Freight and Transportation Costs:

The solution includes features for incorporating freight and transportation costs, allowing businesses to assess the impact of logistics on the overall cost structure.

4. Insurance Considerations:

Landing cost takes into account insurance expenses related to the transportation and importation of goods. This comprehensive approach aids businesses in accurately evaluating risk and cost implications.

5. Itemized Allocation:

The system provides a provision to allocate these various expenses to each item on the invoice. This level of granularity enables precise tracking and analysis of costs associated with individual products.

6. Profitability Analysis:

By considering all relevant expenses, the landing cost feature facilitates in-depth profitability analysis. Businesses can make informed decisions about pricing strategies and optimize their sourcing and supply chain processes.

To access the Landing Cost functionality in the Purchase module, follow these steps:

Navigate to the Purchase module in the Accoxi system.
Look for the "Landing Cost" option in the menu.
Click on the "Landing Cost" menu, which will open the Landing Cost search interface.
In the Landing Cost search interface, you can perform further actions such as viewing, editing, or managing landing costs associated with purchases or imports.

By following these steps, you can easily access the Landing Cost feature within the Purchase module of Accoxi and proceed with the necessary actions.

LANDING COST SEARCH

The Landing Cost search function presents a detailed list of all created landing costs. This list includes comprehensive information about each landing cost entry, providing a clear overview of the expenses associated with the purchase or importation of goods. Users can review, analyze, and manage these entries as needed for effective financial tracking and decision-making.

Data Available in Landing Cost Search Table:

Field	Description
#	The "#" symbol indicates the number of transactions
Inv Date	Displays the date of the purchase invoice.
Inv No	Displays the selected purchase invoice number.
Supplier Name	Displays the selected supplier.
Count	It displays the number of landing costs created against a purchase invoice.
Status	During a landing cost transaction, the status will be shown as "Paid."
Total Amount	It displays the taxable value of the landing cost transaction.
Used Amount	It displays the amount allocated to the items in the landing cost transaction.
Balance Amount	It denotes the amount that still needs allocation to the items.
+	Clicking on the "+" icon provides additional details about the landing cost. The following fields are accessible when selecting this icon:
#	The "#" symbol denotes the count of landing costs created for the same purchase invoice.
LC Date	This represents the Landing Cost Date.
LC Ref No	This is the Landing Cost Reference Number generated by the system as a unique identifier.
Status	The status appears as "Paid" when creating a new landing cost.
Allocation Method	When allocating landing costs to items in the invoice, you have the option to choose the allocation method as either quantity or value. The selected method will be indicated here.
Total Amount	The field displays the taxable value of the landing cost transaction.
Used Amount	It indicates the amount allocated to the items in the landing cost transaction.
Balance Amount	It displays the remaining amount yet to be allocate to the items.
View	The "View" icon provides you with the option to review the created Landing Cost. Clicking on it will redirect you to the Landing Cost creation screen, displaying the entered data.
More Option	The "More" option offers you functionalities such as Edit, Allocation, and Cancel.

Menu available in Landing Cost Search

Filter

The Landing Cost filter offers users two efficient search methods. Users can either directly enter the supplier's name in the search bar near the filter option or use the filter drop-down. The filter options include the invoice number, supplier name, status, and date.

When applying date-based filtering, users can specify the starting and ending dates of the purchase invoice. Additionally, status-based filtering categorizes data into statuses such as partially paid, unpaid, overdue, paid, cancelled, unsettled, enabling users to quickly identify and manage Landing Cost based on their status.

Refresh

If the most recent data is not visible, users can click on the refresh icon located in the top-left corner of the page to retrieve the latest information.

+ New Landing Cost

This feature is utilized to initiate the creation of a new Landing Cost. By selecting "Add New + Landing Cost," a new window will appear, presenting the Landing Cost form for completion.

Steps to Create a Landing Cost:

Navigate to the Purchase module and access the Landing Cost section.
Click on the "+Landing Cost" menu located at the top-right corner of the page.
Specify the date and choose the supplier from the available options. The purchase invoice numbers for the selected supplier will be listed in the dropdown menu for the invoice number field.
Select the To Account and Tax Type from the drop-down.
Enter the other mandatory fields.
In the grid of Payment Account, select the expense account, enter the amount, and choose the tax % if applicable.

Once all necessary information is entered, click on "Save" to complete the Landing Cost creation process.

Field	Description
Ref no	The reference number associated with the Landing Cost is a system-generated unique identifier. Users cannot edit the Reference Number, as it is designed to maintain a sequential sequence from the preceding transaction.
Date	The Date field will automatically be populated with the current date. If the user wants to change the date, they can click on the Date menu. A dropdown calendar will appear, allowing the user to select the desired date for the transaction. This field is mandatory.
Party Name	Choose the supplier name that is associated with the purchase invoice for which the expense is incurred.
Inv Number	A list of purchase invoices associated with the selected supplier will be displayed in this dropdown. You can then choose the specific invoice to which this expense is incurred.
Inv Date	The date of the selected purchase invoice will be presented here.
To Account	You have the option to choose the account to which this expense is associated, and it can be either a cash account or a bank account. Additionally, there is a "+" icon that allows you to create a new account.
Tax Type	The "Item Rates" feature provides a dropdown menu with options for selecting "Tax Inclusive" or "Tax Exclusive.
Instrument Type	Select the instrument type, such as cash, cheque/DD, etc. Additionally, there is a "+" icon that allows you to create a new instruments.
Bank Name	Input the name of the bank if it's relevant to the transaction.
Instrument no	If the payment is made through bank instruments, input the instrument number.
Instrument Date	You can enter the instrument date if it is applicable.
Narration	You can input additional information related to this landing cost in this field.
#	The "#" symbol indicates the number of line items
Payment Account	Various accounts are listed in the dropdown menu of the payment account field. You can choose the expense account from this list.
Narration	You can input any information or remarks regarding this line item in the provided field.
Amount	You can input the amount of the expense in this field.
Tax	It displays the list of tax percentages defined for your organization. You can choose the appropriate tax percentage from the dropdown menu.
Tax Amount	The tax amount is calculated based on the entered amount and the selected tax percentage. Additionally, it is influenced by the chosen tax type.
Total Amount	It represents the total value, inclusive of the tax amount.
Delete	The delete icon is utilized to remove a line of an item from the transaction.
Save as Draft	The "Save as Draft" option enables the user to save the progress as draft without finalizing the transaction.
Save	Upon entering all the details, clicking the "Save" option enables the user to create a new landing cost
Clear	The "Clear" option allows the user to delete or eliminate all the entered data, effectively clearing the entire input.
Exit	The "Exit" option is available for navigating to the previous page without saving the landing cost.

Landing Cost View

Clicking on the view icon in the landing cost search screen will display the landing cost screen, presenting the data entered during the saving process.

Landing Cost Allocation

When clicking on the "Allocating Landing Cost" option in the "More" button within the search window, a pop-up screen will appear. In this screen, you can allocate the expenses to the items in the selected invoice. It allows for manual allocation of the total expense amount to each individual item within the respective purchase invoice.

Field	Description
Allocation Type	The allocation type includes Quantity or Value. You can choose the type of allocation process based on either quantity or value.
Total Amount	This field displays the total value of expenses recorded as the landing cost.
Balance	The Balance field indicates the amount that is pending to be allocated to the items.
#	The "#" symbol indicates the number of line items
Item Name	The "Item Name" field displays the items that were purchased in the selected invoice.
Qty	The "Qty" field displays the quantity of the item that was purchased.
Amount	The "Amount" field reflects the total value of the item which is showing in the purchase invoice.
Allocated Amount	You can input the amount of the allocated expense for the line item in this field.
Total	The total value of the item, and allocated amount, will be displayed.
Save	Upon entering all the details, clicking the "Save" option enables the user to allocate the landing cost to items in the invoice.
Close	The "Close" option is available for navigating to the previous page without saving the allocation.

Export

The Landing Cost list is exportable to Excel format. Click the Export button located at the top right corner, near the +New button. Choose the file location and click on save.

+ Icon

Clicking on the "+" icon provides additional details about the landing cost. The following fields are accessible when selecting this icon:

#, LC Date, LC Ref No, Status, Allocation Method, Total Amount, Used Amount, Balance Amount, View, More Option

View

The "View" icon provides you with the option to review the created Landing Cost. Clicking on it will redirect you to the Landing Cost creation screen, displaying the entered data.

More Option

The "More" option offers you functionalities such as Edit, Allocation, and Cancel.

HOW TO CREATE AND ALLOCATE LANDING COST?

LANDING COST IN ACCOXI

Menu available in Landing Cost Search

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