How to Set up Landed Cost in QuickBooks Enterprise?

 By using the landing cost in QuickBooks Enterprises, users have the flexibility to manage the expenses of products without having to make any tedious efforts. The landed Cost takes into its ambit the costs of shipping, fees like customs fees, and all the related unforeseen costs. Once the landing cost gets posted, the same can be viewed for any bill corresponding to which the user adds costs of shipping and inventory. If you are confused about the procedure of setting up landed cost in QuickBooks enterprises, then it is advised to go through the full stretch of this article and perform the steps with careful examination.

 

Step 1: Create the account for Landed Cost

The first step involves the creation of the account for the landed Cost in QuickBooks Enterprises. The easy-to-follow process for the same is given below:

•           Start off by hitting on Edit.

•           Then, head for Preferences.

•           Within Preferences, the user should pick the Company Preferences option and then move to the Items and Inventory section.

•           At this point, opt for Advanced Inventory Options.

•           From the Landed Costs menu, opt for the option for Setting up the landed cost account.

•           Soon after, hit on Save and Continue.

 

Step 2: Mapping of items to the new account

•           The user is required to opt for shipping and handling items.

•           For this, the user needs to craft a list of the shipping and handling supplies and then hit on Save and Close.

 

Procedure for making new items for Landed Cost

•           The user is required to create an item type of Other Charge and then integrate it into the account for adding new items to the account.

•           The following actions will make things clearer:

•           Opt for an item in the Item List.

•           After that, tap on Item and then hit on New.

•           Thereafter, click on Edit, followed by choosing Preferences.

•           Opt for Items and Inventory under Company Preferences.

•           Then, hit on Advanced Inventory Options.

•           Tap on Manage Landed Cost Account in the Landed Costs menu.

•           Now, hit on save and continue.

•           Opt for the Item to add by hitting on the Add Item option.

•           Then, opt for Save and Close.

•           After that, the user is required to calculate Landing Cost in QuickBooks Enterprise Services. The same can be viewed by hitting on view landed Cost on any bill after adding in QuickBooks Enterprise. Steps for the same are given below:

 

1st Step: Including inventory & assembly items.

•           Select the Item first.

•           Decide whether to calculate landed costs.

•           Then, from Inventory and assembly items, opt for the Add bill option.

•           Choose the invoice that contains the items in the inventory.

•           Last, hit on Add a bill.

 

2nd Step: Include the Cost of shipping in the bill.

•           The user needs to head for the Shipping and handling fees column and, therein, tap on the Add invoices option.

•           For computing the inventory, opt for shipping and handling invoices.

•           Finally, the user should add the bill.

 

3rd Step: Calculation of the landed Cost

•           The Split by option needs to be chosen by the user first. The user also has the leverage of splitting shipping and handling costs between inventory and assembled items on the basis of  the following criteria:

o   number,

o   amount,

o   percentage,

o   or manually.

•           Then, hit on Post to the bill for adding landed costs to the statement.

 

4th Step: Getting the selling price updated

The last step involves the updation of the selling prices.

•           The user needs to first choose the prices of items that need alteration.

•           Upon entering a new asking price, hit on Update and Continue.

•           Tap on Skip and proceed if the price is to be kept unchanged.

•           Finally, hit on Save.

 

Conclusions!

That’s it! We hope that this article helped you with a clear understanding of the various steps to set up landed Cost in QuickBooks Enterprises. If you are still surrounded by any doubts, confusion or technical difficulties, then feel no hesitation in reaching out to our QuickBooks experts team at the helpline 1 800 761 1787.