In my country, if I imported items from outside of the country, I must pay some expenses ( such as Insurance, Handling Charges, Packing Fee, Bank Charges, etc ) which must be added to the price of the item that I buy How to record that kind of expenses into the item price when the transaction happened in Navision Financial ? Thanks for the kindness help Best Regards, Agatha
Hi, Standard Navision has “Indirect Cost %” field. If “Direct Cost” is $100 and “Indirect Cost %” is 5% system will post Item Cost $105. Navision Manufacturing has additional field “Overhead Rate”. You can assign this field in Item Card or Purchase Line. (Version 3.0 will have much more sophisticated Costing System.) Valentin Gvozdev BMI Inc.
Hi, Thanks for Mr. Valentin for answering my question I think better I explain much more about my trouble that I face right now, as below If I imported items from outside of the country, I must pay some expenses ( such as I explain before ) I paid that all kind of expenses to other vendor ( I paid the Handling Charges to the Freight company as the vendor, I paid the Bank Charges to Bank as the vendor, I paid the Insurance fee to the Insurance company as the vendor ) That mean I had debt to some vendor for one item that I imported ( which all of the expenses that I paid to the other vendor and the item’s vendor itself must be added to the price of the items that I buy ) If I record the expenses as a Indirect cost as you suggested, that mean the cost will added to the item in the Item Card only, but doesn’t rise the debt in my Vendor Card to the all vendor who are related to this transaction So, my question is how to record the debt in the Vendor Card and at the same time also record the added expenses to the price in the Item Card ? Thanks for the kindness help Best Regards, Hi, Standard Navision has “Indirect Cost %” field. If “Direct Cost” is $100 and “Indirect Cost %” is 5% system will post Item Cost $105. Navision Manufacturing has additional field “Overhead Rate”. You can assign this field in Item Card or Purchase Line. (Version 3.0 will have much more sophisticated Costing System.) Agatha
Let me try to give an illustration for the trouble that I face now ( about the Imported Cost for Items ) I buy ( imported from outside the country - from Vendor A for example ) 100 unit of item @ Rp. 50000 I must pay - Handling Charges to Freight Company for handling that item ( 100 unit )in the amount of Rp. 10000 - Insurance to Insurance Company for that item ( 100 unit ) in the amount of Rp. 5000 - Bank Charges for that item ( 100 unit ) in the amount of Rp. 2000 Totally price that will be added to the item was Rp. 170 per unit ( Rp. 10000 + Rp. 5000 + Rp. 2000 ) / 100 Totally unit price for the item was Rp. 50000 + Rp. 170 = Rp. 50170 That mean I will having debt to the Freight Company, Insurance Company and Bank which will be recorded in my Vendor Card ( for each Vendor above ) Beside I will added the Rp. 170 to my average cost of that items I think the journal for that transaction must be Inventory 5017000 Payable ( Vendor A ) 5000000 Freight Payable 10000 Insurance Payable 5000 Bank Payable 2000 So … how I recorded that transaction in NF ? Thanks for the help Best Regards, Agatha
Stay with reality! You get 4 invoices from four different “vendors”: Payable ( Vendor A ) 5000000 Freight Payable 10000 Insurance Payable 5000 Bank Payable 2000 In the invoice from the vendor you enter qty (100), Price (50000) and indirect costs (170). Doing that, you make sure that your vendor bill reads 5’000’000 but the inventory of these items is internally saved as 5’017’000. That’s all about the vendor invoice. For freight, Insurance and bank you simply record new invoices without any reference to the items purchased. ------- With best regards from Switzerland Marcus Fabian