Inventory costs

Contributing Cover User IconKath
7 Posts
Contributing Cover User
Australia
IconKath
Contributing Cover User

7Posts

0Kudos

0Solutions

Inventory costs

Hi

On the advice of our accountant we have begun to allocate our import and freight costs to our inventory items, giving us a total landed cost for each item.

My problem is sometimes I dont get invoices for these costs until the goods have been sold, thus I cant allocate them to a particular item because there is zero stock on hand, giving me a zero quantity but not zero value. I can get around this by deleting the sale, entering the import/freight costs and then reinstating the sale but that seems to be very inefficient. Is there an easier way around this?

Any help would be appreciated.

Thanks

Kath

1 REPLY
MYOB Staff Post RienaP
1,811 Posts
MYOB Staff Post
New Zealand
RienaP
MYOB Staff Post

1811Posts

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266Solutions

Re: Inventory costs

Hi @IconKath,

 

This is a tricky one where your Accountant would be the best person to give you professional advice on this.

 

I have provided you a link to the Help page on Overseas purchases and Import costs (Australia) and please see through and let us know how you go. While this goes through a simple recording of the purchases & freight costs transactions I think the best way is to continue doing what you were doing as it is clean and gives you an accurate result. 

 

Should you have further queries please do not hesitate to get it to this forum. 

 

 

 

 


Regards,
Riena
MYOB Training Specialist
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