|
Purchases and Costs in Foreign Currencies
Accounting for landed costs incurred from international suppliers is complicated due to foreign currency invoice amounts. However, My.N helps you to handle these issues quickly and easily.
As a dual-base currency system, each entry processed has amounts posted to the ledgers in both the local currency and one other currency. If the source entry is raised in a third currency, then the equivalent amounts for that currency are posted as well.
Landed costs entered in the system in their original currency are automatically converted using the systems' exchange rates. On receipt of the stock and expense invoices, the exchange rate can be adjusted ensuring a quick, easy and accurate valuation.
|
Profiling a Shipment
Creating a Shipment:
A shipment brings together details of the voyage including all costs associated with importing a shipment, and the purchase order lines on that shipment. This associates the two sets of shipment costs and allows them to be apportioned and rolled into the stock costs.
Adjustment to a standard cost profile can be done at any point in the process, up to the point that the shipment is received into the system. The apportionment of costs can be managed automatically by weight, volume, quantity or set manually.
Dealing with On-Costs
My.N also allows you to automatically account for additional costs incurred in the course of managing your stock. Typically, this could be anything from warehousing and insurance to despatch and distribution.
For this, you are able to set up 10 additional costs which accrue to the value of the stock on receipt. Each cost can be set as an absolute value or as a percentage. As you would expect from the system, GRNI accruals are maintained throughout the process.
|
|