Getting goods to your warehouse from overseas incurs many cost that should be included in formulating what the exact cost of your goods actually are. Calculating Landed Cost using Microsoft Dynamics 365 for Financials can help your company accurately account for all of the charges “built” into the pricing of a certain product.
Microsoft Dynamics 365 for Financials is the next generation of Cloud Based Business Management Solutions that can help your company meet demands, prepare for growth, and make ordering, selling, invoicing, and reporting easier with such functional as:
Item Charges (Landed Costs):
Items Charges, ie. Landed Costs, is available in Dynamics 365 If you want your inventory items to carry costs, such as freight, handling, or insurance, that you incur when purchasing or selling items, you can use the Item Charges features.
For purchase documents, for example, you can use item charges when you receive a separate purchase invoice for these costs, or when the costs are included in the original purchase document for the items.
You can assign item charges to lines in a purchase document that has not been posted as fully invoiced, and you can even assign costs to partially invoiced documents. You can also assign item charges received on a separate invoice to purchase document lines that have already been received or posted.
In addition, your company can set up item charge codes to distinguish between different item charges, and you can define how to post the charges in the general ledger. Furthermore, Financials can allocate charges to item lines either equally (by line) or by amount (proportional to line amount excl. taxes). As far as sales are concerned, you can also use the Item Charges feature in sales to assign sales charges to items you’ve sold.
Multi-Currency:
In addition to calculating landed cost, part of Dynamics 365 for Financials capabilities is having Multi-Currency functionality in which you can manage receivables and payables in the currencies of your choice, and record General Ledger transactions in different currencies
This allows your company to be ready for global business with automated currency posting, translation, and reporting. Multi-Currency can also ease or eliminate the calculations to present invoices and receive payments in local currency. A great advantage as well is the ability for managers to do business in local languages and currency while managing in a single currency
Learn more about Microsoft Dynamics 365 for Financials
