ABM’s Import Costing is an ideal for businesses that need to automatically calculate the landed costs of imported inventory, by constructing ‘shipments’ from single or multiple existing purchase orders.
Order costs can then be entered at any stage by specifying relevant exchange rates and applying user-defined shipment costs. Based on the newly calculated unit cost, markup methods can also be set. When the costs have been finalised and the goods received, the shipment is then processed to update the inventory and purchase order files.
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A ‘sundry shipment’ option is included to allow stock items to be cost estimated and selling prices set in advance of placing any orders. This allows importers to finalise prices before receiving orders from customers.
Track and change
Shipments are automatically assigned a shipment number and stored in a new shipment file for easy cataloguing. Shipments can then be viewed on the shipment routine by the nominated supplier. Any existing shipments still in transit are able to be altered at any time, such as quantity.
Shipments are constructed by selecting all or part of detailed items from orders. Additional details relevant to the shipment, such as due dates, exchange rates, country of origin and shipping line may also be entered and stored as a reference for each shipment.
Shipments are automatically totalled and converted to local currency at an updated exchange rate. Multiple user-defined shipment costs are available and apportioned by quantity, value, weight, volume, percentage or manually.
Perform a ‘What if’ analysis to see the effect of changes in exchange rates and shipment costs on the final landed cost prior to processing. Track changes from old costs to new costs and current selling prices as well as the margins based on the new landed cost.
General/Nominal ledger postings are automatically set up, as well as a supplier invoice for orders. ABM aims to reduce tedious transaction or account entries and retains a history of each shipment for later viewing or reporting.
Like to learn more? Need something specific? Then contact us we will assist with any further questions.
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