Landed cost in Genoa adds freight and customs on top of an item's cost, so the cost of imported goods reflects what it actually took to bring them in. It is an optional feature: off by default and switched on per organisation, only for companies that need it. It is meant for Iraqi companies that import the goods they sell.
This is an optional feature: it is off by default and is switched on per organisation when needed.
Landed cost is an item's cost plus freight, transport and customs duties. In other words, it is everything the company paid on the goods until they reached its warehouse.
For example, if a company buys goods for 10,000,000 dinars, then pays 1,000,000 dinars for freight and transport and 500,000 dinars in customs duties, the landed cost of those goods is 11,500,000 dinars.
If an item's cost is based on the supplier's price alone, profit looks higher than it really is, because freight and customs are left out.
When those charges are added to item cost, the company knows its true cost and can set prices and measure profit on a sound basis.
Landed cost in Genoa adds freight and customs on top of item cost, so the item's cost in inventory includes those charges.
Landed cost is optional: it is off by default and switched on per organisation, according to each company's needs. A company that buys locally without freight or customs usually does not need it.
Landed cost and multi-currency are switched on separately, so a company can enable one, both or neither, as it needs.
An importer that buys in dollars and sells in dinars may need both. Multi-currency is also optional, off by default and switched on per organisation.
Item cost is what the company pays the supplier for the goods, while landed cost is item cost plus freight and customs.
In Genoa, freight and customs are added on top of item cost when the landed cost feature is enabled; it is optional, off by default and switched on per organisation.
Usually not. Landed cost is mainly useful when a company pays freight and customs on top of the purchase price, as with imported goods.
Because it is optional, off by default and switched on per organisation, it simply stays off for companies that do not need it.
Keep track of the items your company buys, stores and sells, alongside sales and the accounts.
Record what the company sells to customers and buys from suppliers, alongside stock and the ledgers.
Work in US dollars alongside Iraqi dinars. Optional, off by default and switched on per organisation.
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