Table of Contents

Capturing Landed Costs and Bills- Cargo / Trade Finance

Introduction

Foreign orders incur additional costs, some of which are Trade Finance and Cargo Compass. These are referred to as Landed Costs and are included into the total bill of the Purchase Order. These costs are captured under the Accounting Menu option. These charges are billed separately per Purchase Order, however, the same billing steps should be followed.

Responsible Team

  • Procurement & Stock Management Clerk
  • Procurement Manager

Navigate to your Odoo dashboard and click on this application: Accounting

Navigate as follows to get to the correct screen:

Vendors / Bills

You should now land on a screen that looks like this:

Process

  1. Click [CREATE], you should land on a screen that looks like this:
  1. Enter the Vendor, e.g. 'Cargo Compass' or 'Trade Finance' under the field labelled 'Vendor'.
  2. Enter the Bill date under the field labelled 'Bill Date'.
  3. Under the tab, 'Invoice Lines' , click on Add a Line, and proceed to add the code or the description of the charge type. This will either be Cargo Charges or Trade Finance Charges:
    1. Trade Finance Charges
      1. Trade Finance Commission (9994)
      2. Trade Finance Interest (9993)
    2. Cargo Charges
      1. Freight Non Vatable (9998)
      2. Clearance Agent Charges (1124)
      3. Customs Duty (9996)
  4. You will notice the checkboxes under the heading Landed Cost will be ticked.
  5. Click on [CREATE LANDED COSTS], You should now land on a screen that looks like this:
  6. Click [EDIT].
  7. Enter the date under the field labelled Date.
  8. Ensure that Purchase Order is selected under the radio button labelled Apply On.
  9. Select/ Search for the PO Code that is being billed under the field labelled Purchase Order.
  10. Ensure that the costs under the field labelled Cost are correct, as per the costing sheet.
  11. Click COMPUTE.
  12. Once you've entered the correct quantities and dates as required, click [VALIDATE].

How did we do?

Capturing Landed Costs - Supplier commission

Contact