Are you in search of the process to set up landed cost in QuickBooks enterprise services? Well, your search ends with this post. Landed cost is basically the total price of the product by the time it reaches the buyer. It includes everything be it the handling fees or the cost of parts used in manufacturing. Calculating this cost manually is one of the most tiresome and time-consuming process. But, ever since this feature is introduced in QuickBooks, managing business has become a lot easier and more accurate. Landed cost basically helps the user to factor in freight, duties, insurance, and other expenses, in order to understand and evaluate the actual product cost with much ease.

Landed Cost in QuickBooks Enterprise - Screenshot

There are a lot more facts associated with the landed cost and its set up in QuickBooks enterprise, which we will be discussing later in this post. However, if you feel the need of an expert who can guide you through the setting up and calculating of landed cost in QuickBooks enterprise, then give us a call at our toll-free number i.e. 1-888-291-2294. Our experts and certified team will be there to assist you.

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Steps to setup the landed cost in QuickBooks enterprise

As we mentioned above, landed cost actually helps the user in tracking the product costs more precisely. It can be used to factor in things like shipping, custom duties, insurance, and miscellaneous items. After setting up the landed cost, the user can see it for any bill added to inventory and shipping items. The process to set up the landed cost is not huge, a few simple steps could work. Let us have a look:

Step 1: Set up landed cost account

In order to set up the landed cost, the user needs to first turn on the advanced inventory for QuickBooks desktop enterprise. The user can create a new account or use an existing account to map shipping and handling items. The steps involved in this process are:

  • The very first thing to do is to select preferences from the edit menu
  • And then opt for the items and inventory, followed by selecting company preferences
  • The next step is to select advanced inventory settings
Advanced Inventory Settings - Screenshot
  • And also, select the landed costs tab. The user is also supposed to select the setup landed cost account
  • Also, create either a new account or use an existing account, followed by selecting save and continue tab.

Step 2: Map shipping and handling items to the landed cost account

The user is supposed to select the shipping and handling items, or add new items similar to shipping, customer, etc. The steps to do that are:

  • The very first thing is to select the shipping and handling items drop-down
  • And then, opt for the shipping and handling items to map
  • The last step is to select save and close
Steps to create new items for landed cost

In order to create new items for landed cost, the user will need to create an item type of other charge then add it to the landed cost account. For this, the user needs to:

  • The user needs to select the item list
  • And then opt for the item and select new

The user will be required to add it to the landed cost account:

  • For this, the user needs to select the preferences option from the edit menu
  • And then opt for the company preferences after selecting items and inventory
  • The next step is to select advanced inventory settings
  • And also, the landed costs along with the manage landed cost account is to be selected
  • Now, click on save and continue
  • Also, click the add item option, and select the item to add
  • The last step is to select save and close

The user has now mapped shipping and handling items, it is now time to calculate the landed cost. This can be done by continuing with the below process.

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How to calculate landed cost in QuickBooks Enterprise Services?

After the user has successfully set up the landed cost, it is time to calculate the same. Let us check out the steps for calculating the landed cost.

Step 1: For this, the user needs to add inventory and assembly items from a bill

  • In this, the user needs to opt for the inventory
  • And then, go for the calculate landed cost item
  • The user is then required to opt for the add bill from inventory and assembly items
  • The next step is to select the bill having the inventory items that are to be calculated
  • And the last step is to choose the add bill

Step 2: Adding shipping and handling items to the bill

  • The user needs to select the add bills option from the shipping and handling costs section
  • Also, select the shipping and handling bills for the inventory you would like to calculate
  • And the last step is to select add bill.

Step 3: Calculating the landed cost of the bill

  • For this, the user should opt for the split bill drop-down menu. The user can split shipping and handling costs between the inventory and assembly items by quantity, amount, percentage, can also try out manually
  • The next step is to select the post to bill option to add the landed costs to the bill

Step 4: Updating the selling price based on landed cost (This step is not mandatory)

As the landed cost gives the user a more accurate cost of the goods, the user might wish to update some of the selling prices. The steps involved in this are:

  • The user needs to pick the items they would like to update the price for
  • And then, the user needs to add new selling process, and also select the update and proceed. Also, opt for the skip and proceed, if you don’t need to update the price
  • The last step is to update the bill and opt for save.

Winding up!

Setting up and calculating landed cost in QuickBooks Enterprise doesn’t involve any rocket science. Carrying out the above steps properly can work. However, if somehow you encountered any technical glitch or in case of any query, do not hesitate in calling our QuickBooks enterprise support team anytime.

Give us a call at 1-888-291-2294, and our experts and certified accounting professionals will be happy to help you.

 

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