Results 1 to 4 of 4

Thread: Processing additional cost.

  1. #1
    Email problem
    Join Date
    Jan 2013
    Location
    durban
    Posts
    6
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Processing additional cost.

    Hi all i need some of your expert advice,

    We are a small company that import goods and then retailers to other suppliers and retailers. We process the supplier invoice from the supplier (overseas - converted in rands) ,we then also then incur additional costs for the items purchased, such as import duties, shipping charges, and so on.

    My query is as follows; i would like to increase the cost of the purchased items by the costs in these new supplier invoices, to reflect the true / accurate landed cost.

    thanks

  2. #2
    Diamond Member Neville Bailey's Avatar
    Join Date
    Nov 2010
    Location
    Westville, Durban
    Posts
    2,760
    Thanks
    44
    Thanked 451 Times in 396 Posts
    Which accounting system are you using?

    Assuming you are using Pastel Partner (this feature is not available in Pastel Xpress), here is an extract from the Pastel help file:

    Additional Costs

    This field only applies to supplier invoices. It does not apply to other supplier documents or to any customer documents.
    Sometimes you need to process a supplier invoice that contains additional cost values for items you purchased previously.
    A common example of this can occur when you import goods. You process a supplier invoice from the supplier, but you also incur additional costs for the items you purchase, such as import duties, shipping charges, and so on. You would like to increase the cost of the purchased items by the costs in these new supplier invoices.
    To process additional cost invoices

    1. You process the original supplier invoice as normal, and update it. This updates the average cost of the items you purchase.
    2. When you receive an invoice for shipping charges or any other charges, you process the shipper as a supplier. Check this Additional Costs check box when you process the invoice.
    3. When you work in and update an additional cost invoice, it works differently from a standard document:
    4. The Link / Create button allows you to link to other suppliers' invoices. This lets you link to the original invoice(s) for which you are processing the shipping costs, and copy their lines.
    5. The system does not update inventory item quantities, and so the Quantity field disables. The system will add the value in the price field to the cost of that item.
    6. The system adds to the average cost instead of averaging it. For example, you have five items on hand with an average cost of 100.00. You then process an additional cost line for this item of 20.00. The system calculates the current cost of the items on hand as 500 (5 items x 100), adds 20 to the current cost, giving 520, and then divides this by the items on hand (5), giving a new cost of 104.00.
    Neville Bailey - Sage Pastel Accounting Consultant
    www.accountingsoftwaresupport.co.za
    neville@accountingsoftwaresupport.co.za
    IronTree Online Solutions

    "Give every person more in use value than you take from them in cash value."
    WALLACE WATTLES (1860-1911)

  3. #3
    Email problem
    Join Date
    Jan 2013
    Location
    durban
    Posts
    6
    Thanks
    0
    Thanked 0 Times in 0 Posts
    thanks...will definitely try it out.

  4. #4
    New Member
    Join Date
    Jul 2018
    Location
    midrand
    Posts
    1
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Additional csts

    Quote Originally Posted by Neville Bailey View Post
    Which accounting system are you using?

    Assuming you are using Pastel Partner (this feature is not available in Pastel Xpress), here is an extract from the Pastel help file:

    Additional Costs

    This field only applies to supplier invoices. It does not apply to other supplier documents or to any customer documents.
    Sometimes you need to process a supplier invoice that contains additional cost values for items you purchased previously.
    A common example of this can occur when you import goods. You process a supplier invoice from the supplier, but you also incur additional costs for the items you purchase, such as import duties, shipping charges, and so on. You would like to increase the cost of the purchased items by the costs in these new supplier invoices.
    To process additional cost invoices

    1. You process the original supplier invoice as normal, and update it. This updates the average cost of the items you purchase.
    2. When you receive an invoice for shipping charges or any other charges, you process the shipper as a supplier. Check this Additional Costs check box when you process the invoice.
    3. When you work in and update an additional cost invoice, it works differently from a standard document:
    4. The Link / Create button allows you to link to other suppliers' invoices. This lets you link to the original invoice(s) for which you are processing the shipping costs, and copy their lines.
    5. The system does not update inventory item quantities, and so the Quantity field disables. The system will add the value in the price field to the cost of that item.
    6. The system adds to the average cost instead of averaging it. For example, you have five items on hand with an average cost of 100.00. You then process an additional cost line for this item of 20.00. The system calculates the current cost of the items on hand as 500 (5 items x 100), adds 20 to the current cost, giving 520, and then divides this by the items on hand (5), giving a new cost of 104.00.
    How then can i split say i have 500 units in durban, and i want to add the additional costs on just 200 units of the items being transferred to JHB

Similar Threads

  1. Latest Cost to Weighted Cost
    By aaronatkinson in forum Accounting Forum
    Replies: 1
    Last Post: 28-Feb-13, 11:27 AM
  2. [Question] Processing Loans to Company on Pastel
    By Raene in forum Accounting Forum
    Replies: 5
    Last Post: 25-Feb-13, 11:17 AM
  3. Processing Supplier Expense Invoice on Pastel Prtner
    By Ramesh in forum Accounting Forum
    Replies: 1
    Last Post: 17-Dec-12, 03:11 PM
  4. Additional forums
    By Dave A in forum Administrative issues
    Replies: 2
    Last Post: 10-Feb-12, 08:47 AM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •