Inventory - Adding a Base Cost and Other Costs to a Unit

Pear Tree
2016-11-10 15:47

Adding a Base Cost and Other Costs to a Unit

 

Base Cost is what the Unit costs to acquire.

Other Costs are costs which may or may not be added to the price, such as Freight, Brokerage, Breakage Cost, Duty, Internal Work Orders, and so on.

 

 

Adding a Base Cost

 

Finance – Payables – Update – AP Invoice

 

image001.png

 

Payable No:

-        Added by the system when Invoice is submitted.

-        If entering manually, must be an Invoice already submitted in the system or will receive an Error message:

image002.png

 

-        Numeric only.

-        Can click on the Underlined link. A Table will appear with all Payables entered in the system.  Click in the light green area under Payable Number to bring up the appropriate invoice.

-         

 

Vendor Code:

-        Cursor automatically defaults to this field when screen is opened.

-        Can either type in the Vendor ID from Vendor Update Profile or click on the Underlined link. A Table will appear with all Vendors entered in the system.  Click in the light green area under Vendor Code to bring up the appropriate vendor.

-        Usually General Electric (GE) or a bank.

-        Could come straight from the Manufacturer.

 

Invoice No:

-        Enter the number on the Invoice.

-        Alphanumeric.

-        Freeform.

 

Invoice Date:

-        Enter the current date.

-        Can be added manually or through the Calendar icon.

-        Format will be MM/dd/YY.

 

Due Date:

-        Will automatically fill in a month from the Invoice Date.

-        Can be changed manually or through the Calendar icon.

-        Format will be MM/dd/YY.

 

PO Number:

 

Tax Code:

-        Defaults from the Vendor Profile.

-        Can be changed by using the dropdown.

 

Discounts:

-        Percentage:

o   Cannot be a negative value or will receive an Error message.

image003.png

 

o   Cannot be over 100 or will receive an Error message.

image004.png

 

-        Date:

o   If the Percentage is not 0.00, the current date will be entered by default.

o   Can be changed manually or with the calendar icon.

-        Total (Overridden):

o   Amount defaults in from the Percentage.

o   Can only be edited if Overridden is enabled.

o   Freeform.

o   Must be a valid number or will receive an Error message.

image005.png

 

Line Amount:

-        Amount paid for Unit. 

-        Numeric only or will receive an Error message.

image006.png

 

-        Positive, negative, or 0.00.

-        Manually entered.

 

Gross Amt:

-        Line Amount + Taxes

-        Automatically calculates.

-        To edit, click on the light green area.  A pop up box will appear.  A new Gross Amount can be entered.

-        The Line Amount will recalculate to account for Taxes.

 

Line Description:

-        Freeform.  

-        Alphanumeric.

-        Unlimited Space.

 

GL Account:

-        Automatically defaults in when the Line Amount is entered.

-        Comes from Vendor Profile.

-        Must be an Inventory Account.

-        Can be changed.

-        Can manually type in the correct account or click on the Underlined link and choose from the Table.

 

GL Description:

-        Defaults from the GL Account.

-        Cannot be edited from this field.

 

Comments:

-        Alphanumeric.

-        Unlimited.

-        Freeform.

 

Override:

-        Allows the User to override the Tax Amount.

-        Checked allows the Tax to be overridden.

-        Unchecked, the Tax cannot be overridden.

 

Tax Codes:

-        Comes from the Tax Code dropdown in the upper section of the window.

-        Cannot be overridden in this field.

 

Tax Amounts:

-        Line Amount * Tax Amount (from the Tax Code).

-        Cannot be changed if Overridden is not enabled. 

-        An Error message will appear if try to change without checking the Overridden box.

image007.png

 

-        Invoice Total will change if Tax Amounts is overridden.

-        Line Amount and Gross Amt do not change.

 

Submit:

-        Submits the new information to the system.

-        Generates an Invoice number in the Payable No field if creating from NEW.

-        Line Amount must equal Unit Cost or will receive an Error message.

image008.png

 

Clear:

-        Clears all information from the screen.

-        If any new information has not been submitted, it will be lost.

 

Unit Costs:

-        Clicking this button allows access to the Unit Cost window.

                  image009.png

 

More than one Unit and Unit Base Cost can be added to a Payable by either clicking the + sign or tabbing through an already created line.

 

Vendor Code/Total Costs/Payable No./ Invoice No./Funds Code:

-        Default in from the AP Invoice Update screen.

-        Cannot be edited in this window.

 

Unit ID:

-        Enter the ID of the Unit for which the Base Cost is being entered.

-        Unit must be saved in the Unit Inventory Profile.

-        Cannot use a Unit that has already been sold or will receive an Error message about the Cost of Sales account.

image010.png

 

Unit Description:

-        Defaults in from the Unit ID and Unit Inventory Profile.

-        Cannot be edited in this window.

 

Dealer Price:

-        Defaults in from the Unit ID and Unit Inventory Profile.

-        Cannot be edited in this window.

 

Base Cost:

-        Enter the amount paid for the Unit.

-        Cursor does not show in field.  Click on the field and start typing in the amount.

-        Manually entered.

-        Must be a number or will receive an Error message.

image011.png

 

-        Can be positive negative or 0.00.

-        Must equal to the Total Line Amount in the AP Invoice window.

-        Updates under Cost Tabs in Unit Inquiry window.

 

Submit:

-        Submits any new information.

-        Is not needed to save the Unit ID.

-        Need to submit if Base Cost needs to be saved, otherwise it will go to 0.00.

 

Cancel:

-        Closes the window.

-        If the Base Cost is not submitted before Cancel is clicked, it will revert to 0.00 but the Unit ID will stay.

 

Adding an Other Cost

 

There are two ways to add an Other Cost to a Unit:

-        If the Cost is being added to the price, through Accounts Payable (Finance – Payables – Update – AP Invoice).

-        If the Cost is not being added to the Price, through Non AP Unit Cost (Inventory – Units – Update – Non AP Unit Costs).

 

Finance – Payables – Update – AP Invoice

 

image012.png

 

Payable No:

-        Added by the system when Invoice is submitted.

-        If entering manually, must be an Invoice already submitted in the system or will receive an Error message:

image013.png

 

-        Numeric only.

-        Can click on the Underlined link. A Table will appear with all Payables entered in the system.  Click in the light green area under Payable Number to bring up the appropriate invoice.

 

Vendor Code:

-        Cursor automatically defaults to this field when screen is opened.

-        Can either type in the Vendor ID from Vendor Update Profile or click on the Underlined link. A Table will appear with all Vendors entered in the system.  Click in the light green area under Vendor Code to bring up the appropriate vendor.

-        Could be a Freight Company, a Brokerage Firm, and so on.

-        Could come straight from the Manufacturer.

 

Invoice No:

-        Enter the number on the Invoice.

-        Alphanumeric.

-        Freeform.

 

Invoice Date:

-        Enter the current date.

-        Can be added manually or through the Calendar icon.

-        Format will be MM/dd/YY.

 

Due Date:

-        Will automatically fill in a month from the Invoice Date.

-        Can be changed manually or through the Calendar icon.

-        Format will be MM/dd/YY.

 

PO Number:

 

Tax Code:

-        Defaults from the Vendor Profile.

-        Can be changed by using the dropdown.

 

Discounts:

-        Percentage:

o   Cannot be a negative value or will receive an Error message.

image014.png

 

o   Cannot be over 100 or will receive an Error message.

image015.png

 

-        Date:

o   If the Percentage is not 0.00, the current date will be entered by default.

o   Can be changed manually or with the calendar icon.

 

-        Total (Overridden):

o   Amount defaults in from the Percentage.

o   Can only be edited if Overridden is enabled.

o   Freeform.

o   Must be a valid number or will receive an Error message.

image016.png

 

Line Amount:

-        Total Amount paid for Other Costs. 

-        Numeric only or will receive an Error message.

image017.png

 

-        Positive, negative, or 0.00.

-        Manually entered.

 

Gross Amt:

-        Line Amount + Taxes

-        Automatically calculates.

-        To edit, click on the light green area.  A pop up box will appear.  A new Gross Amount can be entered.

-        The Line Amount will recalculate to account for Taxes.

 

Line Description:

-        Freeform.  

-        Alphanumeric.

-        Unlimited Space.

 

GL Account:

-        Automatically defaults in when the Line Amount is entered.

-        Comes from Vendor Profile.

-        Must be an Inventory Account.

-        Can be changed.

-        Can manually type in the correct account or click on the Underlined link and choose from the Table.

 

GL Description:

-        Defaults from the GL Account.

-        Cannot be edited from this field.

 

Comments:

-        Alphanumeric.

-        Unlimited.

-        Freeform.

 

Override:

-        Allows the User to override the Tax Amount.

-        Checked allows the Tax to be overridden.

-        Unchecked, the Tax cannot be overridden.

 

Tax Codes:

-        Comes from the Tax Code dropdown in the upper section of the window.

-        Cannot be overridden in this field.

 

Tax Amounts:

-        Line Amount * Tax Amount (from the Tax Code).

-        Cannot be changed if Overridden is not enabled. 

-        An Error message will appear if try to change without checking the Overridden box.

image018.png

 

-        Invoice Total will change if Tax Amounts is overridden.

-        Line Amount and Gross Amt do not change.

 

Submit:

-        Submits the new information to the system.

-        Generates an Invoice number in the Payable No field if creating from NEW.

-        Line Amount must equal Unit Cost or will receive an Error message.

image019.png

 

Clear:

-        Clears all information from the screen.

-        If any new information has not been submitted, it will be lost.

 

Unit Costs:

-        Clicking this button allows access to the Unit Cost window.

                  image020.png

 

More than one Unit and Unit Other Cost can be added to a Payable by either clicking the + sign or tabbing through an already created line.

 

Vendor Code/Total Costs/Payable No./ Invoice No./Funds Code:

-        Default in from the AP Invoice Update screen.

-        Cannot be edited in this window.

 

Unit ID:

-        Enter the ID of the Unit for which the Other Cost is being entered.

-        Unit must be saved in the Unit Inventory Profile.

-        Cannot use a Unit that has already been sold or will receive an Error message about the Cost of Sales account.

image021.png

 

Unit Description:

-        Defaults in from the Unit ID and Unit Inventory Profile.

-        Cannot be edited in this window.

 

Dealer Price:

-        Defaults in from the Unit ID and Unit Inventory Profile.

-        Cannot be edited in this window.

 

Base Cost:

-        Can only be entered once for a Unit.

 

Cost Codes:

-        Enter either the Cost Code manually or click on the Underlined link and choose from the Table.

-        Make sure the Cost Code GL matches the GL Account from the AP Invoice Line Amount.

-        The Amount can be put on one line under one Cost Code or spread over different Cost Codes.

-        Total Cost Code Amounts must equal Total Line Amounts.

 

Submit:

-        Submits any new information.

-        Is not needed to save the Unit ID or the Cost Code or Cost Code Amounts.

 

Cancel:

-        Closes the window.

-        If the Base Cost is not submitted before Cancel is clicked, it will revert to 0.00 but the Unit ID will stay.

 

Inventory – Units – Update – Non AP Unit Costs

This window is used only if there is a Cost that needs to be applied to a Unit but the Dealer does not owe it to anyone.  For example, depreciation.

 

image022.png

 

Unit ID:

-        Enter the ID of the Unit for which the Other Cost is being entered.

-        Unit must be saved in the Unit Inventory Profile.

image023.png

 

-        A Sold Unit will not appear here.

 

Description/Unit Status/Base Cost/Product Class:

-        Automatically fill in from the Unit ID.

-        Cannot be edited in this window.

 

First Cost Code section defaults in from AP Invoice Update.  This section cannot be edited in this window.  

 

Transaction Date:

-        Defaults to the current date.

-        Can be changed manually or using the Calendar icon.

-        Format will be MM/dd/YY

 

Cost Code:

-        Enter either the Cost Code manually or click on the Underlined link and choose from the Table.

-        Can only choose a Cost Code with a Non AP Credit Account.

image024.png

 

-        Make sure the Inventory GL Account matches the GL Account from the Class field in the Unit Details window.

image025.png

 

-        More than one Cost Code can be added.

 

Cost:

-        Enter the Cost.

-        Can be positive, negative, or 0.00.

-        Must be numeric or will receive an Error message.

image026.png

 

Other Costs:

-        Total of all Costs from both sections.

-        Field cannot be edited.

 

Rebate Total:

-        Defaults in from another window.

-        Cannot be edited in this window.

 

Internal Work Orders:

-        Defaults in from another window.

-        Cannot be edited in this window.

 

Total Cost:

-        Base Cost + Other Costs - Rebate Total + Internal Work Orders

 

 Submit:

-        Submits the new information to the system.

-        Generates an Invoice number in the Payable No field if creating from NEW.

-        Line Amount must equal Unit Cost or will receive an Error message.

image027.png

 

Clear:

-        Clears all information from the screen.

-        If any new information has not been submitted, it will be lost.

 

Average rating: 0 (0 Votes)

You cannot comment on this entry