Landed cost is the total price of a product or shipment once it has arrived at a buyer's doorstep.
With the beginning of a new year, Intuit has released new versions of QuickBooks Desktop 2020 Pro, Premier, Accountant, Enterprise and Mac. These updated versions are complete with new and improved features to help you run your business. The tools are to empower you and help you work more efficiently.
Landed Cost is available in QuickBooks Desktop Enterprise 2020 with a Platinum Subscription and Advanced Inventory enabled.
From the menu bar, select
Edit -> Preferences -> Items & Inventory -> Company Preferences -> Advanced Inventory Settings -> Landed Cost tab -> Setup Landed Cost Account.
NOTE: The Landed Cost setup requires that you create an Other Current Asset type account and map to this account any Other Charge item types that have or will be used for freight, duties and other related landed costs. The type of account to be used may change with future releases of QuickBooks.
Feature Benefits: The cost of obtaining inventory stock includes more than just the material costs of the items. With the new Landed Cost feature, QuickBooks Enterprise users will have greater visibility into actual product costs by factoring in freight, duties, insurance and other miscellaneous landed costs. Calculated by quantity, value, weight or volume.
Kemper has QuickBooks ProAdvisors in your area ready to help! Contact us today to learn more about the improvements to QuickBooks Desktop 2020