Remove Landed Cost

From time to time, a user may post a Landed Cost session with some error and find a need to reverse the incorrectly posted session. This can be accomplished by posting a Negative Landed Cost session to undo the effects of the first session (see Using Landed Cost).

In this screenshot, we can see a Landed Cost session created. In this example, a receipt transaction was used to load the items, the date set to 3/15/2016, this session has been allocated by Quantity and the Invoice Total is $12,500.00.

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Before you can post a new Landed Cost session correctly, you must remove all of the cost added by the incorrectly posted Landed Cost session. To do this, prepare a new Landed Cost session exactly the same as the first, except make the Invoice Total negative.

In the screenshot below, we can see a new Landed Cost session. The same transaction was used to load (receipt), the date is again 3/15/2016, this new session is allocated by Quantity (same as the first session). The only difference between the first session and this new session is the Invoice Total. The first Landed Cost session added $12,500.00 in cost to this list of products, so to reverse that and remove the cost, the Invoice Total needs to remove that same cost (-$12,500.00).

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If you look at each line, you can see the totals being removed from each item match the totals posted on the original Landed Cost session. For example, in the first screenshot a cost of $21.92 was added to Product TP204. In the second screenshot you can see that -$21.92 is removed.

It’s not important what method is used to load the items, or what method is used to allocate the Cost, it’s only important that the second Landed Cost session match the method used in the first.

If you have any trouble or this does not work in the way you expect, contact Support for further assistance.

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Posted in Inventory - Last modified on March 15, 2016Matt Allen
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