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Inventory Landed Costs in Odoo

Inventory Landed Costs in Odoo

What are Landed Costs?

The landed cost feature includes extra costs into the cost of the product. Extra costs like shipment, insurance, customs duties, purchase costs, transportation fees, shipping charges, tax, service charges, etc.

Also, Landed costs can only be applied to products with a FIFO or AVCO costing method and an automated inventory valuation.

Module

stock_landed_costs [WMS Landed Costs]

Inventory Landed Costs in Odoo


Configuration

Enable the landed costs to feature Inventory ➤ Configuration ➤ Settings

Inventory Landed Costs in Odoo


Landed Costs

Inventory ➤ Operations ➤ Landed Costs

You will create “Landed costs” from the Inventory module under the operations submenu.

Inventory Landed Costs in Odoo


Product Categories

Inventory ➤ Configuration ➤ Product

Open any one product category and set inventory valuation. Set as Automated, and the Costing Method should be either Average Cost (AVCO) or First In First Out (FIFO).

Inventory Landed Costs in Odoo


Product

Create New Product and set the product type as Service.

Inventory Landed Costs in Odoo


Also, Under the Purchase tab, enable “Is a Landed Cost”.

Inventory Landed Costs in Odoo


Landed Costs

Inventory ➤ Operations ➤ Landed Costs

Create New Landed Costs.

In the Additional costs tab, you can add a Product with description, Account, Split method, and Cost.

Inventory Landed Costs in Odoo


Valuation Adjustment

Landed Costs under the Valuation Adjustment tab, you can specify the Cost Line, Product, Weight, Volume, Quantity, Original Value, New Value, and Additional Landed Costs.

Inventory Landed Costs in Odoo


Landed Cost for Transfer

Additional Cost

Add additional cost for the product. Add product details with the charge to apply. Also, select the Apply On option for which order you want to apply extra cost. Add Receipt number and Vendor bill number. Add cost for how much you apply for the extra cost.

Inventory Landed Costs in Odoo


And to apply this cost, click on the compute button.


Inventory Landed Costs in Odoo


Valuation Adjustment

When you click on the compute button, Additional cost applies to the product in the valuation adjustment cost.

Inventory Landed Costs in Odoo


Landed Cost for Manufacturing



Additional Cost

Add additional cost for the product. Add product details with the charge to apply. Also, select the Apply On option for which order you want to apply extra cost. Add Manufacturing number. Add cost for how much you apply for an extra cost.

Inventory Landed Costs in Odoo


And to apply this cost, click on the compute button.

Inventory Landed Costs in Odoo


Valuation Adjustment


When you click on the compute button, Additional cost applies to the product in the valuation adjustment cost.

Inventory Landed Costs in Odoo


Splits Method

One option in the under tab of Additional cost is the Splits Method. And the Split Method has many options. For example, in the above screenshot, we show the equal splits method in transfer and manufacture orders.

In splits, the method has five options [Equal, By Quantity, By Current Cost, By weight, By volume]

Landed Cost - By Quantity

Inventory Landed Costs in Odoo
Inventory Landed Costs in Odoo


Landed Cost - By Current Cost

Inventory Landed Costs in Odoo
Inventory Landed Costs in Odoo


Landed Cost - By Weight

Inventory Landed Costs in Odoo
Inventory Landed Costs in Odoo


Landed Cost - By Volume

Inventory Landed Costs in Odoo
Inventory Landed Costs in Odoo


Note: As per the Transfer split method, you can also apply manufacturing.

Functionality for applied landed cost on sale order. 

First, you can create a Purchase order. And applied for Purchase Order Receipt Number on Landed Cost.

Inventory Landed Costs in Odoo


Now create a Sale Order. And add product and cost, confirm the sale order and see the landed cost on the sale order.

After applying the landed cost, confirm the sale order.

Inventory Landed Costs in Odoo

 

View the Video Here

 
 


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