Minimum Version Required: 22.01
Steps
How to create Purchase Cost Types
1. Using the universal search, navigate to the Purchase Cost Types table
Purchase Cost Type: The name of the Cost Type, is what you can select when editing purchases
Cost Type: This determines where on the inventory this cost is recorded
Disbursement Method:
This will determine the way in which costs spread across the products on the purchase
1) Weight
2) Volume
3) Cases
4) Inventories Freight
5) Inventories Tax
6) Inventories Other Cost
7) Ext Price
Account:
1) On the purchase, if the On Invoice Method is "On Shipment" or "Default" cost, this account will be used
2) If the On Invoice Method is "On Purchase", inventory and accounts payable will be used
2. From the Sub Tables, click Vendor Cost Types
3. Click the drop-down arrow on the upper right corner to show all subtables
4. Vendor Cost Types - By linking a Product Cost Type to a Vendor, any purchase for that vendor will have this Cost Type available as an option. So if you know a given vendor allocates cost by weight, for example, they should be attached to a Purchase Cost Type where the Disbursement Method is by Weight
How to see the Cost Types on a purchase
1. In the universal search, navigate to the Purchases table and click on Add Purchases
2. Any field with (*) is required
Receive Date: The date you expect the product to arrive (i.e., to be active in your inventory)
Vendor: Will determine the effect on AP, make sure that Trans Type of vendor is = Inventory
Location: the warehouse where the product is being brought to
NOTE: By default, you can have duplicate Invoice Numbers or PO Numbers for a given Vendor unless Settings 539-540 are set otherwise
3. When ready click Add Record and search for Products
QTY: Enter the number of whole cases to be received
FOB: The cost of the product. It cannot be edited if the Vendor is set to recalculate the cost of receiving. If that is the cast, it can be edited after receiving the purchase
Deposit: The deposit amount is added to the cost of the products
Born in Date: The date manufactured
Expiration Date: The date the product is expected to expire
Purchase Cost Types: Here is where you may enter any additional costs for the purchase
4. You can select a value on the list to add additional costs
On Invoice Shipment (Same Shipment): To spread across all applicable products on the shipment
On Invoice Purchase (Same Purchase): To spread across all applicable products on that individual purchase
5. Click Save Changes
Best Practices
Updating Vendor Cost Types will trigger the deletion of Purchase Costs for all Vendor purchases with a status less than Confirmed.
It is recommended that open purchases be reviewed and updated prior to making Vendor Cost Type changes in order to avoid having to re-enter any purchase costs that were previously added with the Same Shipment or Same Purchase On Invoice Method.