The Landed Costs feature was first released in 2020 within QuickBooks Enterprise v20. It underwent revisions in QuickBooks Enterprise v21.
Recently, Landed Cost functionality within QuickBooks Enterprise was revised again with the R11 release update to QuickBooks Enterprise v24.
The Landed Cost feature helps businesses track product costs more accurately. It allows for shipping, customs duties, insurance, and miscellaneous items to be factored into the cost of each item. It provides a more accurate cost to determine the most appropriate sales price for items, including landed costs.
Significant improvements have been made to the Landed Cost Calculator in the R11 update. These user-friendly enhancements make the functionality more efficient.
Once you've set up landed cost and selected the Calculate Landed Cost option from the QuickBooks Inventory Menu, the functionality will be available for any Vendor Bill for inventory and shipping items.
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Any open bills available to calculate landed costs will be listed for you to select when you open them. R11's addition of the memo field makes identifying the bills more manageable, adding a layer of convenience to your workflow.
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The Landed Cost Calculator opens once you select the bills you want and click the Add Bills button.
As a result of the R11 update, the description now shows the proper description, and the suggested item's selling price has been calculated with the appropriate markup, ensuring accuracy in your pricing strategy.
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The R11 update features to Landed Cost make accessing the functionality easier, providing additional information within the Landed Cost process displays allowing you to select the proper Vendor Bills for your items, and providing valuable information regarding product costs and pricing options.
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