Entering Shipment Costs:
There are two transaction cost entries
Material/product which can be in local or foreign currency
Shipment on-costs
Material/product costs, where foreign currency is involved, must be processed through Invoice Entry – Release PO. All other transactions can be process either similarly or through Direct Supplier-Invoice-Entry (for non purchase-ordered expenditure).
Shipment costs are processed in the same manner as stock or expense items, only the ledger type is different. Whereas stock uses “S” and expense uses a “G”, a Shipment Cost number is referenced by type “J”.
When transactions are processed to a Shipment cost number they are, by default, posted to the Shipment in Transit account in the general ledger.
The Shipment Cost Type Elements:
In the first instant, a Shipment-Cost profile is created. Its purpose is to auto populate the actual Shipment-Cost record that is automatically generated upon the creation of a Shipment Entry. This example is taken from an actual entry.
More than one Shipment-Cost profile can be created and used. This would apply where a requirement existed to separate shipments into different General Ledger control accounts. However, this requires manual Shipment Cost generation. The process of profile loading is automated once a profile has been chosen.
The cost type structure can be alpha or numeric but only two characters. Cost types should be added to suit requirements