Imports and Landed Cost

Lessons

1. 01

   Buy in another currency

   This lesson shows how Parsimony turns a supplier's invoice in euros into your books in dollars: the supplier's currency, an exchange rate, and the purchase order.

   2:32 film · written guide · quick check

2. 02

   Exchange rates, gains and losses

   This lesson follows one euro invoice and a part payment at a later exchange rate, and shows where Parsimony books the difference as an exchange gain or loss.

   2:46 film · written guide · quick check

3. 03

   Follow a shipment

   This lesson follows a shipment from the mill to your store: the expected date on the purchase order, receiving into a transit warehouse, transferring on arrival with a stock entry, and where the FOB point lives.

   2:42 film · written guide · quick check

4. 04

   Landed cost vouchers

   This lesson shows how a landed cost voucher adds freight, duty and insurance to the cost of the items you received. The screens use example data from a demo company.

   2:46 film · written guide · quick check

5. 05

   True margin

   This lesson shows why the margin you quoted can differ from the margin you earn: landed cost (freight, duty and insurance) is part of an item's cost only once the landed cost voucher is submitted.

   2:50 film · written guide · quick check

6. 06

   Revalue open foreign balances

   This lesson shows the month-end step that brings open foreign-currency balances up to date: the Exchange Rate Revaluation.

   2:50 film · written guide · quick check

Next course: Quality and Inspections