Hello learners, in this blog I will try to explain about a pain point which we have for recording voyage cost invoices.

Scenario: We have lot of voyages crated and now we receive invoices from freight suppliers for all of them, so now if we go with manual process where we must allocate actual cost against each cost code and voyage number manually. This is really a time-consuming activity.

Here is the manual process of recording Voyage cost invoice using Vendor invoice journal.

Here are other parts of Landed cost from finance perspective. Part-1, Part-2, Part-3 and Part-4

Solution:

1. We have additional field cost type code and cost area related to landed cost in vendor invoice journal data entity which will help us in creating Debit lines against the Credit line of vendor invoice
2. We have new data entity Voyage vendor cost invoice distribution which will help us in linking the different cost codes to the require Voyage and cost code line

Note: This solution is still at initial stage but this gives a base for us to auto mate through some customization.

Step-1: Create PO and create Voyage against the same

Step-2: View the cost enquiry estimate vs actual

Step-3: Invoice the PO

All above processes are very well explained in earlier part of the series.

Step-4: Create Invoice journal, export in Excel and Add additional fields

Step-5: Import data using excel template

In this example we are assuming that we got two different invoices for both Freight and Air separately.

Step-6: Prepare and import data to link the Debit (Cost lines) of journal to exact Voyage and cost code

Step-7: Post journal

Step-8: View posted transactions

We can see actual cost has been posted

That’s it for this blog, hope this help in setting up an automating this complete process with some small customization.

Thank you !!! keep reading and sharing !!!