Landed Cost Templates - Creating & Updating | 2021

Landed Cost Templates - Creating & Updating | 2021

This manual will instruct on creating and updating landed cost templates

Overview

Landed cost templates are predefined shipping costs that are applied to purchase orders when items are added. Templates are based on vendor shipping averages along with any additional customs / miscellaneous fees. This manual is broken into two parts consisting of creating and updating landed cost templates. 

Requirements

  1. Netsuite account & correct permissions


Creating Landed Cost Templates

Each vendor will have their own associated templates and will therefore be named after the vendor. If a vendor offers free shipping as a primary or secondary means you will need to append (Free) to the vendor name. Each vendor is different and may require different shipping templates. For example:
  • Vendor A = Vendor A, Vendor A (Free) 
  • Vendor B = Vendor B (Free)
  • Vendor C = Vendor C 


  1. Depending on your role the path in which to create new templates may differ. Use one of the following.
  • Customer > Other List > Landed Cost Template and click new
  • Financial > Cost Accounting > Landed Cost Template and click new
  • List > Accounting > Landed Cost Template and click new
  1. You should now be located within a blank landed cost template
  2. Name the template after the vendor and include a brief description.
  3. Set your cost category to ‘Incoming Freight’ 
  4. Set your cost allocation method to ‘Weight’. This represents the way in which the cost factor will be multiplied when receiving items.
  5. Enter the cost factor amount. This is the amount that will be charged per your Cost Allocation Method. 
  6. Click save. You will have now created a landed cost template. To view a list of landed cost templates select the list in the upper right corner after saving. Or follow the Netsuite path from above and click on ‘Landed Cost Template’.
  7. Repeat steps 1 - 6 for any additional templates that need to be created.
  8. After creating the templates, you’ll need to associate them with the vendor record and ensure the following information is included on the vendor record.
  1. Shipping Payment Method - How shipping is paid
  2. Landed Cost Templates = The name of the template that you created
  3. Vendor Audit Schedule = The audit schedule for reviewing prices associated with the landed cost template
  4. Landed Cost Per Pound = The price per pound associated with the landed cost template
  5. Billed Landed Cost Types = How shipping is scheduled

Updating Landed Cost Templates

Landed cost templates can be updated at any time. However, if an item is received prior to a landed cost template update those changes will not be reflected on the item receipt. They will need to be manually updated or recalculated on the item receipt. Any unreceived items will reflect the landed cost template changes.

  1. Depending on your role the path in which to edit landed cost templates may differ. Use one of the following.
  • Customer > Other List > Landed Cost Template 
  • Financial > Cost Accounting > Landed Cost Template 
  • List > Accounting > Landed Cost Template 
  1. You should now be located in the ‘Landed Cost Template List’
  2. Locate the template you wish to update and click ‘Edit’
  3. From within the landed cost template update any applicable fields and click save.









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