What is landed cost?
Landed cost is the full cost of getting a product to your warehouse. It's the price you paid plus extra costs like shipping, taxes, handling and tariffs.
For example, a mug costs $10. Shipping, taxes and handling add $2. The landed cost is $12.
Turn it on
Go to Stores & Files, then Inventory Files.
Click your inventory file to open File Settings.
Click Edit.
Click General and turn on Landed Cost.
Click Save.
Add landed cost to a bill
Go to ConnectStock, then Purchasing, and open a bill.
Click Edit.
Click "+ Add Landed Cost".
Enter the Freight Cost, Other Cost and Tariff for the bill, and pick how to split each cost (see below).
Click Apply, then click Save on the bill.
You can also type the amounts on each line, in the Freight Cost, Tariff and Other Cost columns. The New Unit Cost column shows the cost with landed cost added.
Example: you buy 100 units at $10 each, and freight is $100. Freight per unit is $100 ÷ 100 = $1. The new unit cost is $10 + $1 = $11.
How costs are split
For Freight Cost and Other Cost, choose a split:
Use CBM: by size. Bigger items get more of the cost.
By Weight: heavier items get more of the cost.
Split Evenly: every unit gets the same share. Best if you don't have sizes or weights.
By Cost: more expensive items get more of the cost.
Use CBM and By Weight use each item's Height, Width, Length and Weight. To add these for many items at once, go to ConnectStock, then Items. Click Import, choose Update Existing Items, then Weight & Dimensions.
Tariffs
For Tariff, you have these choices:
Turn on Use Item Tariff Rate: uses the Tariff Rate on each item.
Turn on Use Vendor Tariff Rate: uses the Tariff Rate on the vendor.
A rate for the whole bill: switch the box to % and type the rate, like 10%.
A total amount: switch the box to $, type the total tariff you paid, and split it By Cost or Split Evenly.
With a rate, the tariff is the line cost × the rate. For example, $100 × 10% = $10.
Add landed cost to many bills at once
On the Bills tab, tick the bills.
Click Action, then Allocate Landed Cost.
Enter the cost and pick how to split it.
Check the preview of the split per bill, then click Apply to [number] Bills (for example, Apply to 3 Bills).
All the bills you pick must be bills (not credits) in the same currency.
You can also upload landed costs from Excel. On the Bills tab, click Import, choose Upload With Excel, then Landed Cost. Download the Sample Template, fill it in, upload it and click Import.
Send it to QuickBooks
Go to Stores & Files, then Inventory Files, and click your inventory file.
Click Edit, then Accounting.
Link the Landed Cost Freight, Tariff and Other Cost accounts to your QuickBooks accounts.
Click Save.
These fields show only when Landed Cost is on and an accounting app is connected.
When a bill goes to QuickBooks, those accounts go down and your inventory asset account goes up.
Frequently asked questions
I don't see "+ Add Landed Cost" on my bill.
Check 3 things. Landed Cost is on in File Settings. The bill is open in Edit. And it's a bill, not a credit. If the bill already has landed cost, the button reads "Edit Landed Cost".
Which split should I pick for freight?
If you have sizes, use Use CBM. If you have weights, use By Weight. If you have neither, use Split Evenly.
Where do I set a tariff rate?
For an item, go to ConnectStock, then Items, open the item and click Edit. Under Additional Information, set Tariff Rate and click Save. For a vendor, go to ConnectStock, then Lists, then Vendors. Open the vendor, click Edit, set Tariff Rate and click Save.
Questions? Contact support.