Expenses and Items

On the Expenses and Items subtab of a new purchase custom transaction instance, you can purchase items, add expenses, apply Amortization and Landed Costs, and more. For more information, see Sales and Purchase Functionality Available in Custom Transactions.

For more information about creating a new purchase custom transaction instance, see Creating Sales and Purchase Custom Transaction Instances.

Complete the following steps as needed:

1. Click the Expenses and Items subtab.

2. Click the Items subtab.

3. Add an item to the purchase transaction.

See the following Sections:

• Landed Costs

• Amortization

Landed Costs

Landed cost is the total amount paid for a product including shipping, and other additional costs.

Note:

You can have multiple categories for custom cost categories. The following procedures use example categories of Shipping and Insurance. These categories can differ from the custom categories your company uses. For more information, see Creating Cost Categories.

To calculate landed costs per line item on the Expenses and Items subtab:

1. Click the Expenses and Items subtab. Then in the Items sublist, enter item details.

2. Check the Landed Cost Per Line box. Note that when this box is checked, the fields on the Landed Costs subtab are disabled.

3. Click the Landed Cost field. In the popup window, complete the following:

   1. In the Cost Category field, enter a custom cost category such as Shipping or Insurance.

   2. In the Amount field, enter a dollar amount for the cost.

   3. Click Add.

   4. Create additional cost categories as required.

   5. To finish, click OK.

4. Click Save.

You can also calculate landed costs on the Landed Costs subtab.

For more information about landed costs, see Landed Cost Overview.

Amortization

The amortization feature enables you to record expenses independently from receiving bills and making payments, so you can defer expenses and spread their impact across multiple future time periods. For more information, see Expense Amortization.

To create an amortization schedule:

1. In the Amort. Schedule field, select a template such as Amortization Template, or select New and enter details. For more information, see Creating Amortization Templates.

2. In the Amort. Start and Amort. End fields, enter start and end dates for the amortization period.

3. Click Save.

4. A link appears in the Amortization Schedule Field. To open the Amortization Schedule page to see how the amounts will be amortized, click the link.

When you select an item and click the open icon, a page opens. The title of the page is based on the item or noninventory item you selected. On the page, there is a Revenue Recognition/Amortization subtab. Use the options on the Revenue Recognition/Amortization subtab to configure amortization. For more information, see Revenue and Expense Recognition Overview.

Related Topics

Creating a Purchase Custom Transaction Instance

Landed Costs

Billing

SuiteTax

General Notices