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Landed costs for imported inventory

Landed costs are the total cost of an imported shipment including, but not limited to:

  • the purchase price

  • freight

  • insurance

  • other costs up to the port of destination

Landed costs can also include customs duties and other taxes levied on the shipment. For information on how to account for GST on imported goods, see this help topic (Australia | New Zealand).

AccountRight can't automatically calculate or apportion landed costs to inventory items. But with a simple spreadsheet you can manually calculate landed costs, then specify the landed cost unit price when recording the overseas purchase.

This will ensure:

  • stock on hand is valued at full landed cost

  • Cost of Sales reflects landed cost of stock sold

  • actual landed costs can be easily identified

Landed costs can be a complex area. If the information below is too generic for your needs, your accounting advisor (or the experts on the MYOB Community Forum) will be able to help with the specifics of your importing scenario.