openerp-expert-accounting team mailing list archive

[Jean-Charles DRUBAY <jcdrubay@xxxxxxxxx>]

Hello,

As other feedback related to the Cost of Purchase: the "Landed cost"
(transport, handling and other costs directly attributable to the
acquisition of finished goods, materials and services) mentioned above.
I don't know any way to handle this with OpenERP. Should it be included in
this development?

Here is a draft specifications that we wrote 2 years ago but could not find
the opportunity to implement it:

*The cost of goods include the following expenses

   - Purchase Price
   - Related Cost
      - Ex-work charges
      - Freight charge
      - Transport from port to warehouse
      - Service
      - …
   - Import Tax

Constraints and working method No partial delivery (this is a
simplification)
There is one invoice for each product delivery. In case of partial delivery
(exceptional), the initial PO will have to be cancelled and replaced by 2
purchase orders instead. So, there is no partial reception.

At receptions, all costs are known
When receiving the products, all the amounts are already known.

Costs’ invoices are related to only one Incoming Product (Packing)
For example, the transportation invoice will be associated to only one
incoming product.

Make packing
The person who will record the Packing with the “Make Packing” function
will have to know all the expenses.

Allocation of the costs:

   - Related costs:
      - Import tax
      - Purchase Price


Voucher and Invoice of related costs must be associated manually to the
Incoming Products ( Packing)
On the Invoices and voucher of related costs, we need to mention the
“incoming product” (Packing). Then at reception of the products, those
invoices / vouchers should be taken into account to calculate the cost of
good in the page “Make Packing”.
ResultsWhen using the function “Make Packing / Product Received”, in the
view of the make packing, the following fields (readonly and calculated)
will be be added for each Stock Move Line:

   - Related costs (USD): based on the % of the purchasing amount of each
   product compare to the total amount of the PO and the total amount of the
   related costs. The amounts used are the one in USD from the account entries.



   - Import tax (USD): must be the real amount: calculated based on the
   purchasing cost and the import tax of the product.
   - Purchase Price (USD): from the purchase order line.



   - Total Cost of Goods: Calculated as the sum of all costs
   - Cost of Goods per Unit = Total Cost of Goods / quantity of products
   - Current Cost of Goods per Unit: current value in the form Product >
   Price


Best regards,

Jean-Chales Drubay
trobz.com
*


On Mon, Jan 21, 2013 at 10:47 AM, Jean-Charles DRUBAY <jcdrubay@xxxxxxxxx>wrote:

> +1
>
> Jean-Charles
> @ AllAboutMuine.com
> On Jan 21, 2013 8:41 AM, "Eric Caudal" <eric.caudal@xxxxxxxxxxxxxx> wrote:
>
>>  Currently our taxes are included in price for the calculation in PO but
>> VAT should not be included in cost/.
>>
>> I would vote to add a check box in the tax definition: "Included in cost"
>> and depending on this check box it would take it or not into consideration.
>>
>> Any other feedback?
>>
>>  Eric Caudal*CEO*
>> --*Elico Corporation, Shanghai branchOpenERP Premium Certified Training Partner *
>> Cell: + 86 186 2136 1670
>> Office: + 86 21 6211 8017/27/37
>> Skype: elico.corperic.caudal@elico-corp.comhttp://www.elico-corp.com
>>
>> [image: Elico Corp]
>> On 01/21/2013 03:43 AM, Bojan Markovic wrote:
>>
>> Hi again.
>>
>> I've actually found out that English language (and few others) IAS are
>> actually freely downloadable from the IFRS page (http://www.ifrs.org)
>> i.e. that the registration on the site doesn't require paid membership, in
>> fact it doesn't even have email verification.
>>
>> Here is the original English IAS-2, art.11 c/p verbatim:
>>
>> *The costs of purchase of inventories comprise the purchase price,
>> import duties and other taxes (other than those subsequently recoverable by
>> the entity from the taxing authorities), and transport, handling and other
>> costs directly attributable to the acquisition of finished goods, materials
>> and services. Trade discounts, rebates and other similar items are deducted
>> in determining the costs of purchase.**
>> *
>>
>>
>> Here is the download page:
>>
>> http://www.ifrs.org/IFRSs/Pages/IAS.aspx
>>
>> Regards,
>>
>> On 20.01.2013 12:55, Eric Caudal wrote:
>>
>> I understand that the purchase price must include all costs (and import
>> duties or transport/forwarder fees should be considered in it ) but I would
>> say the VAT is not a cost as it has to be supported by the final consumer.
>> On 01/20/2013 06:41 PM, Bojan Markovic wrote:
>>
>> While this would obviously greatly depend on legislature, International
>> Accounting Standards and most legislatures I'm familiar with are such that
>> warehouse stock (and therefore by extension average procurement price) is
>> evidented that all the costs of procurement are included in stock price
>> incl. transportation and customs costs and all taxes, apart from those that
>> can be retrieved back (like sales tax and/or VAT). -- IAS 2 - article 11.
>>
>> I only have them in Croatian so the original English text might differ a
>> bit.
>>
>> On 20.01.2013 10:47, Eric Caudal wrote:
>>
>> Hi,
>> When we purchase a product price tax included, the average price is
>> calculated with taxes.
>> It seems to me weird (cost price should never include taxes) but is there
>> any accounting expert to enlighten this topic?
>> Best regards
>>
>>
>>
>>
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