How to Manage Landed Cost in Odoo 18 Inventory | Odoo 18 Inventory Tutorials | Odoo 18 Tutorials
6In Odoo 18, landed costs represent the total expenses incurred to bring a product to your warehouse, encompassing the purchase price, shipping fees, insurance, customs duties, taxes, and other related charges. Accurately accounting for these costs ensures precise inventory valuation and profitability analysis.
Configuring Landed Costs in Odoo 18:
Enable the Landed Costs Feature:
Navigate to the Inventory app.
Go to Configuration -- Settings.
In the Valuation section, check the box for Landed Costs.
Select a Default Journal where all accounting entries related to landed costs will be recorded.
Click Save to apply the changes.
Create a Landed Cost Product:
Go to Inventory -- Products -- Products, and click New.
Set the Product Name (e.g., "International Shipping").
Set the Product Type to Service.
Under the Purchase tab, check the box for Is a Landed Cost.
Choose a Default Split Method to determine how the cost is allocated:
Equal: Splits the cost equally across all products in the receipt.
By Quantity: Allocates cost based on the number of units.
By Current Cost: Distributes cost according to each product's value.
By Weight: Allocates cost based on product weight.
By Volume: Distributes cost based on product volume.
Save the product.
Applying Landed Costs to Vendor Bills:
Create a Purchase Order (PO):
In the Purchase app, create a new Request for Quotation (RfQ).
Add a vendor and the desired products.
Confirm the order and receive the products.
Add Landed Costs to the Vendor Bill:
From the PO, click Create Bill.
In the Vendor Bill, add the previously created landed cost product as a new line item.
Ensure the Landed Costs checkbox is checked for this line item.
Click Create Landed Costs at the top of the bill.
Compute and Validate Landed Costs:
In the Landed Cost form, select the relevant transfer in the Transfers field.
Click Compute to allocate the additional costs based on the chosen split method.
Review the allocations under the Valuation Adjustments tab
Click Validate to finalize and post the entries to the accounting
By following these steps, you can accurately incorporate additional costs into your product valuations, leading to more precise financial reporting and inventory management.
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