Landed costs

Accounting
1

I am doing inventory counting for tax end year now. I import goods from Poland. I noticed I should add landed costs to my inventory. How to tag such cost to be included in tax year-end inventory? Or should I add them to the inventory value on the end of year?
Jack

2

Hello @awariat

I would recommend speaking to you accountant for tailored professional advice on the best way to record this.

We can help you enter it but can not advise on how/where to record such items.

3

Thank you, Steve
So, how to enter them? Or tag?
These are normal transport invoices

4

Hello @awariat

Normal carrier charges should just be entered as a purchase invoice to a shipping/carrier nominal code as per the invoice you receive from the carrier.

If it is stock which you have purchased to be held and you want an accurate figure on your balance sheet at year end you would do opening and closing stock journals.

5

Yes I do it, but I have just noticed I should add the carrier charges to my stock(should I?)
If I should, it should be on a separate line in closing stock journal or simply add them to stock line?

6

Hello @awariat

but I have just noticed I should add the carrier charges to my stock(should I?)

I would query this with your accountant

7

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