Freight In with different currencies

My base currency is SGD.
I imported goods (inventory items) in USD.
I used courier service who charged in SGD.

I read the guide on Freight-In: Manager Cloud, but how do I handle the different currencies here?

Appreciate your advice, thanks.

Make sure to enter correct exchange rates under SettingsExchange rates.

Manager will use these exchange rates to convert your inventory cost in USD to your inventory cost in SGD.

Thanks for the quick response.

I did set the exchange rates as you suggested.

The problem is that on the Purchase Invoice screen where I have the inventory stock which I purchased in USD, when I add a line on Freight-In, I cannot enter the courier fee in SGD. Any advice on this?

The only workaround I can think of is to manually convert the SGD courier fee to USD, before entering it in Freight-In.

Are you not paying your supplier in USD on one invoice and the courier in SGD on a different invoice? If so, there should be two different sales invoices in Manager, with two different suppliers.

Yes, I am buying an item (let’s call it item “A”) from a supplier in the USA, in USD, ex-works basis.

And I am using a courier, say, UPS, to bring in the goods into Singapore, and paying the courier in SGD.

How do I get the landed cost of item “A” in this case? (adding the cost of the item (USD) with the courier fee (in SGD)?)

As @Tut said, you have received two purchase invoices. So in Manager you need to enter two purchase invoices, one per each supplier.

When recording courier purchase invoice, categorize their amount to inventory item you have purchased. Just make sure not to enter anything to Qty column as you don’t want to increase quantity, only value on hand.

Ok, I think I got it.

It is pretty straightforward if the purchase invoice for inventory item has only one item, so that the courier purchase invoice amount is categorized to the one inventory item.

However, if inventory item has got more than one items, then I guess we have to manually break the courier amounts proportionately to be categorized to each inventory item.

Thanks for your help.

No, you do not. Always read the Guides first when you have a question, in this case Manager Guides. You said in your initial post that you read this, but perhaps you were looking only for information about multiple currencies and overlooked the portion about allocation to multiple line items?

I did read the portion about freight-in.

Now I am confused. This is what I did:

  1. I created a purchase invoice for inventory item for 2 items, say A an B, in USD.
  2. I created another purchase invoice for courier fee, in SGD. This fee is lumpsum fee, no breakdown for item A and B.

How do I “categorize” the courier amount to inventory item A and B? Am i missing something here?

From the Guide-

“If you are purchasing multiple inventory items, you don’t have to manually calculate cost as per each inventory item. If you have freight-in cost to be proportionally allocated across all purchased inventory items, select Inventory on hand account, then select Freight-in item.”

This is fine when items and freight are on one purchase invoice but when there is two invoices, one for items and one for freight you can’t.

Think you have to allocate freight proportionally to each item on freight invoice.

I think you are correct and not missing anything @hendra98h

You will have to break-it down among individual inventory items if you want this amount to be capitalized to inventory on hand.

As @itmoto says, special Freight-in inventory item is only useful if you are buying inventory items and shipping from the same supplier on the same purchase invoice. This is not what’s happening in your case.