Inventory and Inventory costs tracking

Inventory questions

Good morning dear colleagues

let me describe my line of business first
We are trading raw materials, which we purchase in bulk by vessels.

For example of a straight vessel mv A was loaded 10 000 tons of cargo in loading port , delivered in our stock yard in discharge port. The quantity loaded is being splited in 5 Bills of Lading (not necessarily in equal proportions). Before receiving the cargo in our Stock Yard, we need to file to Customs the BLs of the vessel together with our warranty cheques to obtain Bill of Entry and Customs approval for discharge the cargo in our Stock Yard.
Costs involved during import procedure and discharge in Stock Yard:
Purchase of Goods (per ton)
Sea Freight (per ton)
Demurrage or Dispatch at Loading port (time )
Demurrage at Discharge port (time)
Cost of Discharge operations (per ton)
Cost of Transportation from Berth to Stock Yard (per ton per truck)
Rent of Stock yard (per sqf)
Port Agent Fees (per ton)
Waranty Cheques (those could be refunded if sale done within 6 months and presentation of proof documents to customs ) (per BL)
quality Survey Agency (fixed or per ton)
weight scales (per truck)
After discharging the cargo in the Stockyard, we sale on DAP terms to customer warehouse. This sale may not be for the full quantity but for part of it, like 1 BL or 2 BL. Our port Agent issues Delivery Notes for the customer, after receiving weight scale result from the customer weight bridge. Final invoice is issued – and payment is received.
Costs involved :
Truck Loading operations
Delivery to customer by truck
weight scales (per truck)
Port Agent Fees
quality Survey Agency
Stock Yard Rent

In Case of sale of combined cargo from 2 or more vessels, Stock received in stock yard in separate stock piles, and later a mix is prepared for the customer needs by blending operation. Further it follows the same procedure as above regarding sale

Costs involved :
Truck Loading operations
Delivery to customer by truck
weight scales (per truck)
Port Agent Fees
quality Survey Agency
Stock Yard Rent
Blending cost

My target is to be able to record my actual cost per each vessel from Purchase to Sale so I could actualy see my profitability / loss margin.

How this can be done in Manager ?

I have tried by creating each vessel as a product and then adding the costs of the expenses on each “product” with empty quantity and only actual cost amount registered
But this cannot categorise the costs in expences…
Tried also throught Production orders which amend every time new cost comes in…

It seems that you need the help of an Accountant or Tax Consultant, to ascertain how your transactions should be booked.

After getting it, you can share it here to get the answer on how to book it in the manager.

2 Likes

What you are looking at is ability to record freight in and other inventory related costs into your inventory items.

You can record these charges against inventory items by specifying item and amount (do not enter quantity).

This would increase your unit cost per inventory item. When inventory item is sold, it would flow into your cost of goods sold account.

1 Like

try to use project tap

Thank you @lubos, i am already do this

My main target is to also be able to to trace how much expences per expence category. for expample
Total RENT expence
TOTAL AGENCY expence
Total Truck Transportation Expence
Total Port Expences

ETC
Please see below images to get a better idea…