Assume we deal with around 10 items. Out of which 2 items are kept in cold storage warehouse for which we pay monthly rent. Though the rent is a expense, we want to also increase the valuation rate of these 2 items based on how much rent we paid. This will help decide the MRP.
I see that valuation rate of an item is affected by purchase invoice, and stock entry (with additional costs). But if i want to distribute the monthly cold storage rent on the items store in the cold storage warehouse, what should i be doing. So that valuation rate of these items are updated properly every month.
Pls let us know.
Any recommendations here please.
Thanks for the response @Basawaraj_Savalagi
Landed cost voucher looks to be for purchase invoice/recipt
In our case, we already have the stock in a warehouse. And we need to increase the valuation every month, based on the cold storage rental value.
It might work for your purpose as well.
Actually this stock is opening stock from previous Fiscal Year. We have just started using ERPNext for current fiscal.
I dont have a purchase rcpt/inv for the same.
I was thinking to use a stockEntry:Repack with both source and final product as the same item. And add rent in additional cost section, to increase the valuation rate.
Is this a good method.
- Take the Days on Hand (DoH) for each of your item. DOH, = number of days a SKU stays in your in stock (in the WH)
- Calculate, the rate for each of your SKU’s rental cost PER DAY (or per month…per week…whatever)
- Multiply STD RENT = DOH X DAILY RENT
- Apply a STD RENT to each of your SKU
Use the Landed Cost Voucher to apply STD RENT to all incoming ITEMS.
How you technically do it, I am not an expert. But that is how I would do.