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In-Transit Asset Valuation
asah
Member Posts: 59
Can someone please comment on this issue. How does NAV handle inventory valuation in-transit? Ihave just purchased product from my vendor and it has been shipped but is in-transit. How do I record this asset as I have not officially received the product yet. Is there an 'in-transit" location?
0
Comments
If the term of the product you're buying is Ex-factory, then you will need to create a location for items stored at the vendor site. Then use transfer orders when the shipping agent you hired puts items on the boat.
The bottom line is, when do you take ownership of the goods. The time when the ownership of the item becomes yours is when you have to receive the goods into your inventory.
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