Do you know the true costs of your imported goods? Or are you driving blind hoping that the profit margins you are expecting on a deal are the ones that will end up in your pocket?
The advantage of a global community is that you can source goods from almost anywhere in the world. And often these goods are incredibly cheap. But just because you’ve found a lower price for a product doesn’t mean it’s less expensive once you’ve paid to import it into your own country. In addition to the price of a product, you must factor in transportation costs, customs, fumigation costs, insurance charges, taxes and duties.
Put bluntly – if you don’t know your true profitability, there is a risk that you will sell your goods at a loss or with minimal profit.
This isn’t the sort of information you want to be putting into a spreadsheet. It’s simply too complex and doing this sort of data entry runs the risk of error. And then, of course, there’s the time these sorts of spreadsheets take to complete.
MYOB EXO Finance helps you determine an accurate estimate of the landed cost of your products by calculating the often hidden costs that need to be paid before the goods can be delivered to their destination.
MYOB EXO Finance allows you to capture actual shipping, handling, and import fees (landed costs) and easily roll them into the total cost of goods. You will be able to accurately calculate your inventory valuation by including additional charges beyond item purchase costs, such as miscellaneous origin and destination fees.
The benefits are clear – EXO Finance ensures you have the correct cost and profit analyses by accounting for all the costs incurred in the delivery of inventory to the warehouse door, whether the costs are known at receipt or sometime thereafter. The program is able to effectively record and account for the landed costs associated with goods acquired from international suppliers using multiple currencies.
EXO allows you to spread the costs of duty, local and domestic freights and customs inspections – all based on value, duty, weight and quantity.
At the touch of a button, you will know the true cost of an item as well as the true profitability when you come to sell it. There will be no hidden or missed, costs.
EXO Finance is designed to help you avoid unprofitable deals and to ensure you improve your profit margins.
How EXO Finance ensures you keep track of ALL the costs of landed goods: