Thailand | Inventory Management: Allocation of Miscellaneous Expenses
swifT - Various Allocations
What is the allocation of indirect costs required in inventory management?
The allocation of import miscellaneous expenses refers to the distribution (apportionment) of import-related costs to inventory amounts based on specific rules. Import miscellaneous expenses mainly refer to various costs such as customs duties, customs clearance fees, and transportation costs. According to Thai accounting standards, it is required that the inventory amount at the end of the month includes the amount of import miscellaneous expenses. Therefore, the product price of purchased products (the price stated on the invoice) must have these import miscellaneous expenses added to it, and inventory management and financial closing must be conducted based on that amount. Generally, the invoices for product purchases and those for customs duties and customs clearance fees are often received separately. In some business systems, there may not be a function to allocate import miscellaneous expenses to the inventory amount, leading to cases where the inventory amount for financial closing needs to be managed separately in Excel.
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basic information
swifT has a standard feature for allocating import-related costs. You can choose from three allocation criteria: amount-based, quantity-based, or free input. For more details, please feel free to contact us.
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Company information
Tokei Densan was established in 1970 as an SI company born from the computing division of Tokyo Roki Co., Ltd., a manufacturer of automotive parts. Initially focused on the development, operation, and maintenance of ERP products for automotive parts manufacturers, it now develops products and services specialized for various industries and business operations, not limited to manufacturing. Our department (Manufacturing Systems Sales Department) is the oldest division within Tokei Densan and is a crucial part of our revenue foundation. Since its inception, it has consistently provided outsourcing and original system construction services to manufacturing customers, growing alongside the times and advancements in technology. In particular, for our main users, automotive functional parts manufacturers, we have continuously provided systems incorporating the latest technologies for over 30 years. The rich technology and know-how cultivated in this area are still utilized in system construction for a diverse range of customers, regardless of their business type or size. In 2012, we established a local subsidiary in Thailand, the center of ASEAN where Japanese companies are increasingly expanding, to support the development and implementation of business systems, primarily focusing on sales management and accounting systems, for local Japanese companies.