# Generate landing cost based on user-defined formula

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## 🧮✨ **Using Rate Formulas in Logic ERP for Smarter Purchase Rate Calculations**

**Logic ERP** provides users with the **flexibility**  to **define rate formulas**💸 as per their specific requirements. \
This feature allows for the **automatic calculation** of purchase rates based on **predefined formulas**, helping to **reduce manual work** 🤹, **eliminating errors** ❌, and ensure **pricing accuracy** ✅ during procurement.

With this tool, businesses can:\
📏 **Standardize pricing strategies.**\
⚙️ **Include various cost components.**\
📊 **Ensure consistent and accurate rate calculations.**

📝Follow the steps below to configure and use this feature effectively! 👇

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### ⚙️ Step 1: Configuring the Rate Formula in Logic ERP

1. **Open Purchase Voucher Configuration**

* Navigate **purchase** section🛒 and select **purchase voucher**📥 option. 
* Once you are in the **Purchase voucher** window. 
* Navigate to the **menu** again🧭 and click on **purchase voucher configurations** option under **configurations**⚙️ section.  

This section provides access to **various settings** related to purchase transactions, **including rate formula definitions**🧾.

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2. **Define the Rate Formula**

* Locate to the **other settings 1**🧩 option to **define rate formulas** under the **purchase settings**.
* Identify and **enter** the additional **expenses** or **cost components** that should be included in the purchase rate calculation, like:
  * 🚛 **Freight charges**
  * 🧾 **Taxes**
  * 🔖 **Discounts**
* Construct the formula based on your business requirements🧠, ensuring it aligns with company pricing policies📋.
* ✅**Save** the changes after finalizing the formula to apply it across relevant transactions💾.

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3. **Enable the Formula for Automatic Calculation**

* After saving the purchase rate formula, ensure that the setting ***Calculate Purchase Rate Through Formula***☑️ is **enabled** by **marking the checkbox.** 
* Activating this setting allows the system to **automatically compute purchase rates**🧮 based on the predefined formula whenever a purchase entry is made.

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### 🛍️ Step 2: Using the Defined Rate Formula During Purchase Entry

* Once the configuration is complete, **proceed** to the **purchase entry screen**🧾.
* Enter the purchase details as required.
* The system will **auto-calculate the purchase rate**💡 based on the predefined formula, **eliminating manual calculations**.
* You can review the calculated rate before finalizing 🔍
* Ensures **accuracy** and **compliance** with company policies ✅.

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### 🌟 Benefits of Using Rate Formulas in Logic ERP

#### 🎯 **Accuracy & Efficiency**

* No more manual math 🧮
* Fewer errors ❌
* Faster workflows ⏱️

#### 📐 **Standardized Pricing**

* Keeps purchase pricing consistent 🔁by incorporating predefined expenses.
* Incorporates expenses like freight and taxes automatically 📦💰

#### 🔄 **Flexibility**

* Allows businesses to define custom formulas that suit their operational needs🧩.

#### ⏳ **Timesaving**

* Automates the rate calculation process💰.
* Speeds up transaction processing ⚡
* Focus more on decision-making, less on data entry 🧠.

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### ✅ **Conclusion**

By following these steps in **Logic ERP**, you can **streamline** your purchase rate calculations, **reduce manual work.** Implementing predefined rate formulas ensures a structured approach to procurement, helping businesses **better control over pricing** and **cost strategies** 💼📊.

We hope this tutorial helps you **optimize your procurement workflow** 🚀.

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