Some of the Acronym used in system and its usage.


Landing Cost (LC)

Actual purchase cost. The total cost of a landed shipment including purchase price, freight, insurance, and other costs up to the port of destination. In some instances, it may also include the customs duties and other taxes levied on the shipment. this can be used for calculating the profit margin

MRP

Maximum retail price (usually rate printed in item/Product )

Selling Rate

Selling price (Excluding the tax) used in sales screen,

IT No

Income tax number

TIN No

Company identification number

DB

Debit

CR

Credit

OB

Opening balance

Qty

Quantity

Stock in hand

Opening stock of item in hand