When an export agency company keeps its accounts, first of all, when receiving the goods sent by the consignor, no accounting treatment may be required, but a memorandum account should be set up for registration. When purchasing goods, debit: Goods on consignment for sale, credit: Accounts payable for goods on consignment for sale. After export customs declaration, recognize the revenue, debit: Accounts receivable - Customers, credit: Main business income - Agency export income. At the same time, carry forward the cost, debit: Main business cost - Agency export cost, credit: Goods on consignment for sale, debit: Accounts payable for goods on consignment for sale, credit: Accounts payable - Consignor. When collecting foreign exchange, debit: Bank deposits, credit: Accounts receivable - Customers. When settling the agency fee, debit: Accounts payable - Consignor, credit: Other business income - Agency fee income. When paying the remaining amount to the consignor, debit: Accounts payable - Consignor, credit: Bank deposits. Attention should be paid to the impact of exchange rate fluctuations on the amount of foreign exchange collected and adjust the exchange gain or loss in a timely manner. Meanwhile, the agency fee income shall be subject to relevant taxes and fees according to regulations.
In addition, all business vouchers should be properly preserved for tax inspection.
Professional consultant answers
Sarah ZhangYears of service：8Customer Rating：5.0
Document expertConsult
When an export agency company keeps its accounts, first of all, when receiving the goods sent by the consignor, no accounting treatment may be required, but a memorandum account should be set up for registration. When purchasing goods, debit: Goods on consignment for sale, credit: Accounts payable for goods on consignment for sale. After export customs declaration, recognize the revenue, debit: Accounts receivable - Customers, credit: Main business income - Agency export income. At the same time, carry forward the cost, debit: Main business cost - Agency export cost, credit: Goods on consignment for sale, debit: Accounts payable for goods on consignment for sale, credit: Accounts payable - Consignor. When collecting foreign exchange, debit: Bank deposits, credit: Accounts receivable - Customers. When settling the agency fee, debit: Accounts payable - Consignor, credit: Other business income - Agency fee income. When paying the remaining amount to the consignor, debit: Accounts payable - Consignor, credit: Bank deposits. Attention should be paid to the impact of exchange rate fluctuations on the amount of foreign exchange collected and adjust the exchange gain or loss in a timely manner. Meanwhile, the agency fee income shall be subject to relevant taxes and fees according to regulations.
In addition, all business vouchers should be properly preserved for tax inspection.
Joseph ZhouYears of service：10Customer Rating：5.0
Senior foreign trade managerConsult
In accounting treatment, agency business and self-operated business should be strictly distinguished and not be confused. Relevant documents such as customs declarations and bills of lading should accurately correspond to accounting records to ensure that the accounts match the actual situation.
William YangYears of service：5Customer Rating：5.0
International logistics consultantConsult
In the foreign exchange collection link, attention should be paid to foreign exchange management policies and relevant procedures such as foreign exchange collection verification should be handled in a timely manner. In accounting, the origin and destination of each business fund should be clearly recorded for the convenience of later reconciliation.
Robert ChenYears of service：6Customer Rating：5.0
Customer service consultantConsult
Pay attention to regular reconciliation with the consignor to ensure that both parties have consistent information on goods, funds, etc. When encountering large exchange rate fluctuations, prepare in advance to deal with risks and adjust the accounts reasonably.
Elizabeth LiYears of service：3Customer Rating：5.0
Compliance and risk managerConsult
For the tax refund business involved in agency exports, be familiar with tax refund policies and procedures, accurately calculate the tax refund amount, and assist the consignor to handle tax refunds in a timely manner.
James LiuYears of service：10Customer Rating：5.0
Foreign trade tax refund consultantConsult
Accounting treatment should follow accounting standards and relevant tax laws and regulations to ensure compliance. In terms of cost accounting, accurately calculate the costs of various agency businesses.
Michelle ChenYears of service：3Customer Rating：5.0
Business coordination consultantConsult
Update exchange rate information in a timely manner. Foreign exchange collection and payment should be converted according to the actual exchange rate to avoid accounting differences caused by exchange rate issues. Do a good job in tax declaration to avoid the risk of tax evasion.
Jennifer WangYears of service：4Customer Rating：5.0
Market development consultantConsult
For possible bad debts, prepare in advance and make provisions for bad debts according to regulations. Meanwhile, strengthen communication with customers and consignors to reduce the risk of bad debts.
David LiYears of service：6Customer Rating：5.0
Senior customs declaration consultantConsult
Establish a sound financial management system to standardize the accounting process. When handling agency export accounts, each business should be recorded in detail for easy traceability and query.