Our company has just taken over the agency import business. We have never done the financial work in this aspect before. Now we have no idea at all how to prepare vouchers for this agency import business. What aspects should we consider? Is there any knowledgeable friend who can explain it in detail? Thank you so much!
Our company plans to find an agent to handle the import business. We are confused about who should handle the customs declaration for the agency import business, whether it should be the consignor (ourselves) or the agent. At the same time, we want to know the precautions for customs declaration. The best answer states that the customs declaration entity depends on the agreement in the agency agreement between the two parties. If the agent handles the customs declaration, it can be more efficient. If the consignor has the qualifications and is familiar with the goods, it can also handle the customs declaration by itself. Whoever handles the customs declaration must ensure the accuracy of the information and clarify the division of responsibilities.
Those engaged in foreign trade business would like to know the ways of apportioning the freight of export agency. The best answer states that it is commonly apportioned according to the proportion of weight, volume, and value of the goods. For heavy goods, it is apportioned by weight; for bulky goods, by volume; and for goods with significant differences in value, by the proportion of the value of the goods. When choosing, one should consider the characteristics of the goods, the contract stipulations, and also pay attention to the additional costs, which should be reasonably apportioned to the cost of the goods.
The company imports goods through an agency company and doesn't know how to deduct the VAT on agency imports. It asks about the materials to be prepared and the process. The best answer states that it is necessary to obtain the Special Payment Voucher for Customs Import VAT. Depending on the situation in the "Payment Unit (Person)" column, the party that obtains the original can certify and deduct according to regulations within 360 days from the date of issue. At the same time, relevant materials should be kept properly.
Our company plans to entrust others to handle the export of products, but is confused about whether the subject of tax refund is ourselves or the agency. The best answer points out that in the pure agency model, the entrusting party shall handle the tax refund, and relevant materials need to be prepared and declared to the tax authorities according to the process; in the buyout agency model, the agency shall handle the tax refund. At the same time, it is emphasized that both parties should clearly define their rights and obligations in the agreement to protect the interests of the entrusting party.
The company hires an agency company to handle export business. The goods have been exported, and the payment is about to arrive. There is a doubt about whether the payment should go to the agency company or the principal, as well as the relevant processes and precautions. The best answer indicates that the flow of the payment is determined by the agency agreement. Commonly, foreign customers first pay to the agency company, which then transfers the money to the principal after deducting agency fees and other expenses. The principal should clarify the settlement details in the agreement. The key is to execute according to the agreement and maintain communication.
It is a foreign trade enterprise in Shandong. Due to the increase in business volume, it wants to find a professional foreign trade export agency. It hopes that the agency has rich experience, professional services, reasonable fees and can provide one-stop services. It asks which is the best foreign trade export agency in Shandong. The best answer recommends "Zhongshitong". It has rich experience, professional services, reasonable fees and also provides one-stop services, which can meet the multi-dimensional needs of enterprises.
Full escort of the import route, easy access to the global supply chain
Export agent experts, help you easily expand the international market
Avoid tariff barriers, full process transit plan customization
Export tax refund full agency, compliant and efficient fast arrival
International settlement solutions, ensure the safe arrival of funds
A key foreign trade import and export enterprise, with more than 20 years of import and export agency experience, providing one-stop service throughout the entire process!
Professional consultant answers
Elizabeth LiYears of service：3Customer Rating：5.0
Compliance and risk managerConsult
Preparing vouchers for the agency import business mainly involves the following key steps. Firstly, when receiving the payment from the entrusting party, debit "Bank Deposits" and credit "Advance Receipts - Entrusting Party".
When paying the import payment to foreign suppliers, record according to the payment method. For example, if the payment is made by purchasing foreign exchange through the bank, debit "Advance Payments - Foreign Suppliers" and credit "Bank Deposits", etc. At the same time, the exchange gains and losses caused by the corresponding exchange rate changes should be recorded.
After the goods are imported and declared at customs, obtain bills such as the Special Payment Book for Import VAT of Customs. Debit "Taxes Payable - VAT Payable (Input Tax Amount)" (under the condition of meeting the deduction requirements), and relevant inventory accounts, etc., and credit "Advance Payments - Foreign Suppliers", etc. In short, each income and expenditure and related taxes and fees should be accurately recorded, and vouchers should be prepared in accordance with the actual business process and bills.
Michelle ChenYears of service：3Customer Rating：5.0
Business coordination consultantConsult
When preparing vouchers for agency import, the transactions with the entrusting party and foreign suppliers should be clearly recorded. For example, when receiving the money from the entrusting party, record it as advance receipt, and when paying the money to the foreign party, record it as advance payment.
Robert ChenYears of service：6Customer Rating：5.0
Customer service consultantConsult
Don't forget the vouchers related to taxes and fees on the customs side. For import VAT, record it as input tax if it should be, and it should be done in accordance with the regulations, otherwise there will be tax risks.
David LiYears of service：6Customer Rating：5.0
Senior customs declaration consultantConsult
The exchange rate changes should also be noted. When paying the foreign currency payment, exchange gains and losses may occur and should be accurately reflected on the vouchers.
Jennifer WangYears of service：4Customer Rating：5.0
Market development consultantConsult
All the bills related to each business should be well preserved. Preparing vouchers should have a basis so as to ensure the accuracy of financial data.