AIRSHIP OPERATIONS INC
Understand and account for a airport operators invoice
Often present in international operations, freight forwarders, who are charged with negotiating with carriers and organizing transport, often have a very specific method of billing.
This term (forwarder) is first and foremost a generic name that groups together a number of activities.From a purely legal point of view, there are both agents (customs agents, port freight forwarders or airport operators) and commission agents (group consignor, road charterer, authorized economic operator).
Finally, freight forwarders specialize according to the mode of transport, the geographical area, the goods, the type of operations …
There are two types of invoices that can be issued by freight forwarders: import and export.
Accounting for the freight forwarder’s invoice: the different accounts to be used
To properly account for the invoice of a freight forwarder, one must first understand it and understand certain specificities of their operations. Once the different lines have been understood, the accounts to be used are always the same.
Expense accounts are used for items at the expense of the company such as customs duties, fees or remuneration of freight forwarder and freight charges.
The schedule of entries thus becomes the following (subject to not incorporating the costs into the purchasing accounts concerned):
|60xxx||For customs duties|
|6224xx||Remuneration of freight forwarder|
|445660||VAT on goods, customs duties and freight forwarding charges (with option for debits, 445860 otherwise)|
As far as customs duties are concerned, they will be incorporated into the purchasing costs of the raw materials or goods, whenever the allocation is possible. In the case of goods, customs duties must be entered in account 607000, which corresponds to the goods purchased or in a sub-account (example: 607110 customs duties on type A goods). The use of an account 608xxx “accessory purchase costs” is also possible.
Account 635xxx dedicated to customs duties will only be used if customs duties can not be charged to the purchase cost. Visit Online bookkeeper gold coast for more information.
Understanding the invoice of a freight forwarder to import: the different lines lines – customs duties, VAT and freight charges …
When importing, the freight forwarder’s bill is often accompanied by:
- The invoice of the foreign supplier;
- The Single Administrative Document (SAD) or Customs Document;
- Transport documents (international consignment note (road), CIM (rail) consignment note, air waybill or sea bill of lading).
It usually comprises two columns depending on whether or not the transactions are subject to VAT in France.
The following table is based on the regulatory framework for invoicing proposed by the Federation of Transport and Logistics Companies of France (TLF). The following table is just one example. Not all of these lines are always present on all invoices.
The customs agent usually makes advance payments of duties and taxes for imported goods, hence the presence of VAT and customs duties.
Intervention fees are fees, freely negotiated between the commission agent and his client.
The collection credit is a guarantee given by a bank or an insurance company to the commission agent, which entails a financial charge which the latter then passes on to each importer.
The advance of funds is the remuneration of the commission agent who advances the duties and taxes for his importing customer. It represents 1% of duties and taxes per month.
The insurance and management line is filled in when the freight forwarder assumes the insurance of the risks of transport and the rebacture to his customer with a management fee in addition.
The last part of the invoice makes it possible to total the taxable and non-taxable amounts and to indicate the VAT invoiced in addition by the freight forwarder.
Invoicing a freight forwarder is easier than importing
Because export clearance is much simpler than importing, these bills are much simpler than the previous ones.
Only the customs agent’s expense lines and the freight forwarder’s costs (including freight costs) generally remain.
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