Jennie Pham Foreign Trade Published: 5/28/21 Hits: 2,411

Key Features at a glance

These are highlighted features of the Foreign Trade module, including:

  1. Flexible logistics route for importing/exporting goods

  2. Stop the picking/delivery at the Custom Zone for custom declaration

  3. Automatically calculate taxes during custom declaration

  4. Integrated with Accounting for importing/exporting taxes automatic encoding into the accounting system

  5. Pay importing/exporting taxes

Module Installation

Step 1: Access "Apps" >> Find “Foreign Trade” in “Apps” >> Click the “Install” button to start installing the app


Step 2: After installing successfully, the “Foreign Trade” app will show up on the main screen as shown


Configuration

Establish default payment terms for import/export taxes

The default payment term is applied to importing/exporting tax and will be automatically filled when you working on Custom clearance documents.

  1. Import Tax Payment Term

Step 1: Access Module “Foreign Trade” >> Select menu “Configuration” >> “Settings”


Step 2: In the “import tax payment term” category, select “Create and Edit”



Step 3: Fill the information in the default tax payment term form, including:

  • Payment terms: name of the payment terms 

  • Description on the invoice: a short explanation of the payment term for the customer, this will be shown on the invoice

  • Terms: click "Add a line" to create payment terms with different term types and due date computation modes  






Step 4: Choose term type and due date computation.
When you click “Add a line", the term type form will pop up as shown below:



We encourage you to choose “Balance” as the payment amount in the term type form, so as to ensure that the whole amount will be allocated.
 

Step 5: Choose the payment period in the term type form. There are 4 options, including: 

  • Due in how many days after the invoice date, on which day of that month

  • Due in how many days after the end of the invoice month 

  • Due on which day of the month following the invoice month

  • Due on which day of the current month (invoice month)

Upon completing the term type form, select “Save & Close”. Choose “Save & New” if you want to create another term type, choose “Discard” if you don’t want to save the changes you just made.



    2. Export Tax Payment Term

Step 1: Access Module “Foreign Trade” >> Select menu “Configuration” >> “Settings”




Step 2: In the “export tax payment term” category, select “Create and Edit”




From step 3 onwards, repeat the same steps as in establishing the import tax payment term section.


Establish import/export tax journal

This feature allows you to establish a default journal for account entries related to import/export taxes.

Step 1: Access module “Foreign Trade” >> Select menu “Configuration” >> “Settings”




Step 2: Establish a default journal for account entries related to import/export taxes by selecting the square purple box next to the journal. 




Default Custom Clearance Journal shall pop up as shown below:




Step 3: Fill in the compulsory fields, denoted in light purple. These fields include: 

  • Journal name: Import/Export taxes journal     

  • Type: default type is Miscellaneous journal

  • Short code: the journal entries of this journal will be named using this prefix

Also, choose the default debit account and credit account in accordance with the charts of accounts your company uses.

Click “Save” to save all the changes you have made.

 Back to top