The Importance of Customs Settlement Report Services for Businesses

Customs settlement reporting is a specialized task requiring absolute precision and tight data coordination among multiple departments. For manufacturing and processing enterprises, managing complex goods flows often leads to risks of data discrepancies. Therefore, utilizing a professional settlement reporting service is becoming an urgent and optimal solution.

Why do businesses need a settlement report service? During actual operations, businesses frequently face risks of errors in managing the Import – Export – Inventory process, specifically:

Businesses often encounter surplus, shortage, or incorrect item codes upon warehouse receipt compared to the purchase order (PO).
Raw materials are issued from the warehouse for various purposes without notifying the Import-Export department, leading to data discrepancies.
Actual inventory data differs from the data provided by Accounting and Import-Export, but the warehouse department fails to report this promptly.
The Import-Export department risks declaring items incorrectly compared to the PO, or inventory loss occurs due to poor management processes and outdated software.
These discrepancies stem from human error, system loopholes, a lack of cross-checking procedures, and ineffective communication between departments.

Through the settlement report service, businesses are supported in:

Prompt discrepancy handling: Early detection of issues allows for short-term solutions such as requesting supplementary imports, amending declarations (AMA), or notifying a change in usage purpose.
Long-term system improvement: Establishing procedures for cross-checking actual quantities, enhancing supervision (requiring signatures, CCTV), and providing professional training to staff on customs regulations.
Legal compliance: Ensuring timely submission of electronic reports (within 90 days after the end of the financial year) and maintaining transparent records for at least 5 years for inspection purposes.

Standard Procedure for Settlement Report Services To complete a comprehensive settlement report, a professional service operates through a roadmap of daily data collection, monthly discrepancy handling, and annual reporting following 8 strict steps:

Data collection: Gather all customs declarations and destruction minutes from the Import-Export department; combine them with the item code list, technical norms (BOM Cost), inventory ledgers, and accounting accounts (152, 154, 155, 511…) from the Accounting – Warehouse departments.
Code mapping: Create a mapping table linking the factory’s codes with Customs codes, determining conversion rates if units of measurement differ, to accurately aggregate goods quantities.
Data processing and cross-checking: Detail cross-checking of raw materials and finished products to detect book discrepancies, document mismatches (missing parts), un-warehoused declarations, or trading transactions outside of export production sources, allowing for timely AMA amendments within the 60-day limit.
Norm reconciliation: Compare the actual issued quantity from Accounting with the total norms declared to Customs when opening export declarations.
Inventory closing: Aggregate the inventory of raw materials (152), semi-finished products (154), and finished products (155), linking them with Customs codes to accurately determine Work in Progress (WIP) and calculate actual consumption.
Import – Export – Inventory tracking based on Customs data: Record opening inventory, imports, and exports during the period to calculate the actual discrepancy between the factory and Customs, thereby preparing explanatory documents for post-clearance audits.
Discrepancy analysis and handling: Finalize data on the last day of the month, analyze root causes to propose short-term handling solutions, and orient long-term system improvements.
Preparation, submission, and archiving: Aggregate reports according to forms 15, 15a, 16 (Appendix II – Circular 39/2018/TT-BTC), submit electronic reports, and complete the archive files for the client.

The customs settlement report service acts as a solid risk filter for businesses. By applying a systematic control process from the warehouse to customs, this service not only helps businesses achieve data transparency and fulfill legal obligations on time but also optimizes their entire internal operational system.