Meaning
Digital accounting systems manage the record of imported raw materials and the subsequent export of finished products for bonded manufacturing activities. The processing trade electronic ledger tracks the specific quantity of duty free inputs currently stored within the factory premises. Customs authorities monitor this ledger in real time to ensure no materials are illegally diverted into the local market.
Bonded Management
Importers open a specific file for each contract or manufacturing period to detail the conversion formulas of their components. Every withdrawal from the processing trade electronic ledger must correspond to a verifiable export shipment or an approved scrap disposal. If the volume of inputs does not balance with the output data, the bonded status of the remaining goods is terminated.
Reconciliation Duty
Regular audits compare the data in the physical warehouse with the entries found in the central database. Balancing the processing trade electronic ledger requires the enterprise to report any production losses or defective units immediately. Officials use this information to calculate the final tax obligations when the ledger is officially closed at the end of the term.
Systemic Integration
Direct links between the customs single window and the factory software maintain data consistency.
