#export software

After a long deliberation period, the UK finally left the EU during January 2020. However, the two parties are still going through a transition period, which is going to expire at the end of 2020. This implies that the new trade rules are going to be implemented starting January 2021. In this regard, the UK government has recently published guidance for sending goods to and from the EU. This guidance focuses on the post-transition period, i.e. the goods traded from January 2021. This blog focuses on analysing the key aspects of the new guidance and assesses its importance for traders.

Key Aspects of the New Guidance

The first and foremost aspect of the new guidance is that UK-based traders will have to make a customs declaration before exporting goods to the EU. A similar declaration would also be required in case you are importing goods from the EU. Such a declaration should include key information about the goods being traded. The key areas that are covered under the declaration include a description of the goods as well as the appropriate tariff codes assigned to the products.

The second point that you need to keep in mind is that you may require new licenses and permissions in order to trade goods with EU business partners. The actual license depends upon the type of goods that you are trading. For example, goods and services categorised under the technology sector would need different permissions compared to food items. You need to check with the UK government website in order to ensure that you have the required permissions according to your items.

Thirdly, you will also need to ensure that you are registering a UK-specific EORI number in order to execute your trades. This EORI number usually starts with the letters GB. Further, you will also need to obtain a new EU EORI number if you are planning to import or export goods within the EU. In addition to the above, the tariff scheme will also change post-2020. As of now, the Common External Tariff of the EU customs union is applicable to all trades taking place within the EU. However, starting from 1st January 2021, the UK Global Tariff is going to replace it. The UK government has already set up a search tool that helps you in comparing the tariffs under the old regime and the new regime.

Finally, one point of relief for the traders is that the standard VAT rate will remain the same even in 2021. This rate has been frozen at 20%. In addition, the new guidance states that UK-based traders will now be allowed to zero-rate their goods. This implies that traders can charge their customers a 0% VAT. This rule is applicable to customers within the EU as well as outside the EU.

Thus, it is clear that the new guidance includes several changes compared to the earlier trade regime. It is advisable that traders make use of specialised export software in order to keep track of the changes that are taking place. This could help you in mitigating your compliance risk and ensure smooth trade operations.

Conclusion

In conclusion, it is evident that there are multiple regulatory aspects that UK-based traders need to comply with. If you need external assistance related to your trade compliance program, there are various trade management firms active in the market.

Our export management software makes sure that your business is fully compliant with all trade regulations. For more information about our global trade management software offerings, please contact us.

Best Export Documentation Software For Manufacturing Industries

Much of my day is utilized talking with people on the phone who have expressed interest in learning further about the Sky ERP Export Plus export documentation in India and compliance software. The ones who become customers tend to have many of the same reasons for funding the software.

this article outlines the five most popular reasons why companies invest in and use total export solution software. If you’re on the fence attempting to determine whether or not import export business software is a worthwhile investment, take a glance at the information below. It will assist you towards making a well-informed decision.

Ensure Consistency throughout Your Company Exporting companies that do not have an import and export documentation and compliance software in place frequently have a rather haphazard procedure for designing their export business documents. They may use Word or Excel templates, which entails typing the same data over and over and making a lot of copying and pasting. These processes are time-consuming and tedious.

I recently chatted with a company that used an accounting software to create their packing lists, different software to produce bills of lading, and yet different software to create commercial invoices. They applied templates found online for other documents like certificates of origin, and they relied on their freight forwarders to supply shipper’s letters of instruction, which they then filled out by hand.

Using three modified software solution programs and having several sources for their other export registration documents makes for a rather disorganized, inconsistent and potentially unreliable process.

Assume instead that you have one software program to produce all of your export procedure and the database is distributed across multiple workstations, so employees can easily view and choose the import export registration records prepared by other employees if needed.

With the click of a button, you can pull in your contact and product information for each consignment from a database, and this information will be automatically appended to all the documents for which it is needed with the precise formatting. You simply enter the information once, and you’re good to go.

This is the truth for Sky ERP Export Plus users, and this ability to organize import export documentation procedure and make the overall design more consistent is the single biggest reason why companies end up purchasing export software.

Reduce the Time It Takes to Build Export Business Documents one system for all your standard export paperwork will cut down on the time it demands to generate the documents. Our customers state they can produce their documents up to five-times faster than traditional methods like using templates. They’re able to accomplish this because software solution like Sky ERP Export Plus is specifically designed to eliminate redundant data entry.

Software enables you to enter information common to multiple documents on a single screen, rather than having to retype the same information over and over repeatedly for each document.

Enhance the Accuracy of Your Export Documents Manual data-entry methods like using Word or Excel templates are inclined to errors. The more typing you do, the greater the risk of executing a typo. These mistakes can hold up your shipment, prevent you from getting paid on time, or get you in trouble with customs.

Automating your export incentives plans by using export software significantly cuts down the amount of typing you need to do, resulting in less errors and, in turn, less headaches for you and your customers.

Stay on Top of Evolving Regulations Export industry regulations are constantly changing. The data needed on export documentation paperwork, product classification codes (such as HS codes or ECCNs), and industry best practices are in a constant state of flux. It can be a challenge to try and keep up-to-date on the changing regulatory environment.

fortunately, software can help in this respect. Software like Sky ERP Export Plus is consistently updated to reflect changing regulations and emerging best practices. When you apply Sky ERP Export Plus, you can be confident that you are using only the most up-to-date information.

Monitor Your Export Process Sky ERP Export Plus includes a Shipment Log that functions as a checklist your users can follow for each shipment. The steps in the checklist can be customized to fit your company’s specific export procedure. This way you can document that each step is being developed, and you can monitor who did what for each shipment.

Sky ERP Export Plus’ built-in Export Compliance Module enables you to run compliance screenings to make sure you are not doing transaction with a person or company on any of the government’s restricted party lists, to make sure you know which documents you need to provide for each shipment, and to make sure you are informed if a deemed export license is needed. Furthermore, the outcomes of any of the screenings you run in the Export Compliance Module can be issued and are stored in an audit trail.