Understanding & handling the nuances of International Trade

Whether you are importing goods from the Far East or acting as a European Distributor for an overseas manufacturer, and regardless of what happens in future with Brexit, rest assured that axis diplomat takes it in its stride.

Global Stock

Many business users of axis diplomat import stock from around the world, including the Far East, Australia and the USA. The nature of this type of business, with long lead times and multiple outstanding purchase orders in various stages requires a unique set of tools which are fortunately well within the capability of axis diplomat.

 

Accurate stock control

Powerful forecasting options allow you to more accurately control your purchasing, helping to ensure that you do not run out of stock in the warehouse whist stock you have purchased is en route half way around the world.

 

Advanced Shipping Notice

Handling of Advanced Shipping Notices gives your Sales Team accurate stock availability information, ensuring that you only make promises you can keep.

 

Global stock tracking

Support for multiple warehouses includes the ability to track consignment stock or stock held in warehouses in other countries or in bonded warehouses.

Foreign Currency

The Multi Currency module allows customers to be invoiced in a currency other than the base currency, and for the balances on their accounts to be maintained in that currency. These balances are transferred to the Nominal Ledger in the base currency and are adjusted from time to time to reflect the current exchange rate (in accordance with Statement of Standard Accounting Practice, SSAP 20). Suppliers are handled in a similar manner.

Differences between the base currency equivalent of invoices at the time they are entered and the base currency equivalent of the matching payments when they are made or received are automatically posted to an Exchange Variance profit and loss account on the Nominal Ledger.

International VAT

Manage VAT for businesses registered in multiple EC countries.

With the increase in cross-border retail sales (sometimes referred to as Distance Sales), typically driven by successful eCommerce websites, many businesses now find that they must be registered for VAT in a number of European countries.

Businesses selling goods to consumers in individual EC countries where the value of those sales exceed the VAT registration thresholds for those countries must be registered for VAT in those countries.

VAT Groups are used to control the VAT rates applied to individual items because a product may have different VAT status in different countries - for example, books are zero-rated in the UK but may be standard-rated in some other countries and reduced rate in others.

Intrastat

Larger UK businesses with a value of trade in goods with other EC countries above a specified threshold are required to supply supplementary information to Customs & Excise in respect of that trade on a monthly basis.

These details can be automatically recorded by axis diplomat whilst a manual facility allows you to record additional, exceptional, movements that do not involve a VAT transaction.

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