Key points
- Golden Customs Phase II covers many areas of customs work. The part companies deal with most is processing-trade and bonded supervision: processing-trade handbooks, electronic ledgers, bonded verification lists, gate passes and so on.
- Movements of processing-trade and bonded goods – entry and exit, transfers, sales into the domestic market – require a bonded verification list to be filed first, from which the customs declaration is generated or to which it is linked.
- A company’s materials, finished goods and unit consumption data form a reference ledger at customs. This is continuously compared with the company’s actual imports, exports and inventory, and is finally closed through verification and write-off.
In practice
For processing-trade companies, Golden Customs Phase II means the books have to balance: registered materials and finished goods, declared unit consumption and every verification list for every shipment must reconcile with the customs reference ledger at verification. Common risks include material shortages or surpluses caused by inaccurate unit consumption declarations, mismatched data at the two ends of a deep-processing transfer, and leftover materials and scrap not being dealt with in time.
For bonded logistics companies and those operating inside special customs supervision areas, goods entering or leaving an area pass through verification lists, gate passes and checkpoint clearance, and movements between areas and the domestic market must be recorded transaction by transaction.
Because the volumes are large and the relationships complex, companies usually maintain in their own systems the handbooks, ledgers, balance sheets and unit consumption records that mirror the customs reference ledger, so that discrepancies are caught before filing.
How Tranexio supports it
Tranexio provides modules for processing-trade handbooks and ledgers, registration of materials and finished goods, unit consumption and balance sheets, deep-processing transfers, outsourced processing, and verification and write-off. It also provides bonded modules for bonded ledgers, verification lists and gate passes. Data exchange with Golden Customs Phase II uses standard connectors via the integration hub. See Processing trade and Customs and the Single Window.