Import & Export Businesses

Clear Financial Records for Your International Trade Business

Import and export businesses manage purchases, sales and payments across currencies, suppliers and shipping routes. Freight charges, customs costs and settlement differences can make the actual cost of goods difficult to track, particularly when invoices arrive at different stages of a shipment.

OBG Outsourcing provides bookkeeping and accounting support for importers, exporters and trading businesses, with a focus on foreign currency transactions, freight, customs costs and supplier reconciliation. We help connect financial records with purchase orders, shipment documents and supplier statements so management can understand costs, outstanding balances and trading performance.

Foreign Currency Transaction Accounting

International purchases and sales may involve invoices, receipts and payments in different currencies. We record foreign currency transactions and reconcile settlement amounts using your accountant’s approved exchange rate policies.

Supporting schedules distinguish exchange differences from bank charges and transfer fees. Foreign currency bank accounts, receivables and payables are reconciled, with period-end adjustments prepared for review under approved accounting policies.

Freight and Shipping Cost Tracking

Freight expenses can include ocean or air transport, inland haulage, cargo insurance and handling charges. We organize invoices from freight forwarders and logistics providers and link costs to the relevant shipment where supporting records allow.

Charges are compared with available quotations and shipment records to identify differences, duplicate invoices or missing documentation. This gives management a clearer view of logistics spending by shipment, supplier or trade route.

Customs Cost Recording and Reconciliation

Customs-related transactions may include duties, import taxes, clearance charges and broker fees. We reconcile customs broker statements and supporting documents with payments and accounting entries.

Costs are classified according to your accountant’s approved treatment, including the distinction between recoverable amounts and costs included in inventory or expenses. Unclear charges and missing documents are flagged for review by your team or customs adviser.

Supplier Statement Reconciliation

Overseas supplier accounts may contain deposits, partial shipments, credit notes and payments covering multiple invoices. We reconcile supplier statements with purchase records, invoices and bank transfers to establish clear outstanding balances.

Differences involving unapplied payments, missing credits or disputed charges are documented for follow-up. Payment schedules show amounts due and upcoming commitments, while your business retains payment approval and supplier negotiations.

Landed Cost Schedules

The purchase price alone may not reflect the total cost of imported goods. We prepare landed cost schedules that bring together supplier charges and eligible freight, insurance, duty and handling costs under approved accounting policies.

Costs are allocated across products or shipments using agreed methods and available data. These schedules help management review product margins and support consistent inventory costing without combining recoverable taxes with product costs.

Supplier Deposits and Advance Payments

Importers may pay suppliers before production begins or goods are dispatched. We maintain advance payment schedules showing amounts paid, invoices subsequently received and balances still awaiting application.

Deposits are matched with the relevant orders and supplier accounts. Outstanding advances, refunds and credits are flagged for review, helping prevent duplicate payments or expenses when final invoices arrive.

Inventory and Goods in Transit Reconciliation

Goods may be purchased, shipped and received across different reporting periods. We organize shipment and receipt records to support inventory and goods in transit schedules, applying the ownership and cutoff treatment approved by your accountant.

Inventory records are reconciled with the general ledger and available warehouse reports. Differences involving quantities, shipment timing or missing costs are documented for investigation and approved adjustment.

Export Billing and Customer Collections

Export sales can involve customer deposits, staged payments and deductions from final settlements. We reconcile sales invoices with receipts, customer statements and supporting shipping records.

Receivables schedules show outstanding amounts by customer and currency. Bank fees, approved credits and settlement differences are recorded separately, helping your team understand collection status and prioritize follow-up.

Cash Flow and Trading Performance Reporting

Supplier deposits, freight bills and customs payments can fall due well before customers pay. We prepare cash flow schedules that bring together expected collections, supplier commitments and shipment-related expenses.

Monthly reporting can include profit and loss statements, balance sheets, currency balance schedules and product or shipment margin reports. Bank, supplier and customer reconciliations support the monthly close, with unresolved items clearly documented for review.

White-Label Support for Accounting Firms

OBG Outsourcing provides white-label bookkeeping and accounting support to CPA firms and accounting practices serving import and export businesses. We assist with foreign currency reconciliations, freight and customs cost schedules, supplier accounts and monthly reporting within your established workflow.

Your firm retains the client relationship, accounting policy decisions, review authority and final approval.

Keep international transactions, shipment costs and supplier balances organized with accounting support built around your trading business.