Question: Under the ACS Reconciliation Prototype does an importer have the option of simply not reporting any addition to the price paid or payable and/or related assist, even if they are known or does the importer have an obligation to at least make an attempt to report/allocate such charges based upon what is known at […]
Question: Does anyone know of an upcoming seminar on reconciliation? We have a diverse group of companies and many people want a better understanding of the program pros, cons, and requirements.
Would you share with me how you in real life implemented in your organization what you consider to be reasonable care in the reconciliation process of price actually paid or payable to value declared on each entry? Is each entry reconciled against payment records? Do you pull 100% of all accounting records per vendor and […]
Last year we started flagging for value reconciliation. We are in the beginning stages of preparing our reconciliation entry for FY2007. I would like to have the most efficient process in place for managing reconciliation. Can anyone comment on the advantages/disadvantages for filing entry-by-entry vs. aggregate reconciliations? Is one much easier to manage? We would […]
Does anyone know about the reconciliation process? Do we need to submit an application to Customs to participate? Where can I find this application? Is there a special format that is required to submit the data to Customs once you are in the program? Any other advise regarding this issue would be appreciated. One of […]
Does anyone have an opinion on the consequence to u.s. import compliance for the following scenario regarding origin “post allocation”? A “master” purchase order is issued to vendor A in China for 1000 units. Can be either one sku or various sku’s. Vendor A sends the 1000 units to our providers CFS in Shanghai. A […]
What happens when a company closes its doors when they are on value and NAFTA reconciliation and reconciliation entries still need to be filed? If there is nobody to do the work to perform the reconciliation, is there a way to close out all open files as no change and then have a letter written […]
