Define Prior Zone Status for Exit from a Foreign Trade Zone

This feature enables you to specify allowable prior zone statuses for a declaration. A new grid, Allowed Prior Zone Status, is available on the Declaration Type page, where you can define the prior zone statuses that are valid while entering a foreign trade zone. If a declaration type includes a zone status mapping, GTM validates this during the reconciliation of the exit declaration. An exit declaration line with a specific zone status can be reconciled only with inventory items that have a zone status permitted by the defined prior zone status.

Declaration Type with Allowed Prior Zone Status

Business Benefit: This feature improves compliance and accuracy in foreign trade zone operations by ensuring that only an inventory with permitted prior zone statuses can be reconciled against exit declarations. It helps prevent reconciliation errors, supports adherence to regulatory requirements, and streamlines the process of managing zone status validation, ultimately reducing the risk of non-compliance and enhancing overall operational efficiency.

Steps to Enable and Configure

Navigate to Master Data > Power Data > Declarations > Declaration Types. With a declaration type, add the details to the Allowed Prior Zone Status grid.

Key Resources

For more information on trade incentive programs, refer to the GTM How To/Configuration Topic called "Trade Incentive Programs".