Perform Entry/Exit Recording

This page is accessed via:

• Customs > Declarations > Actions > Trade Incentive Program > Perform Entry/Exit Recording
• Customs > Declaration Lines > Actions > Trade Incentive Program > Perform Entry/Exit Recording
• Transactions > Trade Transactions > Actions > Trade Incentive Program > Perform Entry/Exit Recording
• Transactions > Trade Transaction Lines > Actions > Trade Incentive Program > Perform Entry/Exit Recording

Use this action on a trade transaction, trade transaction line, declaration, or declaration line to sync the items' entry into and exit from related trade incentive programs, and update the inventory accordingly.

Click Perform Entry/Exit Recording. The results are displayed with a successful/failure status and a reason for it.

You can view the balance quantity and the inventory status on the Program Inventories page.

For processed and non-processed goods within Free/Foreign Trade Zones, if a query is provided in the Prior Declaration Line Saved Query field of the Entry Exit Profiles page, running this action adjusts inventory balances for a transaction line/declaration line that has changed zone status. The original line that entered the inventory is identified based on the saved query, and adjustments are made in the required inventory or if required, a new inventory record is created.

(Also see Declaration Types for more information on allowed prior zone statuses.)

When you perform this action on an exit line that moves (import/export) finished goods out of a Free/Foreign Trade Zone, then a separate exit line is created for the matched inventory of the privileged components of the finished goods. The value of the finished goods is updated to exclude the value of the privileged components. This will be beneficial while reporting to the customs.

In case where a finished good is manufactured within a Free/Foreign Trade Zone and then imported into a customs territory, the import declaration contains the finished good line and the lines for all the privileged foreign components that went into the manufacturing of the finished good. Each of the lines contain its own applicable values, duties, and taxes. The privileged foreign component lines are be linked to the finished good line via the reference number of the type "TIP BUNDLE REFERENCE LINE NUMBER", which has the value of the finished good line GID.

When this import declaration is used for recording inventory into Free Circulation based programs (for example, a Duty Drawback program), then only the finished good line is used for recording inventory, and the dependent privileged foreign component lines are ignored because the privileged foreign component lines are useful only for reporting purposes. The values (like, customs value, duties, taxes, etc.) of the dependent privileged foreign component lines are accumulated onto the finished good inventory.