The company has export business generating export agency fees and is unsure how to make vouchers. It hopes to understand the specific steps and precautions. The best answer points out that export agency fees are generally recorded under "Selling Expenses," and provides an example of Zhongmaoda Company paying 10,000 yuan in agency fees with a journal entry. It also emphasizes key points such as ensuring original vouchers are complete, the summary is accurate, and the accounts used are correct when making vouchers.
To which accounting account should import agency fees be recorded?
Resolved
Our company recently imported a batch of goods, incurring import agency fees. We haven't dealt with this type of expense before and are unsure where to record the import agency fees. Should they be recorded as part of the procurement cost, or as a separate expense for accounting purposes? If recorded as procurement cost, how exactly should it be done? If treated as an expense, to which expense category should it be assigned? We hope friends familiar with financial treatment can help answer this. Thank you.
Trade Expert Insights Answers
There are generally two ways to record import agency fees. If the import agency fees are directly related to the purchased goods and can be clearly attributed to a specific batch of goods, they are usually included in the procurement cost. This is because they are necessary additional expenses incurred to acquire that batch of goods. In specific operations, the import agency fees are added to the recorded value of the purchased goods. For example, if the value of purchased goods is 1 million yuan and import agency fees are 50,000 yuan, then the recorded cost of this batch of goods is 1.05 million yuan.
If import agency fees cannot be clearly attributed to a specific batch of goods, or if the amount is small and has little impact on costs, they can also be recorded as selling expenses or administrative expenses. If the agency fees are incurred for selling imported goods, they are recorded as selling expenses; if they are related to daily operations and management, they are recorded as administrative expenses. When recording, choose reasonably according to the actual situation to ensure the accuracy and compliance of financial data.
Generally, for large import agency fees that can be allocated to goods, including them in procurement costs is more appropriate for more accurate cost accounting.
If the import agency fee is small and has a negligible impact on overall costs, recording it directly under administrative expenses is more convenient.
If these agency fees are for services related to the sale of imported goods, recording them as selling expenses aligns with the logic of expense attribution.
I think it depends on the company's financial practices and accounting requirements. If you want precise cost accounting, record it as procurement cost.
From a convenience perspective, if it doesn't significantly affect the overall direction of cost accounting, recording small agency fees under administrative expenses saves trouble.
If the agency fees are closely related to the sales process, recording them as selling expenses is correct.
You can first check how similar situations are handled in the same industry, and then combine it with your company's own circumstances to decide where to record them.
If agency fees are closely related to goods procurement, recording them as procurement costs better reflects the true cost situation.