Duty Balancing

Duty and GST account for the major portion of money that is paid by a Customs Broker. The GL has a system to ensure that all the duty and taxes paid on behalf of clients are billed to those clients. The system uses data from the K84, billing, the General Ledger, GST System, consolidated billing and F-Type entries to generate a data base that shows any exceptions. These exceptions are transferred forward each month until they are resolved -- either by a payment, billing the client or through an adjustment to correct errors.

To help balance you balance the various sub-systems -- the amounts paid to the Receiver General, GST system, K84 and so on. Comparing the data to several outside sources ensures that it is accurate.