How to Record Shipping Guarantee Fees
Records the fees paid to a bank for issuing a guarantee to a shipping line when the original Bill of Lading is delayed.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Bank Charges - Trade Finance | Expense | 200.00 | - |
| Cash | Asset | - | 200.00 |
💡 Accountant's Note
Banks charge a fee for providing a guarantee that allows the importer to claim goods from the carrier without the original documents.
Practitioner & Systems Framework
💻 ERP Architecture
Post to bank service charge expense categories in the General Ledger.
⚠️ Audit Flags
Unusual volume of shipping guarantees suggesting document handling inefficiencies.
📄 Required Documentation
Bank Debit Advice and Copy of Shipping Guarantee.
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Discussion & Community Questions
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