Quickly match customs data to accounts and identify incorrect information
With the Emma Compliance
What is the Emma Compliance’s Invoice Matching features?
The Invoice Match is a powerful feature is built in to Emma Compliance, developed to create aconnection between customs declarations and accounted records. Using Invoice Match, you can easily match and verify declared customs value up against accounted value.
Why is this important?
Errors in customs declarations and declared values can cause serious repercussions long after the import /export has taken place.
Common errors include:
- Declaration missing / purchase not declared
- Divergent core value compared to recorded value
- Use of incorrect currency code
- Use of proforma invoices, as this may differ from thecommercial invoice and result in an incorrectdeclaration
- Missing or deficient export declaration
Common consequences include:
- Incomplete audit trail between the customs declaration, the invoice and payment
- Incorrect customs declarations could result in non-compliance penalties
- Misdeclared or undeclared goods could be deemed as smuggling and result in penalties
- Non-existing export declarations or export declarations with incorrect values may lead to inadequate documentation for the sale (ex.VAT) and accounts receivable
- Tax authorities may reclaim VAT from seller andpotentially issue a fine
Invoice Match key features:
Identify purchases that have not been declared to customs
Link declaration details to accounts using voucher number
Or other data such as value, vendor, billed currency and invoice date
Uncover declarations with divergent core values compared to recorded values
Detect differences between declared and invoiced values and export reports
Contact us to learn more
Get a more detailed introduction to Emma Compliance and Invoice Match based on your own set-up, customs data and processes.
Guide: Getting started with Customs Data Analysis
Are you ready to dig deeper into your customs data? Our guide helps you get started.
Emma Compliance is the evolved version of Emma E-Doc, built on the same professional foundation but adapted to new and upcoming requirements for security, data and compliance.