Agenda of the Video▶️: How-To Create and Define Setup for Custom Bonded Warehouse in Business Central (D365BC).
A Bonded Warehouse is a Physical Warehouse (Godown/Location) operated by a private company in a foreign country under the regulatory supervision of that country's customs agency. Its main advantage is to defer the payment of customs duties.
Customs Bonded Warehouse is a facility where imported goods can be stored and further manufacturing as well as associated activities like; packing, re-packing, labeling, etc. can be carried out
A Bonded Warehouse is a Physical Warehouse (Godown/Location) operated by a private company in a foreign country under the regulatory supervision of that country's customs agency. Its main advantage is to defer the payment of customs duties.
Customs Bonded Warehouse is a facility where imported goods can be stored and further manufacturing as well as associated activities like; packing, re-packing, labeling, etc. can be carried out
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LearningTranscript
00:00Hello friends, welcome to my channel, I am freelancer Madhvi and today we are going to
00:07see that how we can activate the feature of Custom Warehouse and Bonded Warehouse from
00:15Locations card.
00:16Custom or Bonded Warehouse is that on which you can keep the goods imported from foreign
00:24countries.
00:25You can keep the goods secure and safe.
00:28Or even if goods are travelling in the sea, you can use this location and bonded field
00:43activation to purify it for your purpose.
00:49For example, this location card has general tab, address and contact.
00:57After this, you will get warehouse and after this, bins, bin policies, tax information.
01:08In tax information, there is an option Bonded Warehouse.
01:13Specifies if location is defined as a bonded warehouse.
01:18And to activate it, you have to enable this button.
01:24As soon as it is enabled, you can use this location as a bonded.
01:28But I suggest that you try to make a new location and give the name to that location.
01:36As you give me a name, I have given New Delhi and its code and name is Delhi Location.
01:43You can give its name Bonded Warehouse or Custom Warehouse and you can use it.
01:49So the locations you make can be, so this is a way that you have to create a new card
02:01and give a name to it.
02:03If you can understand it by Bonded, then it is fine.
02:06Otherwise, you give Custom Warehouse.
02:08I suggest that you give an easy name.
02:10If you want to keep the code like that, then you can keep the code.
02:14For example, Customs Warehouse.
02:20So what will happen to you, it will be easy to understand.
02:23You can use whatever address you have.
02:25It should be bonded because we will use it in transit as a location where our goods will be kept.
02:35So as a warehouse, as long as you don't get it cleared,
02:42as long as you don't decide how to move the goods,
02:46you have to receive it, you have to send it,
02:48you can keep it in a secure place.
02:51And it will be located around your C area,
02:56from where you are going to dispatch or receive.
02:58So in the same way, this is the option of Bonded Warehouse.
03:02When you are making a new card, you have to activate it.
03:05And as I showed you on an existing card,
03:08don't activate it on an existing card,
03:11make a new card and activate it on a new card.
03:15Whatever other things you want to put,
03:17if you have a warehouse setup, or you are using bins,
03:21you are using bin policies, then you can put other things.
03:24For example, you have to put a state code in its tax information,
03:30that in which state is the C area.
03:33So you can put all these things.
03:35Whatever other information you want to put,
03:37if there is a GST registration number of that particular place,
03:42then you will have to put a GST registration number.
03:44Let's assume that it is in Maharashtra.
03:47So according to the GST registration code of Maharashtra,
03:51you have to put a GST registration number for this particular warehouse,
03:55which the GST authorities must have given you.
04:00If you have registered GST,
04:03then you have to put that registration number here.
04:06And then when you transfer goods to the Bonded Warehouse on your entries,
04:13either you use a transfer order,
04:15or if you use any other screen to move the goods,
04:19from one location to another,
04:21for example, you send it from the dispatch location of the company to the Custom Warehouse,
04:25or when the goods are imported,
04:28then you receive it at the Custom Warehouse.
04:31So when you use this movement from any page,
04:35for movement, at the time of receiving or dispatch,
04:40then you can use the Custom Warehouse.
04:42And then from the Custom Warehouse,
04:44you can move the goods to that particular location,
04:47where you want to go.
04:50So you can use it.
04:52And related to this, the GST transactions,
04:55such as import transactions of the purchase site,
04:57you can do.
04:58And there is another setup related to this,
05:00in the General Leisure Setup.
05:03If you go to the General Leisure Setup,
05:05then you will get here in the General Leisure Setup,
05:07tax information is also here.
05:10If you look carefully,
05:12then you will get a Custom Duty component here.
05:16So this is a basic setup I am telling you.
05:19When you want to do a basic setup related to Custom Duty,
05:22then you will have to do all these things.
05:25Because here you will have to tell
05:27in which GL it will be posted.
05:29Whenever you make transactions related to Custom,
05:34then the value of Custom Duty will be posted in which GL.
05:38So you will have to give the directions of that GL here.
05:41You will have to tell where it will be posted.
05:44So what do you have to do with all these things?
05:46You have to activate all these things here.
05:49You have to assign here.
05:51And in this way, you can get an import duty,
05:55a purchase invoice calculation of Custom Duty.
06:01Now next you have to do this,
06:03in the GST posting setup,
06:05you have to define this Custom Code.
06:07So find the GST posting setup.
06:09And now the state we took,
06:13we have to take the code there, MH.
06:16After that, the component we took of Custom,
06:20Custom Duty.
06:21Take this.
06:23And after that you have to scroll, scroll, scroll.
06:28IGST PAYBILL.
06:31Now if you have any GL related to Custom here,
06:35then you can take this.
06:37It is made inside the Balance Sheet.
06:39Custom House inside the Balance Sheet.
06:42Everyone has different names.
06:44Someone writes IGST Payable Account Import,
06:47as it is written here.
06:48Specifies State-Wise IGST Payable Account Import
06:53for each component.
06:55So for the purchase side import,
06:57this GL will be made.
06:59And it will be in the Balance Sheet.
07:01And you can make it like this and assign it like this.
07:05So you can see where it is made in the sample company.
07:08It is made in the GL account list.
07:11So you can open Kronos once and check
07:15in which group you will get it,
07:17in which category you will get it.
07:20Assign GL like this.
07:22And when you get it calculated and posted,
07:25the value of Custom Duty will be posted in this GL.
07:29So for the value of Custom Duty,
07:31you can assign a new GL.