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What is
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a Deferment Account
A Deferment account is an account that a customer uses to record the duties for goods which need to be paid.
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You do not have to be holding stock in the warehouse to record a deferment account. You can have a deferment account which can be used for “duty deferring” this is when the stock holding customer is charging an alternative customer for the duty. |
Accessing the Deferment Account Option
There are three options
When adding a new customer the CREATE button appears on the BOND tab
The Create Menu from the menu options allows you to create a new deferment manually.
If the deferment already exists then use the navigation menu on the right side and search for the deferment you want to look at or edit.
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Delete button - You will not be asked to confirm the deletion of the currently selected customer. |
Adding a Deferment Account for Charging
If you wish to charge to a customer who is not holding stock in the warehouse this is known as “duty deferring” where you are charging the duty element of a duty paid order to an alternative customer.
You would setup a deferment account using this option but you should ensure that you have a copy of the C1207N or C1207S prior to using the “ADD CUSTOMER” button
Setup the customer details on the deferment account, this is NOT a cash deferment
EORI, VAT Number and Email address are important and need to be filled.
Give it an easy to remember name such as TESCO, BOOKER (deferment name)
Deferment number needs to be the HMRC issued deferment account.
Save the account
PRESS the ADD CUSTOMER button
Do not select the customer as a stock owner.
Based on whether you have a C1207S or C1207N enter whether the ability is unending or whether specific dates.
Enter the stock holding customer account which is allowed to use the deferment
Save the record.
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You can now enter an order and on the order options page remove the default deferment account, press F11 and you will see this new account as an available account which the stock holding customer is able to charge to. |
Field Use Information
Most fields in this section are self explanatory however please note the following fields
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What to do if a customer runs out of credit on HMRC and wants to use a cash deferment?
Setup a Cash Deferment for that Customer marking the Stock holding accounts which will use it.
On the customer record, change the customer default account to the cash account WHEN YOU NEED TO CHANGE TO CASH DEFERMENT.
Return it back to the HMRC number whenever you finish using it.
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