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Import Purchase add-on

Set up customs accounts and components before entering an import.

When to use it

Use the Import Purchase add-on for foreign supplier bills, Nepal customs declarations and costs added to imported goods. Ask BookPana to activate the add-on for your company before switching it on.

Switch it on

  1. Open Settings → General. Under Features, tick Enable Import Purchase.
  2. Choose Save. Reload Books if prompted.
  3. Open Settings → Import Purchase. Choose Customs VAT Account for recoverable customs VAT and Customs Paid From for the bank, cash or customs liability account normally used.
  4. Check the customs components against the declarations you receive. Keep ID for import duty. ECS means excise duty; HHT means health hazard tax. CVF is the cargo vehicle fee, CSF the customs service fee and FVAT the VAT on that fee. AIT is advance income tax.
  5. For each component, choose its Treatment: Item Cost adds it to the goods, expense or fixed asset; Expense posts it to an expense account; Claimable posts it to a tax or asset account. Choose an Account for the last two treatments. Enable Show on entry only for the components you use.
  6. Save the settings. Under General → Accounts, also check Exchange Gain/Loss Account and Bank Charges Account before paying an overseas supplier.

Number series

Pragyapan Patras use PP-, Import Cost Entries use ICE-, and Advance Adjustments use ADJ-. Check the company’s defaults before entering documents. The fictional examples here are PP-00001 and ICE-00003; your numbers can differ.

What gets booked

Enabling the add-on posts nothing. A submitted declaration or cost entry makes the accounting entries described in the following guides. A declaration keeps a snapshot of its components and their treatment.

Common mistakes

Do not treat recoverable VAT as an item cost. Check excise treatment with your accountant: a manufacturer’s claimable excise may need different settings. Changing settings does not rewrite submitted declarations. Keep the add-on active while entering import documents.

In BookPana

Example screens use fictional demo data. Your records and available actions depend on your company and access.

BookPana Import Purchase settings with fictional import records for Sagarmatha Traders, desktop layout
Import Purchase settings for Sagarmatha Traders
See the phone layout: Import Purchase settings
BookPana Import Purchase settings with fictional import records for Sagarmatha Traders, phone layout
Import Purchase settings for Sagarmatha Traders