BOOKKEEPING VICTORIA
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Setting up an Import Business:

Setting up your own import business will not only save you money but increase profitability and direct access to international market and trade. We will set up your complete import business and bookkeeping as per International accounting standards.

Setting up your own import business will not only saves you money but increase profitability and give you direct access to international markets and trading. Your own import business will provide you opportunity to directly deal with manufacturers worldwide that will tremendously reduce your buying costs from local purchasing (as there will be no middleman, wholesaler and retailer). Instead of buying the products locally at a premium, you could be the wholesaler and/or retailer of the same products. The smart business practice is to find ways of cutting down on costs. The import business can provide you numerous opportunities to expand your business locally and internationally. We will set up a complete import business with a bookkeeping system that is designed to meet International Standards.
We have many years experience and knowledge of importing principals. We understand the risks associated with importing and take timely precautionary measures to avoid / minimize them. The types of risks are:
  1. Interest rate risks/currency fluctuation risk (may use forward booking options).
  2. Shipment risks.
  3. Political and economical risks.
  4. Late arrival of good risks.
  5. Natural Risks.
  6. Quantity and quality risks.
  7. Insurance risks
  8. Quarantine risks.
  9. Custom duty and violation risks (Illegal goods and tariffs).
Import businesses must have full awareness of allowable commodities, custom rules, duty / tariff and quarantine requirements. Correct costing is a key to success, and before finalizing costing you must have a valid quote in writing for the clearance of goods in Australia. When preparing a contract or opening a Letter of Credit with suppliers/beneficiaries, you must consider all the options and may add additional terms and conditions that may include: price, FOB, C&F or C&IF, quality, quantity, packing material, labeling, monogram, ingredients, health and safety instructions, expiry (packing list as per quarantine), seal and photographs, transshipment allowed or not allowed, vessel, arrival date etc. You need to also consider supplier's/beneficiary ratings and credit checks.
International Banking:
International banking is totally different to domestic banking. We have several years' international banking experience and understand importing principles which include: Letter of Credit, Trade Finance, Banking charges and fees. The letter of credit example are: sight L/C or term L/C (30, 60, 90 days), confirmed or unconfirmed, irrevocable or revocable L/Cs. The ideal situation is for you to get trade finance so that you can bring in the goods, sell and settle trade finance without using your own capital or very minimal investment. We will set up your complete import business and bookkeeping as per international standards.

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CALL NOW 0421 110 601 or E-Mail: info@bookkeepingvictoria.com.au FOR A FREE NO OBLIGATION FIRST CONSULTATION
TO ASSESS YOUR BUSINESS REQUIREMENTS