How do you integrate a bill of lading and a commercial invoice with your ERP or accounting system?

1 What are BOL and CI?

A bill of lading is a contract between the shipper and the carrier that specifies the details of the shipment, such as the quantity, description, destination, and terms of delivery. It also serves as a receipt and a proof of ownership of the goods. A commercial invoice is a document that shows the value and origin of the goods, as well as the seller and buyer information. It is used for customs clearance and taxation purposes.

2 Why integrate BOL and CI with your ERP or accounting system?

Integrating your BOL and CI with your ERP or accounting system can bring a range of advantages, from saving time and money through automation to improving visibility and traceability. It can also help enhance compliance and security, as well as optimize inventory and cash flow. By syncing shipment and payment information, you can reduce errors and discrepancies while ensuring data consistency and accuracy across the systems.

3 How to integrate BOL and CI with your ERP or accounting system?

Integrating your BOL and CI with your ERP or accounting system may vary depending on the software and platforms used, but there are some general guidelines you should follow. Firstly, choose a reliable and compatible solution that can connect your ERP or accounting system with your shipping partners and customs authorities. Secondly, configure your settings and preferences to match your business needs and requirements. Thirdly, map your data fields and formats to ensure a smooth and accurate data exchange. Fourthly, test your integration and verify the results before going live. Lastly, monitor and update your integration regularly to avoid issues and errors.

4 What are some common challenges and solutions?

Integrating your BOL and CI with your ERP or accounting system can pose some challenges, such as dealing with different languages, currencies, units, and regulations across countries, as well as complex and dynamic tariffs, taxes, duties, and fees. Additionally, managing multiple carriers, modes, and routes of transportation and resolving disputes and claims arising from lost, damaged, or delayed shipments can be difficult. To overcome these issues, it is recommended to use a standardized and universal system of codes and symbols like the Harmonized System (HS) or the Incoterms. It is also important to utilize a reliable and updated source of information like the World Customs Organization (WCO) or the International Chamber of Commerce (ICC). Lastly, using a flexible and scalable solution that can adapt to changing conditions and demands while being transparent and collaborative to facilitate communication among the parties involved is essential.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?