Is it all set once you’ve completed the customs declaration and foreign exchange payment?Not quite.Ninety percent of the work is done,but there’s still more to do.The company is acting as an agent forIn the financial process,many companies encounter problems at the "last mile" of foreign exchange cancellation,tax invoice matching,or accounting processing.Last week,a client who exports furniture had their tax refund of 300,000 yuan suspended because they failed to fill in the "exported goods by agent" in the remarks column of the tax invoice.

The three underlying contradictions in the financial process of import and export agency: the interplay between regulations,processes,and risks

In 2026,the new regulations of the State Administration of Foreign Exchange require that "who exports,who bears the responsibility".However,under the agency model,the ownership of the goods is separated from the entity receiving the payment; the State Taxation Administration has put forward clear requirements for the format of the remarks on the agency export tax receipts; and there is a conflict between the accrual basis of revenue recognition and the cash basis in accounting processing.These contradictions have led to 90% of enterprises encountering problems in practical operation.

Import & Export Finance SOP | Documentation to Tax Rebate | 6 Key Steps

Step 1: Sign an agency agreement and clarify the financial rights and responsibilities

Output:

The agreement must stipulate the following:

• Collectionaccount(principal/agent)
• Requirementsforissuingtaxinvoices(formatoftheremarkscolumn)
• Theincomerecognitionnodeinaccountingprocessing(thedateofcustomsdeclarationforexport/thedateofreceiptofpayment)

Step 2: Match the documents for customs declaration and receipt of foreign exchange payments

Output:

Within 3 working days after customs declaration,the customs declaration form will be provided.copy),provide B/L copy to finance,mark expected collection date.When collecting,bank slip must remark “Agency Export Collection - Principal Name”.

Step 3: Issuing tax invoices and checking the remarks

Output:

When the agent or the client issues a VAT special invoice,the remarks column must include the following information: “Agency Export Goods” + Principal Tax ID +Single number(e.g.: Agency Export Goods Principal: 91XXX Declaration: 22XXXXXX).

Step 4: Foreign exchange write-off and balance adjustment

Output:

Within 15 days after receiving the foreign exchange,log in to the "National Foreign Exchange Administration Application Service Platform",submit the customs declaration form,the receipt of foreign exchange form,and the scanned copy of the agency agreement,and complete the difference report (if the difference between the amount of foreign exchange received and the amount declared is ≤5%,it can be directly offset).

Step 5: Accounting treatment for tax refund declaration

Output:

Confirm the revenue based on the date of customs declaration for export (debit "Accounts Receivable - Foreign Exchange",credit "Operating Revenue - Agency Export Revenue"); when receiving the payment,deduct the accounts receivable; after the tax refund is received,credit "Other Accounts Receivable - Export Tax Refund".

Step 6: Quarterly Compliance Verification

Output:

At the end of each quarter,check and verify the following items:

• Declaredamountvsactualpaymentamount(thedifferenceshallbelessthan5%)
• Taxticketnotesvscustomsdeclarationinformation(perfectmatch)
• Thedateofrevenuerecognitioninaccountingvsthedateofcustomsdeclarationforexport(withanerrorof≤1month)

Expert Insight: Two New Trends and Avoidance Tips in Financial Agency Services in the 2026 Era

Trend 1: Digitalization of foreign exchange management.Starting from the third quarter of 2026,the "Pilot Project for Facilitating Foreign Exchange Payments and Receipts" will be rolled out nationwide.Qualified enterprises will be exempt from the requirement to report exchange rate differences,but they must ensure that "documentation is archived electronically" (customs declarations,water bills,and agreements in PDF+OCR-recognized format).Trend 2: Tax inspections will focus on the "Remarks column".In 2026,the State Taxation Administration will randomly check 10% of export tax invoices submitted by agents.Enterprises with irregular remarks in this column will have their tax refunds suspended until they complete the necessary rectifications.

Today’s action list: Three immediately executable financial verification actions

• Checktheexporttaxinvoicesofthepastthreemonthsandfilteroutthedocumentswithno"Agentexportedgoods"intheremarkscolumn.Thesedocumentsshouldbereissuedorred-crossedandreissuedwithinthisweek.
• Logintotheforeignexchangemanagementplatform,exportthereceiptofforeignexchangerecordsforthepastsixmonths,matchtheamountonthecustomsdeclaration,andmarkorderswithadifferenceofmorethan5%.Submitanexplanationofthedifferencewithinthreedays.
• Setupareminderfor"AgentExportRevenueConfirmation"intheERPsystem,withthetriggeringconditionbeingacustomsdeclarationstatusof"CustomsClearanceCompleted",andautomaticallygeneraterevenuevouchers.