Duty management and closing stock balance systems: updating the duty management system
The duty management system can be updated:
- on a transaction by transaction basis
- by adjustment using the closing balance system (after receipts have been added and deliveries subtracted from the previous day’s balance), or
- by applying separate files (suggested order of application - receipts, removals, adjustments).
It is only when this update has been completed that it can be confirmed whether the removal was from duty suspended stock or duty paid stock depending on what is being held for that particular product.