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Logistics Trading Services (LTS) is a cloud-based standard solution that supports the entire customs process from importing goods from countries outside the EU, special procedures such as bonded warehouses, and to sales to countries within or outside the EU.
LTS consists of four main modules, Inbound, Warehouse, Settlements og Outbound, and the supporting modules Data Exchange, Reports og Administration.
Each module contains necessary functions that support the entire customs declaration process, thus ensuring that the goods are declared correctly during customs clearance, in relation to the commodity codes used and valuation.
LTS comes with all necessary customs-related system codes pre-installed, as well as adapters/interfaces for data integration with your own ERP system and external systems (Customs Agency), as well as the option to export files to partners.
Each adapter contains a Data Refinement Module that ensures high data quality and minimizes errors.
Data exchange with LTS is handled by a file manager (LDEA) that runs 24/7, minimizing manual entry and shifting focus to control and reporting, which ensures a better overview and fewer errors in the process.
Do you choose to use Active processing/Bonded warehouse, in charge LTS handling the processes surrounding this, and ensures that payment of customs duties either:
There are extensive documentation requirements for companies that use these special procedures.
The bonded warehouse module includes functionality for comparison with physical inventory, accounting and history, so that there is full traceability of all bonded warehouse transactions. This saves time and creates security for you as a company in connection with any inspection visits.
The Turn module makes it possible to make customs declarations in Norway of goods from EU customs warehouses, i.e. to turn – “Turn” – a Danish export into a Norwegian import / customs declaration.
At the same time as a Danish export is created, a Norwegian import is created, which from LTS can be sent directly to Tolletaten li Norge.
This option means that it is no longer necessary for Danish companies to subscribe to such a “service” with a partner, but that this is done automatically in LTS.
LTS will also create the necessary documents for the transport of the goods to Norway.
LTS is a cloud-based standard solution that requires minimal integration into your ERP system, thereby minimizing operational challenges for your IT department.
You can find LTS references here .
Would you like to hear more about LTS, then contact Claus Bruus Olesen of cbo@lector.dk /+45 31 41 49 10, David Klingenberg Sorensen of dks@lector.dk /+45 31 41 49 33 or Martin Knifström Gjessing of mag@lector.dk /+45 29 80 99 94.
