What is Freight Auditing?

Audit Bill of Lading

In this age of rapid globalization and when ties between several countries, continents are solidifying, it is necessary to understand the importance of the shipping industry. More than before, shipping has made an entry into the lives of common people as much as it has influenced the tycoons, the business giants.

Freight import and export can be understood as one of the major constituents of what we term logistics. Now, when it comes to freight handling and the cost, it is necessary to ensure that these figures or bills are always audited. This is how a shipping or logistics company can ensure that money is not being wasted in the wrong place. Most companies believe in outsourcing this job with the help of auditing services such as ours.

Our software products provide logistics firms with the accounting services they require to ensure that freight bills are examined, adjusted and verified to effectively manage overhead costs.

How do we do this?

The efficient back office and auditing software that we produce at Info-X helps freight vendors and third party freight transporters ensure that their freight transactions are always audited from start to end.

Our account auditing process includes:

Auditing Process

Step 1:

You send Info-X Line BL received by them from the initial carrier

Step 2:

Info-X Quality Control Department cross checks the data in Line BL with the data in House B/L, which has already been accessed by us.

Step 3:

Line BL is then audited to ensure accuracy of data with focus on the following elements:

  • Port of Loading
  • Port of Discharge
  • Vessel Name and Voyage No.
  • Type of Move
  • Size of Containers
  • Container Number
  • Description (Weight/measurement/ Piece count / Commodity)
  • Booking No.
  • Rate Auditing
  • Consignee (Whether agent or actual Consignee)

Case 1: If on the House B/L, agent is showing as CLIENT as Agent instead of carrier agent, on the Line B/L CLIENT agent is shown as consignee.

Case 2: If delivery agent is the agent of carrier then consignee is shown as actual consignee on Line B/L, and delivery agent is shown as such in the corresponding section.

Case 3: If on the House B/L consignee is mentioned as “To Order” and delivery agent is carrier agent then “Notify party” of House B/L is shown as “Consignee” on Line B/L.

In case the data in Line B/L does not match the data in House B/L, the discrepancies are advised to CLIENT to enable them to inform the Underlying carrier and get the requisite corrections made.

Why choose Info-X?

For over a decade and a half, Info-X has consistently endeavored to make their mark in the niche domain of auditing services for shipping and logistics companies. We understand the logistics business like no other and this has been the reason why so many business giants trust us when it comes to freight or shipping audit.

We can be your quality driven, experienced and technologically wise outsourcing partner.

Want to know more? Get in touch with us today!