Digitalization of Accounting for Snternational Payments as Componentsof Logistics Supply Chains Based on Smart Contracts
DOI:
https://doi.org/10.35774/Keywords:
accounting, logistics, international payments, monetary transactions, logistics supply chains, digitalization, smart contractsAbstract
The digitalization of international trade, the rapid advancement of financial technologies, and the integration of information systems across supply chain participants require a fundamental transformation of accounting methodology for international monetary settlement transactions in line with contemporary digital business process models. The purpose is developing a transformed methodology for the digitalized accounting of international monetary settlement transactions within global logistics supply chains through the implementation of logistics smart contracts. The study systematizes the distinctive characteristics of international monetary settlement transactions within logistics supply chains and identifies their impact on supply chain continuity and the transformation of accounting methodology under the digitalization of international business activities. The research substantiates the application of blockchain technology as the information infrastructure for the digitalization of international monetary settlements across logistics supply chains. A smart contract–based accounting model for international payments is proposed, enabling the automated execution of contractual obligations, synchronization of logistics events with financial transactions, and real-time generation of accounting records. An information interaction algorithm for participants in the international logistics system is developed, covering smart contract formation, cargo transportation, customs clearance, automated payment execution, and the transfer of ownership rights. Methodological approaches to the automated recognition of international monetary settlement transactions, including the accounting treatment of funds in transit, accounts payable, and customs duties, are defined according to the sequential stages of the logistics process. The study also substantiates the potential application of central bank digital currencies (CBDCs) to accelerate cross-border payments and mitigate foreign exchange risk. Furthermore, the integration of accounting, banking, logistics, and customs information systems through application programming interfaces (APIs), open-source technologies, and the ISO 20022 international standard receives methodological justification as a means of standardizing information exchange and establishing the foundation for continuous digital accounting of international settlements within logistics supply chains.
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