Export letter of credit

This article describes exporting a letter of credit. For more information, see Set up bank facilities and posting profiles for letter of credit to configure and create bank facilities and posting profiles.

Create sales order for export letter of credit

1. Go to Accounts receivable > Orders > All sales orders.
2. Click New.
3. In the Customer account field, select a desired record.
4. Expand the General section and fill Site and Warehouse fields.

• Select the Site and Warehouse where the item to be issued is stocked.

5. In the Bank document type field, select Letter of credit.
6. Expand the Delivery section and select Delivery date control = None.
7. Enter Requested receipt date and click OK.
8. On the Sales order lines, select an Item number which will be issued or sold.
9. Enter a Unit price, if it doesn't default from the price trade agreement.
10. Expand Line details section and select the Delivery tab.
11. Enter Requested ship date and Confirmed ship date.
12. On the Action pane, click Manage
13. Click Letter of credit.
14. Enter Bank document number and the Expiration date.
15. Expand Bank details section.
16. In the Issuing bank field, select the customer bank account.
17. Select the Advising bank.
18. On the Lines, click Fetch sales order shipments.
19. Click Issue bank document.

Post Packing slip

1. On the Sales order page, click Pick and pack.
2. Click Post packing slip.
3. Expand the Parameters section and in the Quantity field, select All.
4. Enter a Packing slip date field.
5. Select the Shipment number and click OK.

Post sales invoice

1. On the Action Pane, click Invoice.
2. Click Invoice.
3. Select the corresponding Shipment number.
4. In the Setup section, fill in the Invoice date and click OK.

Shipment document submitted status

1. On the Sales order, click Manage.
2. Click Letter of credit.
3. Expand the Lines section.

Note

The Document submitted field should be set to Yes.

Verify Export letter of credit

1. Go to Cash and bank management > Letters of credit > Export letter of credit and import collection.
2. Verify that the Export letter of credit has a Shipment status of Invoiced on the Lines section.

Customer payment

1. Go to Accounts receivable > Payments > Payment journal.
2. Click New.
3. In the Name field, select customer payment journal name and click Lines.
4. Enter a Date.
5. In the Account field, select customer account number. Click Save.
6. Click Settle transactions and select an invoice to pay. Check Bank document number and Shipment number.
7. Select the Mark checkbox next to the invoice to pay. Click OK.
8. Click the Payment tab on the customer journal and verify the Bank document number and Shipment number details are filled.
9. Click Post.

Verify Export letter of credit after payment

1. Go to Cash and bank management > Letters of credit > Export letter of credit and import collection.
2. Verify that the Shipment status = Payment received and Balance amount = 0.00.