The letter of credit is a financial term when you want to buy from a vendor but paying for a bank according to an account you open in the bank to cover this order from this particular vendor. This Letter of Credit account may cover one order for one particular vendor or multiple orders for the same vendor.
The Invoice will still come from your vendor but the vendor will not ask you to pay for him, you will be paying for the bank.
1.Do the setup
2.Fill the letter of details.
3.Releae it from Function Button.
4.U can Attach Terms & Condition in LC.LC details--->Terms & Condition.
5.Create a purchse Order and attach the LC no on it.
6.Now on the LC Details the value utilised has been updated in the invoicing tab
7.U can pass the LC charges.from LC Journal.
8.See the Amendments from LC details.
9.Release the LC amendments and u will find the change in the LC Value & LC Value LCY fields.
10.Close the LC by Close Lc batch Job.
I think u find ur work around of ur LC.
If any query plz revert back.
Have a nice time
Regards,
Vivek Srivastava
"Future Belongs to those who beleive in the beauty of their dreams"
where can I find these things in Navsioin 4.0? there is nothing in Navision about LC straightforward i.e. as a term there is nothing in Navision called Letter of credit.
There's no "Letter of Credit" functionality in Navision.
The L/C is really something outside of Navision. In another words, there are no transactions you need to enter in Navision in order to do business with the vendor.
When you receive the invoice from the vendor, just enter the payment transaction in the payment journal.
You can store a copy of the L/C in the Interaction Log in the Relationship Management if you want a contact history with the vendor. Other than that, creating a new functionality just for L/C is, in my opinion, not the best use of money and time.
You have given the work around for LC Functionality.
Can you through some light on LC Journal lioke for what purpose it is used and what impact it makes on the LC Values and bank account balances. :?:
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Independent Consultant/Developer
blog: https://dynamicsuser.net/nav/b/ara3n
The Invoice will still come from your vendor but the vendor will not ask you to pay for him, you will be paying for the bank.
Thank you for your cooperation.
Vivek Srivastava
"Future Belongs to those who beleive in the beauty of their dreams"
Thank you for your reply
1.Do the setup
2.Fill the letter of details.
3.Releae it from Function Button.
4.U can Attach Terms & Condition in LC.LC details--->Terms & Condition.
5.Create a purchse Order and attach the LC no on it.
6.Now on the LC Details the value utilised has been updated in the invoicing tab
7.U can pass the LC charges.from LC Journal.
8.See the Amendments from LC details.
9.Release the LC amendments and u will find the change in the LC Value & LC Value LCY fields.
10.Close the LC by Close Lc batch Job.
I think u find ur work around of ur LC.
If any query plz revert back.
Have a nice time
Vivek Srivastava
"Future Belongs to those who beleive in the beauty of their dreams"
Thank you for your cooperation
The L/C is really something outside of Navision. In another words, there are no transactions you need to enter in Navision in order to do business with the vendor.
When you receive the invoice from the vendor, just enter the payment transaction in the payment journal.
You can store a copy of the L/C in the Interaction Log in the Relationship Management if you want a contact history with the vendor. Other than that, creating a new functionality just for L/C is, in my opinion, not the best use of money and time.
AP Commerce, Inc. = where I work
Getting Started with Dynamics NAV 2013 Application Development = my book
Implementing Microsoft Dynamics NAV - 3rd Edition = my 2nd book
Letter of Credit is available in the IN version i.e Indianised version of Navision.I have checked in the W1 version but is is not there .
Vivek Srivastava
"Future Belongs to those who beleive in the beauty of their dreams"
You have given the work around for LC Functionality.
Can you through some light on LC Journal lioke for what purpose it is used and what impact it makes on the LC Values and bank account balances. :?:
Thanks in Advance