Letter of Credit

Dr_mjh · 2006-05-21

Hi there,

Does anyone know how to make a work around for the letter of credit in Navision 4.0?

Thank you for your cooperation

ara3n · 2006-05-22

What is the letter of credit? if you don't mind me asking?

Dr_mjh · 2006-05-23

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.

Thank you for your cooperation.

vivektaurian · 2006-05-23

Exactly what U want to know about Letter Of Credit

Dr_mjh · 2006-05-23

How can we deal with letter of credit in Navision 4.0? ofcourse as work around.

Thank you for your reply

vivektaurian · 2006-05-23

I am telling the step u have to follow;

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

Dr_mjh · 2006-05-23

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.

Thank you for your cooperation

Alex_Chow · 2006-05-23

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.

vivektaurian · 2006-05-24

Hi ,

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 .

alok_agrawal · 2008-01-23

Hi vivektaurian

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

Letter of Credit

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