How to config letter of credit for an import

hi gurus,
can somebody explain me how letter of credit is configured for an import. it would be highly appreciated if i get a step by step procedure.
best regards
sayeed

Hi,
Refer to this weblink
http://www.sap-img.com/financial/process-of-letter-of-credit-for-imports.htm
or
refer to this sdn thread
letter of credit
Please let me know if you need more information.
Regards
Sridhar M

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Letter of Credit for Imports

Hi All,
How to map letter of credit for import purchase orders in MM module. The foreign Trade part of SD module only talks of export.
Prashant Tawde

Hi Phani
Thank for your help
Please tell me step by step from creating a letter of credit to paying
I have a business below:
1. The Clearing agent ask for amount, the person who receive the product will give Letter of Authority to Clearing Agent. The clearing agent move to bank and take check.
For this purpose, we just issue LA.
2. Prepare Purchase for the Vendor from whom we are going to receive the product. There may be 2 or more Vendors.
1. Product cost to be transferred to Vendor A
2. Freight or Other Charges to Vendor B
3. Customs Duty and Others to Vendor C
3. First We have to pay Customs Duty to Commissioner of Customs after LA issued.
Entry : Customs Clearing a/c   Dr
           Cess on Custom a/c    Dr
           CVD Clearing a/c       Dr
           Cess on CVD a/c       Dr
           Special CVD a/c        Dr
           Vendor C a/c             Cr.
4. Cenvat credit for the product will be taken by person who handling Excise in that company
Entry : Cenvat Clearing a/c Cr.
            RG23A Part II   a/c Dr.
5. Clearing of Cenvat Credit
Entry : Cenvat Clearing a/c Dr.
            CVD clearing a/c    Cr.
            Cess on CVD a/c     Cr.
            Special CVD a/c     Cr.
6. After Bank payment they will transfter to us
Entry : Vendor a/c - Dr.
           Bank   a/c - Cr.
Please tell me how to configure and post accounting entries
Step by step
Thank you very much
Minh

Letter of credit for vendor

Dear all ,
Can anyone tell me how to create letter of credit for vendor . like the one create for customer via T.code VX11N
thank's

hi,
VX11N
is a transaction to maintain the Customer Letter of Credit and not Vendor's. In system we dont capture Vendor LC.
regards,
Sudhir

How to track Letter of credit in FI Module.

Dear Gurus,
(Exports scenarios)
I have configured letter of credit for customer's export scenario. At end user level we are creating letter for credit using VX11N. Once the letter of credit is created, we link it to the sales order at header level in billing document tab - financial document field.
I would like to know how can we track this letter of credit in FI module? For example if we receive payment from the bank against letter of credit which is linked to sales order then how will we be able to track that letter of credit while entering the customer payment in FI module.
Also help me understand whether I am posting it to right forum, as I am posting the question for the first time here.
Please advice. Thank you.
Edited by: jayfanse on Jun 9, 2011 5:25 PM
Edited by: jayfanse on Jun 9, 2011 5:26 PM

Dear Jay,
We are also using letter of credit sale in our company but the LC payment is normal from accounting side when ever Accounts receive LC payment from the customer they will post it against customer account (Customer Code) and write the Text this payment against so and so LC and Commercial Invoice Number if you run FBL5N Report you can see this text.
There are some reports to check the LC sales scenario: VXA1, VXA2 & VXA3
Regards,
MH

Letter of Credit for Vendor Payments

Hi All,
We are implementing ECC 6.0 Version.
The client requirement is to create Letter of Credit for Vendors and to capture data relating issue of Letter of Credit, Terms of Payment and Expirition Date. Against a Single Letter of Credit issued to a vendor client may receive more than one Invoice till the Expiry period of the Letter of Credit and Value. Further, client may also amend the Old Letter of Credit by extending the validity period or the value of the LC.
I know that we can create letter of credit through Special GL indicator 'L'. But it is one Letter of Credit to One invoice for clearing. How to map one letter of credit to multiple invoices and how we can capture expirition date of LC.
Further same vendor can have multiple LC opened against them for different projects. Please let me know detailed configuration steps.
Best Regards,
Bhargav.
Edited by: Bhargava Ram on Oct 3, 2008 3:40 PM

Hi,
Sorry i guess my question is not clear. It is not to link any LC with PO
The client will raise a single LC against any import vendor. Since these are large CAPEX related purchases, the vendor will send multiple invoices. The bank will adjust the LC against the invoices. Post adjustment the bank will send th advice to the company.
My question was how we can adjust multiple invoices against a single LC
THanks
Sembian

Process Of Letter of Credit for Imports

Dear all,
Any one tell me process Of Letter of Credit for Imports ?
which transaction code can I use to post accounting entries ? which step to configure ?
step by step
Thank in advance
Minhtb
Edited by: Tran Binh Minh on May 8, 2008 5:44 AM

Hi Phani
Thank for your help
Please tell me step by step from creating a letter of credit to paying
I have a business below:
1. The Clearing agent ask for amount, the person who receive the product will give Letter of Authority to Clearing Agent. The clearing agent move to bank and take check.
For this purpose, we just issue LA.
2. Prepare Purchase for the Vendor from whom we are going to receive the product. There may be 2 or more Vendors.
1. Product cost to be transferred to Vendor A
2. Freight or Other Charges to Vendor B
3. Customs Duty and Others to Vendor C
3. First We have to pay Customs Duty to Commissioner of Customs after LA issued.
Entry : Customs Clearing a/c   Dr
           Cess on Custom a/c    Dr
           CVD Clearing a/c       Dr
           Cess on CVD a/c       Dr
           Special CVD a/c        Dr
           Vendor C a/c             Cr.
4. Cenvat credit for the product will be taken by person who handling Excise in that company
Entry : Cenvat Clearing a/c Cr.
            RG23A Part II   a/c Dr.
5. Clearing of Cenvat Credit
Entry : Cenvat Clearing a/c Dr.
            CVD clearing a/c    Cr.
            Cess on CVD a/c     Cr.
            Special CVD a/c     Cr.
6. After Bank payment they will transfter to us
Entry : Vendor a/c - Dr.
           Bank   a/c - Cr.
Please tell me how to configure and post accounting entries
Step by step
Thank you very much
Minh

Materials Management: Letter Of Credit for Vendor in SAP ECC 6.0

Hello Experts,
We are in the process of implementing SAP GTM for our Client.
One of Our Prime requirement is to map Financial Document "Letter Of Credit" for the Vendor in case Imports. I found that Letter Of Credit can be created only for Customer in Sales/Foreign Trade but the same option is not available for Vendor.
Does sap support Letter Of Credit in MM-Imports or in Finance for Vendors?
Thanks & Regards,
Ganesh

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How to config letter of credit for an import

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