Letter of Credit from Verizon?

I am moving into a new apartment and getting heat and hot water from the gas company. The gas company charges a large deposit for new customers who don't have an established history with them to ensure payments are made on time. They said they'd waive this charge if I could provide a "Letter of Credit" from one of my previous utility providers indicating that I have not missed payments while in a contract with them. My cell provider, Verizon, is the only one where the account has been in my name and the gas co. said they'd accept it and that these letters from Verizon are common. However, I can't find anywhere how to request such a letter from Verizon and calling customer support I feel is useless - lines are busy for ever. Is anyone else familiar with this document and know how to request one?
Thanks!

ewirkkala,
Congrats on the new apartment! We want to make sure you are able to have access to payment history. You can view your payment history online via your My Verizon. http://vz.to/VUjzfj (number 11).
LindseyT_VZW
Follow us on Twitter @VZWSupport

Similar Messages

90 days to receive credit from Verizon

My wife and I just transferred our verizon account from my name to hers, to get the discount that her company gets for verizon usage since I just got laid off from my company, who also had discount. The credit for the amount paid on the old account for the used days was not credited towards the new account but a credit check will be issued from verizon. After receiving two statements without a check from Verizon, I was told from the customer service representative that I need to wait for the next statement and call in again to request a check per Verizon's procedure. This is totally unfair, as we have been paying our bills monthly, without any late payments for how many years and when it comes for verizon to pay us back we have to wait 90 days. If we waited 90 days for us to give them a bill, we would have our services terminated. This procedure needs to be changed as it is not a customer friendly rule that will make people change cellular services to other companies. We need our money back, especially after being laid-off.

It takes 90 days before you get your money back because the FCC gives wireless companies up to 90 days to report usage. So, say the last month you had your account you used 800 min on a 900 min plan. Now, 30 days later, another company reports that you used 100 mins on their various towers during that last month. Now you're at 900 mins. Then another 15 days later, another 15 minutes are reported from another company's towers. Now you're technically over by 15 minutes. With an overage rate of .40/min you'd be charged 6.00. If they had already credited you back, you would now be recieving a bill for 6.00. let's face it, the odds that someone would make that payment are slim to nil. (What I gave is just one scenario. There are also thing like global roaming, text messaging, etc that can take longer to report.) Basically the FCC is the reason it takes 90 days to get your credit back.

"Cannot Send Message" from Verizon to Hotmail

I see by reading this board that many others have problems with Verizon e-mail accounts.
When I try to send e-mails from my Verizon account into my Hotmail mailbox using an iMac, I get this message every time: "Cannot send message using the server e-mail." The only thing it is letting me do is send an e-mail from one Verizon folder into another. It won't let me go from Verizon into Hotmail.
I checked with Apple tech support, and their claim is that Verizon is for some reason blocking the outgoing e-mail into MSN/Hotmail.
I checked out the options under 'Advanced Account Info' but am not tech-savvy enough to understand what I am looking at, and the bottom section tells me to get advice from a systems administrator. Could anyone tell me the best way to go about getting this advice?
Thanks.

We would want to make sure the mail settings are correct. I have sent you a private message to get more information.
Anthony_VZ
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Why won't Apple allow Verizon to let me upgrade from an Android phone to an iPhone 5 early at the reduced price?

Why won't Apple allow Verizon to let me upgrade from an Android phone to an iPhone 5 early at the reduced price?

Here's one of my responses from Verizon:
Dear Kevin,
Good Afternoon; I know how frustrating it is to want a new phone, and be told that you are not eligible to upgrade early. My name is Shane, and I will be assisting you today regarding your most recent email.
I am sorry to say that it is not possible for us to do the upgrade. We most certainly don’t want to lose a valued customer, but we can’t break our contract with Apple. If we did this for you, we would have to do it for everyone. If we did this for everyone we would risk losing our contract with Apple, and not be able to sell iPhones at all. I understand it is a savings to cancel your contract with us, and move to another provider we certainly don’t want you to do that, but that is an option for you.
Kevin, I am sorry that we were not able to give you the resolution you were wanting. I do appreciate you being a valued Verizon Wireless customer, and I hope you have a good day!
Sincerely,
Shane
Verizon Wireless
Coordinator IRT

How to collect the cash from letter of credit

Hi,
I have made the incoming payment using F110 screen using the letter of credit. How can i collect the cash from the bank using the letter of credit? Which t.codes to use.
also let me know the link in sap help where i can read more about letter of credit.

Hi The ltr of cr functionality is similar to Bills of Exch. functionality. What matters is all about the doc. processing.
I suggest you know about Ltr of Credit functionality in google first.
Regards.........AJ

Will NOT let me purchase from iTunes, I switched cards, and then redeemed more gift cards. Now it will not let me buy even from my credit from cards.

switched cards, and then redeemed more gift cards. Now it will not let me buy even from my credit from cards.

Contact iTunes Customer Service and request assistance
Use this Link > Apple Support iTunes Store Contact

My account was hacked in September -- Still no action from Verizon. Please help!

My account was hacked in September, someone added an additional line and ordered an iPhone, adding more than $600 to my account. Verizon quickly identified this as fraud and assured me that my account would be cleaned up. Almost three months later, I still have hundreds of dollars billed to my account that no customer service rep has been able to explain. My service is now pending disconnection, even though I have continued to make my regular payments, but I have refused to pay the additional charges incurred by the hacking of my account. I've spent more than two work days on the phone with Verizon, speaking to about three dozen agents and supervisors, explaining my situation all over again, taking valuable time off work and away from the family. They all promised to help, but nobody actually fixes this mess that I did not cause. Ten days ago, I wrote a letter to customer service which I will post below. I have not heard back from Verizon. No one has called to apologize or offered help in restoring my account. As a cellular customer of 16 years, I have never experienced something like that. I simply don't know who to talk to anymore to get this straightened out. No customer deserves to be treated like this. Please help me find out who I can contact with the authority to clean this up for me! Many thanks in advance.
Here is the letter sent to Verizon with signature confirmation Monday a week ago. I does not detail today's trouble, when I spent another 90 minutes on the phone with three different agents and one supervisor, but I got disconnected every time.
Dear ladies and gentlemen,
I am writing this as a customer complaint. My family has been a loyal Verizon Wireless customer since August 2011, after making the change from T-Mobile. We currently have the 15GB Everything Plan with five lines, all of which are used by family members. Since July, we are also customers with Verizon FIOS for our home internet and cable, which means we pay Verizon an average of $5,600 annually.
My wife is the primary account holder and I have an EDGE plan for my own line. In September, I ordered a new iPhone through my local Verizon store in XXXXX., which is, as far as I know, an independent store with a Verizon license/franchise. When I picked up my phone, the agent at the store noticed that my account was in “chaotic standing.” First, he said that we had been advised badly by Verizon when we initially signed up in 2011, resulting in much higher monthly fees than we could have had under the 10 or 15 GB Everything Plan, and he suggested that we switch to this plan immediately.
It was frustrating to learn this, because in my two years of communicating with Verizon agents by phone, no one ever bothered to inform us that we paid more for our account than we had to and that there was a more compact plan available which would have decreased our monthly bill. My daughter exceeded her data allowance on an almost monthly basis, which we could have avoided under the plan that we currently have but didn’t know about.
Then I also learned that my current bill had suddenly skyrocketed to over $900 because a sixth line had been added to our account and someone had ordered a phone and charged it to our account. The local agent was extremely helpful, he immediately suggested that this was fraudulent activity and he called Verizon to restore my EDGE eligibility which I had lost due to these fraudulent charges that I had not caused and not paid. He did talk to the Verizon fraud department and reported the incident, and I was told that the additional charges would be taken off my account and my good credit – and EDGE eligibility – would be restored. In good faith that Verizon would take care of this, I left the store as a slightly worried, but satisfied customer.
About a week later, I called Verizon to check on my account status because I wanted to EDGE up my teenage son’s line XXXXXX and get him a new iPhone 6 for his birthday. The agent I spoke to told me that the fraud situation was still showing on my account and that my EDGE eligibility had not been restored yet, but he assured me that this would be taken care off by the following week, when my son’s line would be eligible for an EDGE upgrade under his plan’s timeline.
When I called back the following week, I was saddened to learn that contrary to the previous assurance, our EDGE eligibility had not been restored and the fraudulent charges to our account were still showing on our bill, which was quite confusing because it was impossible to figure out my actual charges. What followed was several weeks of phone correspondence with Verizon agents who apologized again and again and assured me that my EDGE eligibility would be restored so I could order my son’s phone and my the additional charges would be dropped from my account.
However, this didn’t happen. I am not going to list the entire call log, because I know that you can easily access these records. But for several weeks in October, I spent many, many hours on the phone with Verizon, explaining the entire situation regarding the fraud again and again. I listened to assurances, promises, apologies, and I was transferred multiple times to different departments to get my EDGE eligibility restored. After an incredibly frustrating and time consuming experience I was eventually able to order my son’s phone. But several days later, when I checked the order status, I noticed that the order had been canceled because – I’m sure you can guess it by now – my EDGE eligibility had still not been restored. This forced me to go through the whole process again and I spent an entire afternoon on the phone with several different agents and managers until in the early evening I was finally assured that my account standing had been restored and that I could order my son’s phone. That day alone, I had to leave work five hours early to get on the phone (from about 2 p.m. until 7 p.m.) and work this situation out so my son could get his phone, which he eventually received on Oct. 31.
I work as a newspaper reporter and I have an incredibly busy schedule. Yet the inability and unwillingness by Verizon to help me straighten out my account took much of my work time, which I had to make up for at a later time in order to get paid. Unfortunately, this meant that I had to take out much of my highly valued family time to talk to Verizon, which increased my frustration with your company, as you surely can understand.
As a loyal customer, I can’t stress enough how incredibly frustrating this experience was. I was forced to spend many hours away from work and family just to deal with the same situation over and over again. I lost track of the hours, but I am sure that one look at your call log will confirm that adding up these hours it was more than two full work days that I had to spend on the phone to work out a situation that I did not cause to begin with. Adding to these already incredibly upsetting circumstances were at least a couple of calls where it took me 15 minutes to get an agent on the line who then promised me to transfer me to the right person to help me, only, after more waiting time on hold, to be disconnected and start the process all over again. How I was able to maintain my composure and continue to be polite and respectful to the agents, I don’t know. I’m sure they are used to much harsher treatment from other unsatisfied customer for much lesser reasons.
It is bad enough that a company like Verizon cannot protect their customers from getting their accounts hacked and hundreds of dollars being charged to their account. But what is even worse is that I have to spend hours and hours of valuable time and energy to mitigate a situation and fix a damage that I have not caused in the first place and had no control over, and Verizon has not offered me anything to reward my patience and loyalty other than brief apologies from stressed out agents that obviously were not qualified to handle such situation, resulting in their own frustration with this issue.
What adds to this extremely frustrating and highly disappointing experience is that because of the hacking and the fraudulent charges that polluted my account for many weeks, it has become impossible for me to understand what I am being charged for and what I actually owe for the services that I did order and did receive. This frustration once again peaked on Saturday last week, when an agent told me that my past-due charges are more than $600, with a total of more than $900 total due within three weeks, ( that is about the same what Verizon charged me after my account had been hacked and an additional line and phone had been ordered by the perpetrator) in spite of my continuing “blind” payments towards my balance since this all began in September.
I talked to two agents on Saturday, one from Customer Service; the other from the billing department, and neither was able to explain – or even seemed to understand themselves – how these charges occurred. In good faith, and in order to avoid a disruption of service, I still made a $170 payment, which is about half of what my total monthly payment should be under my current plan with five lines, and I vowed to pay another $170 by the end of next week in the hope that by then, someone with authority and complete and full understanding of these circumstances will have contacted me to explain my account and issue a sincere, well meant apology for what has happened to this loyal customer.
Believe me, I rarely reach out to a company and complain like this. I have a busy and hectic schedule, but the time it took me to write even this long letter to Verizon was just a fraction of the time and energy that I wasted to restore my account and get my son his new iPhone on time for his birthday, which he was looking forward to very much.
But after my experience with Verizon, I feel that Verizon should know that no loyal customer deserves this type of treatment and should ever have to go through what my family and I had to endure because of Verizon’s inability to protect the privacy and integrity of our account, and to restore it to its original standing.
I left T-Mobile in 2011 after a total of 13 years as a loyal customer, because I was unhappy with their increasingly bad customer service. I came to Verizon in the hope that my family would have a better experience here, and we were ready to stay with the company for many years to come. But at the moment, we are regretting and reconsidering our choice. Our final decision will certainly depend on the final outcome of this incredibly frustrating situation.
Believe me, I absolutely understand that fraud and the breach of customer account information occur even in the best and most professional companies. But I also believe that if this happens, the integrity and professionalism of a business must be judged based on their handling of such instances and how they treat customers who fall victim to such criminal practices without any wrong doing on their part.
A company should do their best to not only fix the damage and try to make sure that this will not happen again, but also guide and support their loyal customers affected by this and provide them with enough information to understand what is going on. Most importantly, it should be Verizon, not the customer, who should carry the burden and the responsibility of such fraud. But unfortunately, Verizon Wireless has fallen short in this regard, as we were completely left alone and forced to fight for the full restoration of our account and to this day are confused about our bill and these sky-high charges that no one can explain to us.
On top of that, I am tired of having to explain this situation dozens of times to different people with your company over and over again. No one should have to go through that, and I believe that your personnel has enough pressing business to deal with than to waste their and their customers time.
Please understand that I am not complaining about the services by the more than a dozen individual agents that I talked to in order to sort out this mess. The vast majority of them have been polite and a couple honestly tried to go out of their way to help me. It is rather the way that your customer service is set up in total that reeks of failure to support and help a customer whose account had been hacked and scrambled beyond recognition.
That’s why it is my hope that my reaching out to you will raise a red flag at the right places within your company to identify the failures in your service, work the problem and fix it so other loyal customers like me will be spared such hassle in the future. I think it wouldn’t be too far fetched to assume that we are not the only ones and last ones to fall victim to hacking and failing customer protection and service as a result.
Of course I also sincerely hope that my complaint will finally set the wheels in motion to remedy the problems in our own case. We believe that the very least that Verizon could do as a sign of good will and to honor our customer loyalty to is sweep clean our account and allow us to start from scratch so we can track and understand our future monthly charges and continue to make reliable payments to our account as we have done for more than two years until the hacking of our account and Verizon’s unprofessional and helpless handling of the situation has changed everything.
I hope that someone within your company will take this complaint seriously and resolve this very unfortunate and frustrating situation in a manner that shows that we are valued and respected as the loyal customers that we (still) consider ourselves and that will help us restore our faith and trust in Verizon.
I am looking forward to your timely response.

I'm confident that if you have spoken with our Fraud Team directly, that there are the proper wheels in motion to resolve all of the concerns that occured as a result of the fraudulant order on your account. It may take up to 2 bill cycles for all the adjustments to be applied and the changes made to your account to bring the dates and eligibility back to normal, so you should definitely be nearing the end of your wait. Based on your description, it may have been a while since you spoke with them directly instead of the customer service team, so I encourage you to give them a call at your earliest convenience to put your worries at ease. If you need to make arrangements for the charges that appear on your account, our Financial Services Team at 866-266-1445 will also be able to help possibly place a hold on the account regarding the disputed charges so there's no accidental inturruption in your service due to this unfortunate situation.
JenniferH_VZW
Follow us on Twitter www.twitter.com/vzwsupport

How do I file a complaint about the service I received from Verizon and if I file a complaint, will anything really change?

I was considering changing service carriers for two of my children on our Verizon plan. The plan was extremely expensive and my two high school aged children had very old slide phones (one wouldn't even receive calls anymore!) I had another carrier that was much more reasonable for what they needed and they were both able to get smart phones for $100. I called Verizon over the holidays to check if the phones were under contract. The customer service representative asked what I was thinking about doing. I was very honest and told my plan. I was then told by the representative that the phones were not under contract. I switched my children to the new carrier only to receive a $428 bill for early termination of contract!!!!
When I called back, I was told by the new representative that I did receive correct information. Apparently, I did not ask the "correct" question. The "correct" question would have been, "Are the LINES under contract? (not the phones!) Now, I am trying to file a complaint and have no idea where to find the area for the complaint! Please help!

AmberF
If I port back, I have to take away the two smartphones that I gave my high school children for Christmas. (Sorry kids, Mom is sending back your Christmas gifts because Verizon did not give me the correct information regarding our plan! You get to go back to your 6 year old slide phone, which doesn't receive calls, and your 3 year old slide phone, that doesn't make calls!) Also, if I port back, the best that you can give me is $30/month on these phones unless I purchase new phones from you!
I have decided to write Verizon a letter of complaint. I am willing to concede that maybe I did not use proper terminology when requesting information regarding my plan. I did, however, inform the customer service representative of what I was trying to accomplish and she should have been more upfront with me. I am looking for some type of compromise from Verizon. I just received my Verizon bill and it is $817.58!!!! While this will create a very difficult month for my family financially, I am going to pay the bill in the hopes that Verizon will issue me some type of credit for their part in this debacle!
If I do not receive some type of compromise from Verizon, I now know when the contracts for all my other lines (5 at home and 5 for our business) will no longer be under contract. If Verizon cares so little about their customers that they refuse to admit that they might be somewhat at fault, they will no longer have my business. I will regret this decision, because except for a few minor problems, Verizon has usually been easy to work with. I consider this a major issue. I was trying to be prudent and check the terms of my contract before I made any changes and I don't feel Verizon was honest with their answers.
AmberF, if you can make some sort of financial compromise happen, I will be very happy to thank you! As I stated, $817.58 Verizon bill is going to make February and potentially March very difficult months for my family.

Jump Ship from Verizon to AT&T?

Whats up guys,
This topic has most likely already been covered somewhere in the past few trillion posts about the iPhone, but here goes... I drool over the iPhone daily but have not committed to one yet and I was wondering if anyone could provide me with a little feedback on having ditched Verizon (which I feel is a pretty reliable network) and bought the iPhone, hence moving to AT&T?
Are there any issues with more dropped calls on AT&T than Verizon? Any other reliability issues? Is AT&T's 2G EDGE really that slow? Are the rate plans between Verizon and AT&T about the same in terms of minutes/$? Are you happy with your decision? Should I go for it? I desperately want to, but just need the push.
Any feedback would be most appreciated. Peace.

I hated Verizon. It got so bad I was literally dropping EVERY call I made. My calls to customer support were a waste of time, it was obvious Verizon didn't care at all. I got so upset one day that I threw my phone on the ground in a fit of rage, and obviously blew it into a million pieces. I switched to Cingular that day and just payed off the last month of my contract with Verizon.
Cingular was like a breath of fresh air. They acted like they were actually happy to help me when I called support or went into a store. The rollover minutes alone were worth switching and have saved me HUNDREDS of dollars in overages (my first bill from Verizon was over $400, I should have left them right then). I get more minutes for the same money with Cingular. The cell service has been superior in every single way. Where before I was lucky to get a signal on the street corner standing as tall as possible, now my cell phone even works in my basement. I couldn't be happier. Then in walks AT&T. Like they were the big heros in this iPhone deal. AT&T can bite my A$$. The cell service is still fine, but it's the little things that **** me off. Like their refer a friend program. I have referred 4 people so far who signed up to contracts with AT&T, I sent them a referral, they replied back. We didn't get credit for a single one! AT&T goes out of their way to make it impossible for you to collect the referral credit ($25 for both parties). I won't get into it now but lets just say, I'm finished referring people to AT&T.
Check whomever has good coverage where you live and go with that service. If you want an iPhone you can either use AT&T or hack it and use T-Mobile (I've always heard good things about them).

Philly man gets 17G bill from Verizon......and I'm in a similar boat!

New to this forum.
... I had purchased a USB 760 stick device and Data plan $59. per month a few months ago, so we could get internet access while on a camping trip........ Things went bad early on and have'nt gotten any better so far.
To save those of you from a longer story, which i just uploaded fully on my blog
http://ron-sheridan.blogspot.com/
the short of it is the news story "Philly man gets 17G bill from Verizon" (google it or just click on the link I put in my post) is incredibly similar to my problem. Any advice or help in resolving this ....short of fully paying what I consider outrageous fees for a service that could have been suspended or limited or ??
Thanks in advance.

Hello Budone,
Well, OK, first things first.
Yes, with such numerous responses each day on this site,,,, you are quite active ...........but, I can give you the benefit of any doubt. So, let's not get in anyones face but see if there is a way to make Verizon a more "Customer Friendly Place"...and maybe in the process figure out a way to solve about a thousand folks in my position.
Would that be something Verizon and you can feel ok about?
I don't know... what a fanboy is, but I think I'm getting your drift.
You mention the USB device(FOB?) Ok I'll learn the terms. Do YOU read all the crap that comes with everything we buy? coffee makers, door bells, even your credit card legalize...tons of blinding grayness................................. No you do not. It's in the trash. As soon as we open the item and WE, YES WE expect the device/product to work as expected (as we have learned to respect the market we live in.) we throw the crap away and go on with our busy lives. The glitches are an incredibly small fraction of the the one percent of our lives. I am there now, dealing with one of them and looking to find a way to make things better for anyone else in this predicument as well as Verizon's dealing with customers. I call that a WIN WIN if it's possible! how about you? I can not believe that IF Verizon wished, they could not make this system more user friendly and in doing so would gain a better reputation and less law suits/complaints. Isn't the whole thing about customer service? (and do not twist my words!)
I'm not a very computer literate person, I'm learning and struggling as are many... I DO NOT WANT OR EXPECT SYMPATHY! but I do expect a system that works for those that wish to be apart of the system that seems to need us as well as we need them! OK?
I accept responsibility. I'm a Vietnam Vet, Korean Vet, retired NYC. Firefighter, and now as a senior, still GIVE. But when I feel, FEEL that the "system" set up by an organization is faulty and can do better, I speak up.

Payment by letter of Credit against Purchase order

When we are purchasing from Foreign Vendors , we need to open a Letter
of credit (LC) .
Depending on the terms of Purchase order , Vendor will discount it /get
payment from Bank on submitting LC and other necessary documents.
Vendor's Bank, at appropriate Time will send the same to Customer's Bank
How to mapped this scenario in SAP-MM and FI .
Activities required to be updated against Purchase order :
(1) Payment Terms : 100 % against LC on delivery
(2) History should reflect LC opened - Date and Bank Name which
Vendor has suggested, our company's Bank Name
(3) LC discounted details
(4) LC payment due date to our company Bank - as Procurement needs
to inform to Finance for this.
Any help will be highly appreciated.
Thanks and Best Regards,

When we are purchasing from Foreign Vendors , we need to open a Letter
of credit (LC) .
Depending on the terms of Purchase order , Vendor will discount it /get
payment from Bank on submitting LC and other necessary documents.
Vendor's Bank, at appropriate Time will send the same to Customer's Bank
How to mapped this scenario in SAP-MM and FI .
Activities required to be updated against Purchase order :
(1) Payment Terms : 100 % against LC on delivery
(2) History should reflect LC opened - Date and Bank Name which
Vendor has suggested, our company's Bank Name
(3) LC discounted details
(4) LC payment due date to our company Bank - as Procurement needs
to inform to Finance for this.
Any help will be highly appreciated.
Thanks and Best Regards,

Do not buy anything from Verizon that they ship to you

I have returned 2 Apple iPhone 6s that did not work properly (Verizon could not even activate the second one) and now the bullies at Verizon are charging me for both despite the fact they were returned to them almost 3 weeks ago. I have called 6 times and spent hours on hold. Great customer service, really nice people, but they are useless. Beware: never buy anything from Verizon that is shipped to you. They will screw you. I have the tracking numbers. The Customer Reps acknowledge receipt, but no credit given.

dsfrench
This is not the type of experience we want our customers to have. Did you use the shipping labels provided by Verizon Wireless? How did you ship the phones back? Provide more details to better assist.
YareliM_VZW
Follow us on Twitter at @VZWSupport

How to deal with Letter of Credit in Oracle Payables ??

In case of letter of credit, an 100% advance payment is done to bank, Bank charges its commission,
The letter of credit is for goods imported which is part of inventory. As standard practices of finance, exchange gain/loss and expenses incurred to bring the inventory to its present location and conditions should form part of inventory cost.
This cost are not known at the time of PO, so only purchase price is ascertain.
How to track custom duty paid, insurance, freight, and cargo handling expenses incurred on material.
All this cost should be charged to item and according unit cost should be adjusted.

Well, when are these other costs known? Perhaps you do not know them until you get the invoice from the supplier? Are you then doing match to invoice (either match to PO or match to receipt?)? What version of EBS are you on? My initial off the top of my head though is that when you match the invoice to receipt, the quantity amount should match, but the cost amount would be higher, by the amount of these extra costs. So you would have to be sure you don't have any match tolerance that would prevent such a match. That would get the entire cost charged to inventory, and the unit cost on that invoice is Cost Amount / Quantity. Without knowing anything about your inventory setup, not sure how that would impact you.
Of course, if any of my assumptions are wrong, then my thinking will be wrong. Thus would be helpful to supply additional information about your situation.
John Dickey

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

Financial documents/ Letter of Credit and down-payment

Hi,
I try to map requirements from business against solution in SAP.
There is a scenario as follows, where part of the sales order is covered through down-payment. This should be exempted from Letter of credit value.
Example
Sales Order value 1 Mio USD
Down-payment 0.2 Mio USD > paid immediately after sending out the request invoice (request is generated in SD from Sales order). Until payment, this would remain as the net exposure in the system.
LOC value should be only >> 0.8 Mio USD <<
Is there a solution in SAP to this? What would need to happen to enable this?
Cheers
Hein

Hello Hein
Well, for your requirement you have to go development.
For this you can use No credit check in TCode OVA8 for Define Automatic Credit Control for your desired combination of Credit control area, Risk class & Credit group.
Where you have to write a requirement with help of ABAPer.
OR
You can take assistance of FI guy and looking to define Reconciliation Accts Without Credit Management Update
Where In this IMG activity, you can cancel the credit management update function for certain postings by posting to an additional reconciliation account; the reconciliation account without credit management update.
When you make postings to the standard reconciliation account, the receivables total within credit management is then updated, but those postings made to the reconciliation account without credit management update are not.
In Japan, various receivables that are considered certain to be received are excluded from credit management update, including:
- Active prepaid/deferred items
- Payments by letter of credit
Hope this can assist you.
Thanks & Regards
JP

Letter of Credit from Verizon?

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