How is the letter of credit captured today on Oracle, presumably OE?

Hi All,
This is published on shipment::released per shipset.
I would like to know if the data entry AND the database field for this are :
- data entry is custom or vanilla ?
- database field is custom or vanilla ?
In both cases, if vanilla, then:
- is this actually entered or held in a 'letter of credit'
field or is some other field being used
- is this entered in a specific field on screen or a Note ?
- is this held per customer or per order or per shipset ?
Thank you,
SM

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

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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

Order is going on credit hold even though the letter of credit is available

The order is going on credit hold even though the letter of credit is available for the sales document.
New Value of docuemnt is 7 USD
Credit limit 100,000 USD
Total credit exposure: 22,825,113.81 USD
Letter of credit value: 10,000.00 USD
Why the document is going on hold? what all settings need to be checked

Dear Customer,
please check you customizing settings with note 18613 concerning the credit management.
Addionally you should get an information in the order (if you save the order) why the credit limit is not fullfilled.
regards
Claudia

How to configure letter of credit in SAP

hi all,
how to configure letter of credits (LOC) in sap.
regards
srinivas

Hi,
Letter of Credit / Bank Guarantee are noted items in SAP. There is no effect in the books of accounts for these items. You have to create seperate Spl G/L Indicator for LOC and assign the same to normal reconciliation account of Vendors / Customers as per your requirement. For creating this go to 'OBXT' and the necessary configuration. To create LOC in SAP Easy Access goto F-55 and process the transaction.
Regards
Sarma BH

How to enter letter of credit and bank draft

hi,
1) if i would like to enter letter of credit and bank draft in system, what tcode to do so?
2) it is statistical or noted?
3) LC can be from customer and vendor?
4) bank draft only for customer, right?
thanks

Hi,
First you have create special G/L Indicator for customers/vendors and assign the same in OBXT and create LOT transaction in t.code F-55.
Try once and given feedback.
Regards
Sarma BH

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.
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Sridhar M

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How does the return sales order captured the price for mat. Doc. during GI

Dear Guru,
We have a commercial return sales order process, which we have created a Doc Type YR01 "Commercial Return"
everytime when this YR01 is been generated from the Customer Return PO, we need to change the MAP via tcode MR21.
Problem here, this time the user processed with a wrong step, the user straight away to create a DO and GI for this YR01 before the MAP is changed. SO obviously the price in Material Document generated when GI is inccorect, thus a reversal for this GI and DO is done.
After DO and GI is reversed, we update the correct MAP via MR21 and perform a DO and then GI, but we realized the Price in material document doesn't capture the latest updated MAP price.
So after many testing, we found there are 2 ways to solve this,
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2. Or during the MR21, select the variance "Special Stock - Sales Order"
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Can i know where does the SO capture the MAP price and where and which table that the MR21 will be updating when selected variant "special stock - sales order"?
Thank you very much,
Chee Wee

Hi,
The price entered in MR21 updates the price for the material in material master "accounting 1" tab page. This will update the price in the table MBEW according to the valutaion class you have assigned to the material type.
If you are entering "Special Stock - Sales Order" in MR21. the valuation class for sales order stock should be assigned for the material in the material master "accounting 1" tab page MBEW-EKLAS, this valuation class will have an altogether different accounting, so according to me option 1 i.e reversal of document YR01 is a more easier solution.
Regards
Aadesh Kamat
Edited by: aadesh123 on Jul 11, 2011 10:45 AM
Edited by: aadesh123 on Jul 11, 2011 10:48 AM

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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

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.
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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

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 is the letter of credit captured today on Oracle, presumably OE?

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