Loss of credit

Hi, can you please tell me how come all my credit disappeared in the last couple of days and I haven't been using Internet or making calls/ texts/ voicemail?
Thanks!
By the way, I tried to solve this via web chat, but I've been trying since 9am-2pm and the last 7 hours it says all your staff are invaluable as they are busy? This is way too long?

Because when I spoke to one of your colleagues on phone help line (about another issue) I specifically asked about my credit so I know as what to do WOTH it etc & I was told it dsnt expire. So really it was mistake on behalf of Meteor as u was given incorrect information. Can u pls help. Thanks in advance

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LC Accounting

Dear all,
I have a following accounting transaction in case of Letter Of credit. Is there any means of handling this in without just passing a plain JE. My client wants to take it thru a bank receipt:
1) Purchase import dr.    8818320 (amount of commercial import invoice* currency rate as specified by bank)
party                        cr. 8818320 ( This can be handled by A/P Invoice)
2) Party            dr.    8818320
    to Bank L/C A/c      Cr. 8818320   ( On same day) ( This can be handled by incoming payments window)
How will we handle the under mentioned transaction:
After 90 days bank will pay on company's behalf as per that days exchange rate. Bank will send an advice regarding the same
3) Bank Lc A/c    dr.   (with amount on commercial bill * exchange rate of that day)
   Bank CC a/c          Cr. ( with same amount)
   bank Commision a/c debit
   Service tax receivable a/c   dr. (on commision)
   Bank Interest   a/c   debit
   Bank Charges          Debit
   to Bank CC a/c                  credit
   Foreign Rate Difference gain/loss                db/credit (as the case may be)
Kindly advice

Letter of Credit option is not available in SAP B1 2005B.
All that you got to do is only through Journal Entry.

A/R and A/P invoices and credit memo realized currency gain/loss report

Hi,
We need some help in getting a report from SBO.
We would like to analyze their realized currency gain and loss account. We are lookiing into a report that shows the individual invoice/ credit memo foreign and local currency amount against the incoming / outgoing payment foreign and local currency amount.
Sometimes we would do direct offset invoices in the incoming / outgoing payment, and sometimes it would be thru internal reconciliation. We have look thru the tables for the past 2 days but could not find any link between the invoices and payments especially so when reconciliation is performed.
Can this report be done either in XL Reporter or in SQL? If yes, which tables are these information store?
Thanks.
Regards,
Whay Peng

Hi Jimmy,
There is no need to run the exchange rate differences, when invoices that was offset during the incoming and outgoing payment. The realized currency gain/ loss account will be generated when the incoming and outgoing payment is made.
During reconcilation, yes we did run the exhange rate differences to get the realized currency gain / loss.
Could it be the two tables that you mentioned are storing information on the unrealised currency rate differences? We did not run exchange rates differences to provide for any unrealized gain/loss for the period, therefore the tables on our end is empty.
Regards,
Whay Peng

HT1918 I am trying to change my credit card number, due to loss of former card.

I am trying to change my credit card number, due to loss of former card. itunes is declining my new card as invalid. do i need to create a new appID?

no dont create a new apple id. that will only make more issues.
see this article
http://support.apple.com/kb/HT1918
Peace, Clyde

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

Foreign Exchange loss is not getting correct amount

Hi Guru's
I have maintained loss (x) and gain (Y) accounts in OB09 for the GL account (Z). There is two open items for the GL account (Z), in that one is debit open item and another one is credit open item. The difference is 500 TRY and 0 USD.
I just went F-04 and select both open items and save it. When I saw in FBl3N for the Z account, there is still open item with amount of 400 TRY.
As from OB09, total difference amount should be gone to X account that is 500 TRY.
Could you please save me on this.
Regards, MowliT
Thanks in Advance

Hi Murali,
Thanks for your kind information.
As previously said, the GL account (Z) is working fine in test client.
In test, the GL account is open item and maintained key also. There is assiged GL accounts (X, Y) to this key.
In production, the GL account is open item and maintained key also. There is assiged GL accounts (X, Y) to this key.
And also I have checked another open item GL account and it is also having Key.
Please help me......
Regards, MowliT
Thanks in Advance

Unrealized Gain/loss from exchange rate

Hi all,
Please i need help , exchange rate fixed is checked in PO ,at the point of MIGO system use exchange rate in PO.When i check Accounting document in MIGO system Debit Stock account and Credit GR/IR account using exchange rate in PO ,but the difference of exchange rate in PO and system exchange rate, Debit Price diff. clearing account and Credit unrealized Gain/loss from exchange rate account ,I need to know if the posting is correct.Thanks. The Accounting Document was displayed as follows:
Stock account was Debited
GR/IR account was Credited
Price difference clearing account was Credited
Unrealized Gain/loss from exchange rate account was Debited

Yes the account postings are correct if you are using a Std price control on the material master.

My credit building journey, lots of random questions, advise plz

First of all, thank you so much to everyone here. I have spent the last few days reading. A lot of lingo to learn. (Luv button was my favorite) (or PYDBDB) haha. And its totally worth it! Basically my credit is fair/good. I was lazy in building it. Going through anti credit card phase just to be unique. Always paid in cash. Bad mistake. Basically the only neg on my report is 3 missed payments from 1 of my student loans (which is an ERROR). Everything else is in good standing. No chargeoffs. No collections. No bks. If you are in a rush, just look at my BOLD or underlined parts if you could please.
care credit 6/13 CL $6800
credit one 4/14 CL $850
Buckle store card 5/14 CL $500
cap1 qs 12/14 CL $3k
commerce bank 10/14 CL $2k
amazon store card 4/15 CL $800
sams club PLCC 5/15 CL $1200Amex Everyday 5/15 CL $5k util is now around 15%.
If my oldest account is from june of 2013 (care credit), and my second oldest is from april 2014 (the credit one), my score is currently at EQ 669,TU 659 myfico of 688. do u think I really should close the creditone? Has a $49 AF. I could probably close the credit one, but I just paid my annual fee less than 2 months ago. I think I should wait until a month before they charge the fee, and cancel it then, say march of 2016? I would not be where I am today without it. It has served its purpose.
I am kinda thinking my average age of accounts is going to be screwed anyway with all these new cards, and maybe closing the creditone wont make that big of a difference, and then I can garden? My AAOA says its currently 2 years 10 months.. I really was NOT wanting the sams club private label credit card. I was hoping to get the synchrony bank master card and be able to get the special $50 off $100 deal and get extra cash back on top of our plus membership. They would not approve me even though I have care credit and amazon, yet give me a $1200 limit on a non master card. The other lady at the counter told me they never approve people for the MC version. It would have been foolish for me to say no to the non MC, since they did a HP, plus at that point I did not have amex approval, and only $1k limit on my cap1 qs. If my AAOA goes way down, I guess I have 30 days to cancel the new card and just accept the HP as a loss, right? I have 7 HPs on my TU, 2 on my EQ, but that does not include my sams club or AMEX applications from this month. Only 2 of the 7 are from the last 6 months.My score is so low because of a student loan error 90 days past due, even though it wasnt, and I have written in about 5 letters and can't get it removed. On all the simulators, I have seen my score would instantly be 740-780 without the error. Ugh. What should I do about this? Keep sending in more letters? When I call in the rep always says I wont have any problem in getting it removed but that isnt the case. I was even thinking life would be better with them being serviced by a new company, but heck no... Question,
I am preapproved for a discover IT card, do you think I should go ahead and take it? I applied for one 3/14 and was declined only due to 80%util (thanks to my care credit for a relative). The EO I spoke with for the recon a year ago basically told me once my util is below 30 I would guaranteed get approved. I honestly don't need it. I do like their cashback, basically doubling it for car rentals or flowers..... maybe I should wait and apply for it once my 15 months of no interest expires on my new amex? After hitting the luv button on my credit steps cap1 qs (no AF) and going from $1k to $3k...I am thinking I could just do a lot with that card, groceries/gas on AMEX, and be fine.
I cant believe some of the stuff I have learned about. Terms like Stoozing. People making money off of no interest cash advances by placing them in a higher yield savings account. As tempting as that sounds, and not to be judgemental, I think in the time it would take me to do all that I could focus my time and energy into something and make just as much money. But thats just me. I do love couponing/frugaling and I think its a unique/cool idea though. I also enjoyed reading about app-o-rama's. That is an interesting strategy. I don't think with my scores I would have benefited from applying for multiple amex cards. Now Chase would be my ultimate goal, thats for sure.
I gotta say, it feels so good to see others beating this defunct system. I can understand why some people are so proud of the cards they have, and their limits. But to me, it seems almost like its so hit or miss. As in there isnt much continuity. Maybe some people arent being totally honest about their past on other sites. Or really the system is just that broke. One year ago, I never would have though today my score would be 80 points higher, and that I would be able to have real credit cards. It requires self control. I would not be able to be so diligent it if it wasnt for my Amex Serve card. It is SO easy and simple to take money from one account, move it to the other, pay bills, even do couponing.
Ok. So now I have some real cards. I pay my bills on time, usually in full, if not much more than the minimum, 12 days early, every month. I avoid pulling triggers on the store cards because I read so much mixed info on them (but I gotta say the kohls card sounds tempting). What else should I be doing here to improve my credit? I own my own car, don't have a mortgage, etc. Paying on my interest for my student loans will help me financially overall. I guess maybe I could cosign on someone's car loan, which would be a big risk, but I know for a fact if they ever had issues, someone would take care of it. Since I rent, should I try to get added to a family members mortgage? I do want to have the ability to get a home loan or an auto loan without astronomical interest rates. I am not planning on buying a home in the next year.
THANKS!!!

"my score is currently at EQ 669,TU 659 myfico ex of 688" Well, that is kinda awesome! In less than a month of joining myfico two of my scores have went up 30-40 points. (and my new Amex TL isnt even part of that!) I didnt even realize it. Thank you to everyone for the great advice here. I really took advantage of the SP CLI's. I have nearly tripled my total open CL. I also found out that my one 120 day late error on a student loan is supposed to drop off after 7 years. Now on experian, it said the date was August 2016. The other two said January 2016. I wonder how big of a score increase I would see from that? I am also a little frantic here because apparently disputing things like these can cause them to be closed and reopened, and taking a big hit on AAOA, at least according to creditboards. I am also thinking that 1 more HP from CareCredit could be worthwhile. Previously they only HPd my TU. Ask for 25k CLI and hope they counter for 15-20k. They did take my 2 month old amazon and sams accounts limits from 800/1200 up to 6000/7000. My care credit will be a 0 balance in the next month or two and having 15-20k 0 balance would be awesome for my uitilzation, no? I have also decided my Commerce Bank Visa is slightly evil. While 6 months ago I never would have contemplated eliminating it (as it was my highest CC CL at the time) they are just crazy. They give people bonus points for accruing interest. Seriously? Plus their points are only worth half a cent. And now the awesome shopping portal is gone where you could get 10-15 or even 20x points. No manual CLIs. System initiated every 4-6 months. Their banks are not everywhere but also not that far away. Maybe I should initiate this loan with them? They only offer real loans of $7k or more. Otherwise they have accessible lines of credit starting at $1k. They do have decent APR for used/new cars starting at 3 percent for future reference. I am getting Citi Simplicity 0% for 21 months then 12.9% offers that have the opt out notice. Previously they were for Diamond Preferred and Doublecash at 0 for 12-18mos then 19%. Credit pulls database shows sub 700 scores getting approvals but with very low CL. Seems to me with citi if you are 740+ they automatically give you 3-5x the starting limit. I am preselected on capital one for the venture, 0 for 15 then 17.9, also another QS, and the platinum prestige. I mean yes, I really could be using the extra room to push purchases through for the rewards without having to pay off during the month. I am wondering since my QS Visa in credit steps has a 22.9% apr starting in october, maybe my angle should be to see what I am preselected for in september, take the 3 HPs but apply for 2 cap1 products Then eventually combine. I dont want duplicates. I have no personal need for 15 cards with 25k limits. But... Short term 1- 6 month goals:1. Small loan 2. Complete one 3x CLI on AMEX3. Grow or Throw the commerce bank visa.4. Potentially apply for Citi Doublecash then Venture Longer term 6-12 month goals1. Close credit one in march2. under 5% util3. Learn statement closing dates TLDR: is one HP CLI worth it for a potential 20-50% increase in overall CL?

Is there change credit card details- URL link in manage my account missing

someone on this forum that has more brains than the online chat support do?
I have been trying for 4 days to get someone to find out why the change credit card details URL link is missing from my manage account area. I keep getting told the same thing over and over again...below is an example of the most recent conversation i had this morning...this is absolutely flaming useless...i should have ended the conversation before he got past the first line...
Patel: Thank you for contacting Adobe. We are available 7 days a week, 24 hours a day. Goodbye!
Rahni Verey: Hi Patel,
Patel: I am sorry for the typo error.
Patel: Hello! Welcome to Adobe Customer Service.
Patel: Hi Rahni.
Patel: We are facing down time error due to which the applications are not responding . Hence we will be unable to check anything, I request you to contact us after few hours.
Rahni Verey: I need to update my credit card information, but have not been able to due to site maintenace
Patel: We are facing down time error due to which the applications are not responding . Hence we will be unable to check anything, I request you to contact us after few hours.
Patel: I could have helped you, but we are facing internal application outage due to Server/System Maintenance and Updates. I kindly request you to Please Contact us back on 2-3 hours, We sincerely regret for the inconvenience caused and the loss you are facing with.
Rahni Verey: i have been trying to do this since Friday...its now Monday here in Sydney! How long is this going to take?
Patel: Request you to please wait for few more minutes, and the applications will start working fine again.
Rahni Verey: i am not having any problems with my applications...i want to change my monthly billing subsciption credit card details!
Patel: I do understand Rahni, in order to update the credit card details, you will have to go through the process of using adobe applications.
Patel: I have provide you with the steps, however if the steps do not work, you will have to wait for applications to work fine.
Patel: I will provide you the steps to update your credit card information.
Patel: .
Patel: 1. Sign in to www.adobe.com
Patel: 2. In the navigation pane or pop-up menu, click Manage Account. [ You may be prompted to enter your password to verify your identity. ]
Patel: 3. Under Plans & Products, click Manage Plan.
Patel: 4. Under Payment details, click Edit payment details.
Patel: 5. Make appropriate changes in the Edit Payment Method pop-up and then click Save.
Patel: .
Patel: .
Patel: You can use the below link to know how it's done page by page.
Patel: https://helpx.adobe.com/x-productkb/policy-pricing/membership-subscription-troubleshooting -creative-cloud.html
Rahni Verey: i say again, there is nothing wrong with the applications. Its your bloody server that is playing up...there is no option in account management for me to update my credit card details. i already know exactly how to do it!
Patel: Rahni, I can help with the credit card update, however to do that , I need to check with your subscription under our server, as I am not able to check any services, I am not able to help you currently.
Rahni Verey: is there someone there who can directly access my account and see what i am talking about. Its plainly obvious if you go directly into my account and try to change credit card details. The URL link for this function is missing!
Patel: No.
Patel: To help you on this, the applications must working fine.
Patel: I am sorry for the situation that you facing currently.
Patel: Request you to please try after some time.

Is this the link you have been using? Credit card https://helpx.adobe.com/utilities/credit-card.html

A/R Credit memo for the broken items!!!

Dear Expert,
When we received the return products from customers, sometimes they are broken and cannot return to inventory. Due to issue the A/R Credit memo will bring these broken items returning to the inventory which it is not truth. How could we solve this problem in SAP B1? Thanks in advance.

Hi,
Handling of Return of goods which are damaged needs to be decided based on the business process being followed.
Example : If the damaged goods are of some value and they could be sold off in market for some amount(gain), then you can being back into stock and then book the sale again (for the damaged) and then book the rest as a loss.
Another example can be : If the damaged goods are not to be sold , then you can book the loss directly and can leave the stock to be entered back into the warehouse.
Check which process you follow and based on that you can decide and ask the exact need which can be helped by experts in the forum.
Kind Regards,
Jitin
SAP Business One Forum Team

Very Urgent issue on credit memmo and vendor invoices

HI,
User here has a credit memmo for $ 395 of a vendor.We have received an invoice from this vendor of $ 95 in this week.Next week we will receive invoice for $ 100. Then upcoming week receive another invoice of $200.My question is when we received invoice for $ 95 i would like to make payment and wait for next invoices. But i want bank clearing to happen only after i receive all invoices. How do i keep track of these invoices . If i have hundred's of vendor's this way how to deal with this.Could anyone tell me how to clear these invoices which T.code..
Please help. Thanks in advance.

Point one is u said the vendor has a credit memo of $395 that means you are owing him right.
and lets go to youe example
Partial Payment: vendor is paying some amount now and remaining amount will pay in future
Ex: Vendor has to pay $395
and paying now 95 remaining 300 will pay in future till that 300 display as a open item
Residual payment:
Vendor have to Pay 395 but he is paying 300 means 95 he will not pay then it will go for residual payment.
95 will not show as a open item for that you have to create two accounts
1)Income account
2) Expenses account
for example:
1) You have to pay 4000 but you are paying 3800 means 200 is gain for you
2) You have to receive 4000 but you received 3800 means 200 loss
These two accounts you need assign in Automatic Account assignment:OBXL
Gain account CR side and exp account DR side
In your case it is accepting partial payment because the other amounts remains open items
F-44 is used to clearing of downpayment against open item( since creditmemo is kind of downpayment i.e you owe money to vendor
and ur doing Residual clearing in tcode f-53.
U have to enter the reason codes for the difference amount. check that .
hope this helps you....

Foreign Currency exchange gain & loss

Dear expert,
I have a problem here, need help.
I have made the setting for foreign exchange gain/loss in OB09 and start to use f-28 for incoming payment.
When run the simulation, it gives me 2 lines of exchange gain/loss calculation. 1st line with amount zero (local currency) and 2nd line with the gain/loss amount.
I wonder why I have 2 lines of exchange gain/loss calculation?
Did I did something wrong or miss some specific setting?
Thanks in advance. will assign points

Hi Louis,
Please note the example below and you will understand why two line items are created:
Local currency - USD; foreign currency - GBP
Vendor invoice in foreign currency - 100GBP - Jan (Exchange rate: I GBP=2 USD)
Feb - You valuated the open item (Exchange rate: 1 GBP = 3 USD) with update principle
Entry: Unrealised exchange rate Debit 100 USD
          To Special balance sheet account Credit 100 USD
Payment made in march where the exchange rate is 1 GBP = 3.5 USD
Entry will be:
Vendor debit                               200 USD
Balance sheet account debit        100 USD
Realised exchange rate loss debit 50 USD
To bank                                       350 USD
Are you getting the above entry? If so, then the above scenario will explain your predicament.
Cheers!
Rajesh

SALES Analysis and profit loss statment

Hi All ,
Dear Experts,
My Sales Analysis and profit loss statement Value is deferent . i want to know that which entry show in sales analysis and which entry show in profit loss statment .
Thanks & Regard
AREEBA ALI

Aree,
Both report are different. The sales analysis will use document of sales orders, delivery order, invoice and credit memo.
The P&L use journal entry of invoice and credit memo. Can you be more specific about the different ?
JimM

In migo, post to loss acc.

Hi All
is it possible in migo screen to post like this.
Total PO Value Is : Rs: 100 for Qty:100 , So each Rs:1.00
Stock Acc:              Rs:95
GR/IR Acc:              Rs:100
Any loss Acc:          Rs:5
Regards
Manju

Hi,
If the price control in material master is maintained as moving average price, material will be valuated based on the PO price i.e Rs.100/- The account posting during GR is :
Debit - stock account- 100
Credit - GRIR - 100
If the price control in material master is maintained as standard price as Rs.9.5/ each, material will be valuated based on the price i material master and not based on PO price Rs.100, The account posting during GR is :
Debit Stock account - 95 ( Rs.9.5 x 10 nos)
Debit - Price diff account - 5
Credit GRIR - 100
Please check
Regards
Ram

Config stock qty book as Loss in transit

Sir,
My issue is
Material which is taking stock transfer is non valuated but excisable .
that means we have to see only qty aspect.
Now we are issuing non valuated material from one PlantA to other PlantB
*Plant A Material register show that Issuing of 100 qty.
After one days our another Plant B is receiving 90 qty.
CIN capturning is taken place as 90 qty as material is excisable in Plant B.
In Plant A CIN i.e J1in took place on 100 qty.
Now the issue is that we are creating cenvat payable on 100 qty in Plant A where as in Plant B cenvat receivable on 90 qty.
that means we are liable to pay excise duty on 10 qty on stock transfer.
Again If we see overall stock register 100 qty is issued (As Plant A side) and 90 qty is received ( As Plant B side) .
Hence overall there is shortage of 10 qty as overall companys stock register.
Now we want to configure keeping point of said scenario so that I can book 10 qty as normal loss in transit.
Regards
Pari

Dear Kunal,
90 qty received is not the issue.
Already we are able to receive 90 qty at Plant B side
Issue is taking stock as whole comapany = -100+90 = -10
That is not possible becasue it must be positive or zero.
It is possible only when you are able to pass 10 qty as loss in transit.
Plant A is liable to pay excise duty on 100qty@ 70 = 7000
Plant B can take credit on 90qty @ 70= 6300
That means company as whole Dutypayble = 7000
Dutyreceivable= 6300
Loss as Excise duty on stock transfer= 700
Regards
Pari

Loss of credit

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