How to track Letter of credit in FI Module.

[Former Member]

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

[Former Member]

Hi,

As far as my understanding this can be processed through Bill of Exchange in FI

SAP menu >> Accounting >> Account receivables >> Document entry >> Bill of exchange

http://help.sap.com/saphelp_470/helpdata/en/01/a9c9ea455711d182b40000e829fbfe/frameset.htm

Kapil

[Former Member]

Hi Kapil,

Thanks for your quick response. Please share the above mentioned process by you in a detailed manner.

For eg. how can we track LC from B\R transaction.

I reckon that will surely help us in solving our problem.

Thank you.

Edited by: jayfanse on Jun 11, 2011 2:58 PM

[Former Member]

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