LC or Letter of Credit plays an important role in business activities. LC management includes various processes. ERP software for LC management module automates all the procedures of LC easily & orders are created for products and services. Different types of LC depending on client’s proposal are managed for both import and export depending on their business. Creation of LC documents from invoices for given period.
ERP import module records all the imported budget of goods and commodities & follows up its execution. Currency conversion is easily completed by LC management module. Calculating and distributing of LC’s expenses on the items. Electronic and digital signatures can be added with the help of ERP for LC management. Export LC and its relevant document generation is also a feature in LC management module.
Tracking documentation and financial information efficiently and accurately of LCs are the vital business processes.
LC document entry having all details and linking facility of LC with Sales Order / Purchase Order
Auto allocation of sales / Purchase amounts in LC for listing of pending or allocated Amount of LC
Creation of LC document from invoices for given period
Auto bank vouchers having calculated interest amount and bank charges
Auto Reversal of bank vouchers by JVs at the time of clearing the LC
Purchase Document confirmation for LC
Payment Confirmation against discounting document
Forex fluctuation capturing
Single or Multiple accounting entries against single discounting document
Multiple Buyers Credit linked with single discounting document
