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Dear All,
Is it possible to create Letter of credit after sales invoice is posted.
If yes, Please me know the steps.
Thanks in advance.
Regards
Umesh
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Hi Umesh Kumar,
The idea of LoC is to secure your trade and ensure that you get the money for your products.
If you already ship your goods and write the invoice, why do you need a LoC then?
Best regards,
Ludwig
Dear Ludwig,
Thanks for your reply.
This is one of my client requirement. They sell huge amount of transaction and if customer fails to pay with in due date. Customer will rise the LC. This is their current process. Please suggest.
Thanks,
Hi Umesh,
From what I know about LC this process might need to be changed because I cannot see a point in creating a LC if the goods are already shipped and the customer fails to pay. The idea of the LC is to have a kind of guarantee from a bank that the bank pays if the customer fails to pay.
I would suggest that you get into discussion with your colleagues and clarify details of this process.
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