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Settlement of Sales Order invoice ( LC) with Bill of Exchange

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Posted on by zubairalam

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Hi Experts,

Can I settle an Invoice, generated from Letter of credit's sales order, with the bill of exchange in Dynamics 365?

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Ludwig Reinhard Microsoft Employee on at

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Hi zubairalam,

I never had this kind of combination because in my home country we hardly use bills of exchanges. Yet, as bills of exchanges are just an instrument for making payment I cannot see a reason why this should not work.

Do you experience any issues in this process?

Best regards,

Ludwig

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zubairalam 151 on at

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Below is the process that I am following (Might be I am missing some steps)

1. Created Sales order with Letter of Credit

2. Prepared and confirmed the sales order

3. Dispatched the goods with shipment

4. Invoiced the goods with shipment)

The financial voucher for invoice is like;

Accounts Receivable -Debit

Sales- Credit

When I submitted all LC documents to bank I need to transfer this Account Receivable balance into LC Receivable, and I can achieve this one only be the help of Bill of exchange.

So, I created and posted the “Draft Bill of Exchange”, by this I transferred my customer balance from AR to LC Receivable.

After this I have to post remittance journal, but I am unable to do so. System is giving me the error that “LC is still unconfirmed and cannot post journal”

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Ludwig Reinhard Microsoft Employee on at

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Hi Zubair Alam,

The LC process is a bit different.

Can you please have a look at the following site and try to follow/replicate the steps

technet.microsoft.com/.../hh242208.aspx

Best regards,

Ludwig

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zubairalam 151 on at

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Hi Ludwig,

I ran the LC process as per Dynamics standards, and no issue is there.

I am stuck on Bill of exchange (settling sales order invoice with LC) and getting bellow error, when I am trying to post the remittance journal.

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Ludwig Reinhard Microsoft Employee on at

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Hi Zubair Alam,

Have you double checked that the LC is confirmed in the bank module? Can you actually identify the LC document from there?

Best regards,

Ludwig

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zubairalam 151 on at

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The status of Letter of credit before posting the "Drat bill of exchange."

The status of Letter of credit after posting the "Draft bill of exchange."

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