Letters of Credit
- The system allows the registration and follow-up of all letters of credit information such as the letter of credit number - the type of credit - supplier - bank - terms of delivery - method of delivery - method of shipment - date of opening the letter of credit - data of the insurance company - currency - exchange rate - items data - quantities – prices, ....etc.
- The system allows the registration and follow-up of the Proforma Invoices data for each L/C in terms of items and prices.
- The system allows recording letters of credit expenses with its classification.
- The system allows to divide the letters of credit into partial shipments with the entry of the expenses of each shipment separately and the entry of customs and sales tax at the item level.
- The system calculates the cost of each item of letters of credit (or partial shipment) in local currency, as well as calculating the unit cost of the foreign currency in local currency.
- The possibility of automatic evaluation of the goods received notes of the shipment or to be approved in the store with the cost including all expenses.
- The system follows the opened balances of letters of credit.
- The system is linked with the Accounts Payables System, Inventory Control System, and General Ledger System.
Some of the Letter of Credits System Reports:
- Report on open L/C at the supplier level, the currency level, the bank level, or a letter of credit type level.
- A report of the detailed and total expenses for each letter of credit.
- A report on the cost of each item in the L/C in local currency, as well as the total cost of the letters of credit.
- A report of a specific expense at the level of all letters of credit.
- Expenditure report of the letter of credit based on the issuing documents and their dates.
- A report on the total value of the letter of credit in local currency.