Letter Of credit!

This forum is to discuss different features/issues of Oracle Financials modules ( GL - General Ledger, AP - Accounts Payable, AR - Accounts Receivable, FA - Fixed Assets & CM - Cash Management ).
Post Reply
sandeepyam
Posts: 11
Joined: Wed Jun 25, 2008 6:33 am
Location: India

Letter Of credit!

Post by sandeepyam »

How is letter of credit created/entered in accounts payables... Help would be appreciated...

thanks
Sandeep
Top
oracleapps1983
Posts: 256
Joined: Thu Aug 07, 2008 3:48 am
Location: USA

Post by oracleapps1983 »

Hi Sandeep can you What is Letter of Credit and How it is
Top
sandeepyam
Posts: 11
Joined: Wed Jun 25, 2008 6:33 am
Location: India

Post by sandeepyam »

X sells goods to y... Therefore Y is a customer of X. There are instances where the customers('Y') bank gives a guarantee to X'x bank, of paying the cost of shipment if "Y" is unable to pay.

This is called Letter Of credit..

am told that for this to be integrated into Payables, a seperate submenu/function is added to AP menu... am yet to explore this concept..

Experts pls comment...

Regards
Sandeep
Top
Post Reply

Return to “Financials (GL, AP, AR, FA & CM)”



Who is online

Users browsing this forum: Google [Bot] and 20 guests