Financials for India - EBS (MOSC)

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Advance adjustments in Letter of Credit.

edited Aug 8, 2013 10:01PM in Financials for India - EBS (MOSC) 1 commentAnswered ✓
 Hi Experts,
Have requirement related to Letter of Credit. The scenarios are explained below:

Scenario 1
-------------

We have received an Export Order of say Rs. 100000/- on agreement of 20% advance i.e. Rs. 20000/- within LC.

Irrevocable LC is opened for Rs. 100000/- and supplier has to withdraw advance amount under LC. To claim advance amount supplier raises an Invoice with Bank.

Finally the LC balance is Rs 80000/- for material dispatches.

How to create LC for Rs. 100000/- and adjust the advance amount in Oracle or is there any manual provision to enter transactions against LC in LC master form.

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