Letter of Credit

A letter of credit is the means used to carry some costs or expenses that may have to be paid before the goods are received.

When you import large quantities of materials, you may incur expenses in advance, before receiving them and issuing the invoice, such as shipping or customs clearance fees. In this case, you can create a letter of credit to gather these costs and charge them to it, then allocate them to all the imported materials according to set allocation methods.

On the "Invoices" tab, the program provides a set of tools and operations for defining and viewing letters of credit:

Main Letter of Credit Card

Adds a card named after the main letter of credit you will need when defining letters of credit.

Letter of Credit Expenses and Allocation

Defines the types of costs related to letters of credit, and sets how these expenses are allocated to the materials listed in the invoice rows, so that each material carries its fair share of the costs according to the allocation method used.

Letters of Credit

Enters and views new letters of credit, and sets the types of expenses related to them and how they are allocated to the rows of the invoices linked to the letter of credit.

The window also includes tables listing the invoices and entries linked to the letter of credit, which makes them easier to track and manage.

Chart of Letters of Credit

Shows all the letters of credit defined in the program (main and sub), sorted by code by default, to make it easy to browse, navigate, and carry out the basic operations.