title | description | author | ms.author | ms.topic | ms.date | ms.custom | ms.reviewer | audience | ms.search.region | ms.search.validFrom | ms.search.form | ms.dyn365.ops.version |
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Set up bank facilities and posting profiles for letter of credit |
Learn how to create a Bank facility and posting profile required to process Letters of credit. |
music727 |
mibeinar |
how-to |
06/16/2024 |
twheeloc |
Application User |
Global |
2016-06-30 |
BankParameters, DefaultDashboard, BankDocumentSetup, BankDocumentPosting |
Version 7.0.0 |
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This article describes how to set up bank facilities and posting profiles which are required to process letters of credit.
- To enable import and export of letter of credit, go to Cash and bank management > Setup > Cash and bank management parameters.
- Expand the Bank document section.
- Select Yes for the Enable import letter of credit option.
- Select Yes the Enable export letter of credit option.
- Click Save.
- To create a bank facility, go to Cash and bank management > Setup > Bank facilities.
- Click New.
- In the Facility group field, enter the bank facility group name.
- In the Description field, enter the bank facility group description.
- Click Save.
- Click the Facility types tab.
- Click New.
- In the Facility type field, enter a unique code.
- In the Description field, type a value.
- In the Facility group field, click the drop-down button to open the lookup and select a desired facility group record.
- In the Facility nature field, select the nature of the bank facility.
- Click Save.
- To configure a bank posting profile, go to Cash and bank management > Setup > Bank documents posting profile.
- Click New.
- In the Account code field, select Group to define a posting profile for a facility group, or Table to create a posting profile for a specific facility type.
- In the Account/Group number field, click the drop-down button to see the lookup values and select required record.
- Select the main account for settlement in the Settle account field. This account is used when calculating cash flow forecast.
- In the Charges account field, select the account for expense transactions.
- In the Margin account field, select the account for margin transactions. This account is debited when the opening margin is posted and credited when the payment is posted.
- Click Save.
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