Hi all !
I am new to this forum. I recenty joined my new job as an Accountant in a trading company in Purchasing department. Now for some vendors, L/C is used.
With PO, an LC is opened for the vendor. So here is my confusion. What entries are made behind the scenes in Navision for PO with LC involved in it ?
I would be thankful for your help.
Welcome to DUG!!!
I would suggest you try some entries on test server and check it out in G/L Entries
You will get the exact answer.
Hi Amol !
Thank you for your reply. What I have done so far is that going to Posted Documents, then G/L Registers, then the purchasing manager’s ID selected, I pressed General Ledger at the top. It shows the journal entry.
L/C No. 12458…Cr
(Each time, a new LC is opened, it is given a special number)
I think when an LC is opened, the bank pays the vendor at the same time and then the bank becomes our liability and we have to pay the bank.
This is my first experience with an LC transaction and Navision.
Thank you for your help.