The Letter of Credit (LC) number description | Details Information of LC Number.

The Letter of Credit (LC) Number description and Details Information of LC Numbe  are most important number of any kind of materials import and export or locally. So, which think or information are behind in LC Number. The below information are for your kind consideration and the video also for your betterment.

Letter of Credit (LC) Format:

LC:   1945                15        04            5594

Bank Code            Year        Mode    LC NO.

Mode:
I. Cash- 01/05
II. Foreign – 06
III. Local – 04
IV. EPZ – 12
V. TT/FDD – 09/15
VI. Others

Bank:

945-Exim
862-IBBL

539-PBL

POSTING PROCESS:

Excluding Local LC Need to all LC Posting in tally.
Local LC Code: 04

LC INFORMATION:

F20: L/C NO
F50: Applicant
F59: Beneficiary (Party Name)
F32B: Currency
F45A: Description Of Goods
F47A: Additional Condition { F: Sales Contract: buyer}

Sequence of LC & Stock Posting:

1. At First All LC Posting (Except Local LC, Local LC Code: 04)
2. All PI Posting (Except Local LC PI)
3. Bill Of Exchange Posting (Only Local LC & PI)