Letter of Credit (Sage X3 Add-on) - Round image

Sage X3 - Letter of Credit Addon

International business transactions are risky due to distance, legal differences, and lack of communication. Disputes arise when buyers don't pay, or importers don't receive goods. A letter of credit or bank guarantee provides assurance. Greytrix Africa Letter of Credit Sage X3 add-on improves transaction security.

Feature of Letter of Credit Addon for Sage X3

Managing the Life cycle of a Letter of Credit

Greytrix Africa’s Letter of Credit add-on for Sage X3 streamlines the entire letter of credit process, from documentation to financial tracking. It manages various aspects, including currency, amount, duration, expenses, and cancellation fees.

Inward and Outward Letter of Credit

The Greytrix Letter of Credit add-on simplifies Sage X3 ERP software import processing. It offers Letter of credit opening, document processing, expense recognition, margin addition, invoice settlement, shipment facility addition, and currency tracking.

Report Extraction

Sage X3 Letter of Credit offers reports on key performance metrics like dates and transaction costs. This helps assess third-party entities like forwarders, carriers, and banks. Also, site draft reports show detailed inward and outward LC data.

User Configurable Data Fields

Setting up a Letter of Credit is a straightforward process. The setup screen offers customizable data fields such as LC/BG Journal, LC/BG Journal Entry Type, LC Supplier, LC Account, and Contra Bank Guarantee Account that can be tailored to meet specific requirements.

Bank Guarantee Master

Bank Guarantees can be created without a Purchase Order. You can add expenses and keep track of renewals using a counter. In addition, analytical dimensions can also be applied.

Bank Guarantee Transaction

This addon has two types of Bank Guarantee transactions: Normal and Expense. Expense transactions affect the expense account and can be adjusted up or down. If a bank guarantee is not closed, it is possible to apply multiple transactions to it.
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Benefits of Letter of Credit Addon for Sage X3

Ensuring precise mapping of data to the necessary documents and minimizing data duplication.

Monitor critical events such as the latest shipment and expiration dates.

When inventory is received, the expenditure of the letters of credit is calculated and distributed, and cost prices are recalculated accordingly.

Extracting the cost report of LC.

Easily carry out multiple transactions through a simple process.

Integration of automated backend accounting.

Automated PI (Purchase Invoices) and Invoices.

User access controlled functions

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