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Letter of Credit Sage X3 Add-on

Sage X3 ERP Software with Letter of Credit Add-on

International business transactions can be tricky in the Middle East because of challenges like geographical distances, different laws, and communication. To stay safe, companies use letters of credit or bank guarantees. Greytrix Middle East has a distinctive software called the Letter of Credit, a Sage X3 add-on. This solution bolsters transaction security, providing businesses with a reliable framework to confidently navigate the complexities of the Middle Eastern market. This tool allows companies to do business more smoothly and build trust with others. With Greytrix Middle East's expertise and cutting-edge technology, businesses can thrive amidst the unique challenges of the regions, unlocking new avenues for growth and expansion.

Feature of Letter of Credit Add-On for Sage X3

Managing the Life cycle of a Letter of Credit

The Letter of Credit add-on by Greytrix Middle East for Sage X3 is a comprehensive solution that simplifies the entire letter of credit journey, covering everything from documentation to financial tracking. It efficiently handles multiple facets, such as currency, amount, duration, expenses, and cancellation fees, providing a seamless and adequate management system.

Inward and Outward Letter of Credit

Letter of Credit add-on simplifies the import and export processes in Sage X3 ERP. It includes features such as a letter of credit opening, document processing, expense recognition, margin addition, invoice settlement, shipment facility addition, currency tracking, and more.

Report Extraction

Setting up a Letter of Credit is simple. 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, to meet specific requirements.

User Configurable Data Fields

Setting up a Letter of Credit is straightforward. 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 specific requirements.

Bank Guarantee Master

Creating Bank Guarantees is now easier without a Purchase Order. The system allows for expenses and renewal monitoring through a counter mechanism. Additionally, analytical dimensions provide more detail.

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. If closed, multiple transactions can be applied to a single bank guarantee.
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Benefits of Letter of Credit Add-On for Sage X3

Guaranteeing accurate data alignment with requisite documents while minimizing redundancy.

Tracking pivotal events, such as the latest shipment and expiry dates, is essential for proactive management.

Upon receipt of inventory, compute and distribute letter of credit expenses and recalculate cost prices.

Generating comprehensive cost reports for Letters of Credit.

Simplifying numerous transactions with ease through a simple process.

Seamlessly integrating automated backend accounting for operational efficiency.

Automating Purchase Invoices (PI) and invoices for a smoother financial workflow.

Implementing user access-controlled functions to ensure secure and tailored operations.

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