Export LC

PrismERP's Export LC Management System is designed to simplify and streamline the management of export Letters of Credit (LCs). Tailored for export-oriented businesses, it ensures efficient tracking of document statuses and financial processes. With a user-friendly interface, the system enables quick proficiency and seamless handling of export LCs.
PrismERP enables businesses to maintain compliance and ensure smooth export transactions by offering a robust, structured process for managing Export LCs, which serve as a bank's irrevocable payment guarantee to exporters, contingent upon meeting specified terms.

Add Receive Work Order

The Receive Work Order process builds upon the functionality of the Send Work Order, adding a few enhanced options to streamline workflow management. With this feature, users can efficiently receive and manage work orders while maintaining a seamless operational process.
Export LC Receive Work Order
This intuitive process ensures smooth handling of export-related documentation and work order management while maintaining operational efficiency.

Here’s a step-by-step guide for processing the Receive Work Order with the required fields:

• Order No: Input the work order number to enable tracking and identification of the order.
• Buyer: Enter the name of the buyer associated with the work order.
• Supplier: Specify the name of the supplying company involved in the transaction.
• Currency: Assign the appropriate currency for the transaction to ensure accurate financial records.
• Entry, Order & Tentative Delivery Date:
  • Entry Date: The date when the work order was created.
  • Order Date: The date the order was placed.
  • Tentative Delivery Date: The expected date for delivery.
• Branch: Select the branch responsible for managing this work order.
• Brand: Specify the brand of the product that the importer will receive from the exporter.
• Product: Provide the name of the product being exported.
• Quantity: Indicate the amount of the product to be exported.

Add Product Button:

After entering all product details, click the "Add Product" button.
This action will automatically:

• Transfer the product details into the Product Information Box.
• Calculate and display the Total Amount for the work order.

Receive Work Order List

List page shows all the receive work order list that are being created in the application.

The Receive Work Order List Page offers a user-friendly interface to manage and track all received work orders effectively.

Key Features:

• Search and Filter Options: Easily locate specific work orders using the following fields:
  • WO No: Work Order Number.
  • Supplier: Name of the supplier.
  • From Date and To Date: Date range for filtering work orders.
• Manage Order Status: Update and monitor the status of work orders directly from the list page.
  This intuitive interface simplifies the management of received work orders, ensuring efficient tracking and operational control.

Send Proforma Invoice

After work order approval, you have to send a proforma invoice.
Navigation to Add Send PI.

Fields to Fill:

• PI Number: Enter the unique Proforma Invoice number for tracking.
• PI Date: Specify the date of the Proforma Invoice.
• Buyer: Provide the name of the buyer.
• Branch: Select the operational branch managing the invoice.
• Advising Bank: Enter the advising bank details.
• Currency: Specify the currency for the transaction.
• Expected LC Open Date: Provide the expected date for the LC to be opened.
• Payment Terms: Mention the agreed payment terms.
• Partial Shipment: Indicate whether partial shipment is allowed (Yes/No).
• Port of Shipment: Enter the port from which the shipment will be dispatched.
• Destination Port: Specify the destination port for the shipment.

Order Information:

Select the desired Work Order Number from the list. Once selected, the corresponding Product Information will automatically load into the Product Grid Information section.

The Send Proforma Invoice feature functions in a similar manner to the Receive Proforma Invoice process, with the key difference being that this operation is performed from the exporter to the importer within the system.

Send Proforma Invoice List

List page shows all the send proforma invoice list that are being created in the application.

The Send Proforma Invoice List Page provides a user-friendly interface for managing all send proforma invoices.

Key Features:

• Search fields like PI no, buyer, from date, to date, Branch advising bank.
• From the list page, you can manage the order status.

Add Export LC

Export LC Management comes up with the similar window as of Import LC with some slight changes in the window. The screenshot is given below for better understanding of how to add Export LC.
Add Export LC

The Export LC feature within PrismERP allows for comprehensive tracking and management of export Letters of Credit (LCs). This structured process ensures seamless communication between exporters, banks, and buyers, optimizing the management of financial transactions and product shipments.

Fields to Fill for Export LC:

• LC Type: Specify the type of LC (e.g., Local, Foreign, EPZ).
• LC No: Enter the unique LC number generated for tracking the export transaction.
• S/C No: Input the Sales Contract Number.
• Supplier: Enter the name of the supplier company involved in the export transaction.
• Buyer: Specify the name of the buyer (importer).
• Indent Agent: Provide the name of the indent agent (optional) through which the Export LC will occur.
• Applicant Bank Name: Enter the name of the bank of the applicant (exporter).
• LC Product Type: Indicate the type of LC product being used.
• LC Tolerance: Specify the percentage amount of loan value the bank will provide to the importer.
• Margin: Input the marginal value for the LC.
• Branch: Assign the operational branch for this LC.
• Opening, Expiry & Shipment Expiry Date: Provide the opening date, expiry date, and shipment expiry date for the LC.
• Advising Bank: Enter the advising bank of the importer.
• Payment Terms: Specify the terms and conditions for payment (e.g., time draft, or other methods).
• Tenor (Days): Input the tentative number of days for shipping the goods.
• Partial Shipment: Indicate whether partial shipment is allowed (optional).
• Transhipment: Specify the person or agent responsible for the transshipment (optional).
• Currency: Select the currency under which the LC is operating.
• CNF (Clearance & Forwarding Agent): Enter the details of the clearing and forwarding agent handling the shipment.

Item Information (Indent Filter & PI Number):

• Indent & PI Number: Select the indent and proforma invoice (PI) numbers. Click on the Add button to link the PI number to the Export LC. Once added, the product details will appear in the Product Information Window.

Product Information Window:

Here, you will provide the details related to the product associated with the Export LC:

• Product Name: The name of the product being exported.
• Description: A brief description of the product.
• LC Unit: The unit of measurement for the product.
• Quantity: The quantity of the product being exported.
• Total LC Cost: The total cost of the products listed in the LC.

Export LC List

List page shows all the Export LCs that are being created in the application.

The Export LCs List Page provides a user-friendly interface for managing all Export LCs.

Key Features:

• Search fields like PI no, LC No, Buyer, from date, to date.
• From the list page, you can manage the order status.

Export LC Details Page

The Export LC Details Page in PrismERP provides a comprehensive view of all the crucial details related to an export letter of credit (LC). This centralized interface allows users to easily manage and track all aspects of the export transaction.

Key Features of the Export LC Details Page:

Overview Information:

Displays essential details like LC No, Buyer, LC Type, LC Amount, and Exchange Rate.

Tabs for Detailed Information:

Users can navigate through various tabs to access specific information related to the export LC:

• Order Info: Displays details about the orders linked to the Export LC, including product information, quantities, and other related details.
• PI (Proforma Invoice): Access the linked proforma invoice, which contains the terms of sale, pricing, and shipment details.
• Shipment Schedule: Shows the tentative and final shipment dates, delivery locations, and status of the shipment.
• Commercial Documents: Provides details of all commercial documents related to the export LC, including packing lists, certificates, and other required paperwork.
• Invoice: Displays the invoicing details for the transaction, allowing users to track billed amounts and payment terms.
• BTB (Back to Back) LCs: If there are any BTB LCs associated with the Export LC, they can be easily managed and tracked from this tab. BTB LCs provide an additional layer of financial security for exporters and can be managed seamlessly within the system.
• Deliveries: Tracks the delivery status of goods linked to the Export LC, ensuring all goods are shipped according to the specified terms.
• Vouchers: Provides detailed information regarding any vouchers linked to the Export LC, including payment records and receipts.
• Expenses: Displays all expenses associated with the export transaction, helping to monitor and control costs.

Add Commercial Invoice

A commercial invoice is a commercial document that is used mostly in international trade transactions. It is a commercial document required by customs to determine the true value of the imported goods, for assessment of duties and taxes.

Although there is no single, universal format for commercial invoices, PrismERP allows you to create a comprehensive commercial invoice that captures all the essential details for international trade transactions. Here’s what should be included:

• LC Number: The LC number under which the transaction is taking place, ensuring it links with the letter of credit.
• Commercial Invoice Number: The unique number generated by PrismERP to track the commercial invoice in the system.
• Commercial Invoice Date: The date when the commercial invoice is issued.
• B/L No and Date: The Bill of Lading number and its issue date, providing shipping details.
• Bill of Entry No and Date: The Bill of Entry number and date, required for customs clearance.
• Estimated Departure Date & Port: The expected date of departure and the port of departure.
• Estimated Arrival Date: The expected date of arrival at the destination port.
• Shipping Line: The name of the shipping line handling the transportation of goods.
• Product Information: Details about the goods being sold, including product names, unit costs, quantities, etc.
• Filter Indent/PI: Allows you to filter and select the type of document being used (Indent or Proforma Invoice).
• Select Indent/PI: Select the relevant order number corresponding to the indent or proforma invoice.

Commercial Invoices List

Need to accept the commercial invoice then create the ELI (Export LC Invoice) auto. Like as below.

The Export LC Invoice List Page provides a user-friendly interface for managing all Export LC Invoices.

Key Features:

• Search fields like PI no, LC No, Buyer, from date, to date.
• From the list page, you can manage the order status.

Add Export Invoice

After accepting Commercial Invoice, an export invoice will be generated like a sale invoice with proper accounting. When products are dispatched, a delivery entry can be created from this invoice to update the inventory.