Change to a new Fiscal Year

FIN (Finance), FIN General Ledger, MM (Materials Management), SAP ERP

Fiscal Year Change We live in a dynamic world today that is ever changing. Companies are acquiring other businesses or are being acquired. All of these acquisitions present challenges for all companies involved. One key change that frequently occurs is when the parties involved have different fiscal years. This blog will discuss a change that […]

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Letter of Credit/Import Process (Issuance) – Trade Finance

FIN General Ledger, FIN Treasury

1. Letter of Credit (LC): A letter of credit or LC is a document issued by the importer’s bank (opening bank) on importer’s behalf. Through its issuance, the exporter is assured that the issuing bank will make a payment to the exporter for the international trade conducted between both the parties. The importer is the […]

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