LOC Payments

In this topic, you will learn how to apply letter of credit payments.

Steps:

1. Begin by navigating to the Create Worksheet page.

    

   Click the Main Menu button.

   Step 1

2. Click the Accounts Receivable menu.

   Step 2

3. Click the Payments menu.

   Step 3

4. Click the Apply Payments menu.

   Step 4

5. Click the Create Worksheet menu.

   Step 5

6. Click the Search button.

   Step 6

7. Click the Reference Criteria list.

   Step 7

8. Click the Specific Value list item.

   Step 8

9. Click the Look up Qual Code (Alt+5) button.

   Step 9

10. Click the Letter of Credit link.

    Step 10

11. Click the Look up Reference (Alt+5) button.

    Step 11

12. Click the CON-000001-LOC link.

    Step 12

13. Use the scrollbar to view additional information on the page.

    Step 13

14. Click the Build button.

    Step 14

15. Click the Save button.

    Step 15

16. Click the Worksheet Action link.

    Step 16

17. Click the Action list.

    Step 17

18. Click the Batch Standard list item.

    Step 18

19. Click the OK button.

    Step 19

20. Run AR Update to post the payment to the customer account and close the open AR Balance.

    Step 20

21. Click the Accounts Receivable button.

    Step 21

22. Click the Receivables Update menu.

    Step 22

23. Click the Request Receivables Update menu.

    Step 23

24. Click the Search button.

    Step 24

25. Click the Choose a date (Alt+5) button.

    Step 25

26. Click the Current Date link.

    Step 26

27. Click the Run button.

    Step 27

28. Click the OK button.

    Step 28

29. Click the Process Monitor link.

    Step 29

30. Click the Refresh button.

    Step 30

31. Continue to click the Refresh button until the Run Status is "Success" and the Distribution Status is "Posted".

    Step 31

32. Click the Accounts Receivable button.

    Step 32

33. Click the Collections Workbench menu.

    Step 33

34. Click the Look up SetID (Alt+5) button.

    Step 34

35. Click the USCSP link.

    Step 35

36. Click in the Customer field.

    Step 36

37. Enter the desired information into the Customer field.

     

    Enter "SPN%632".

    Step 37

38. Click the Look up Customer (Alt+5) button.

    Step 38

39. Click the SPN0000632 link.

    Step 39

40. Click the Search button.

    Step 40

41. Click the Items tab.

    Step 41

42. Click the Status list.

    Step 42

43. Click the Closed list item.

    Step 43

44. Click the GO button.

    Step 44

45. Use the scrollbar to view additional information on the page.

    Step 45

46. Click the CON-000001-LOC link.

    Step 46

47. Click the Item Activity tab.

    Step 47

48. Verify that the Entry Type is "PY".

    Step 48

49. Click the OK button.

    Step 49

50. Click the Home link to begin a new navigation.

    Step 50

Congratulations, you have successfully learned how to apply letter of credit payments.

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