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Set up bank facilities and posting profiles for letters of guarantee

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This task creates a Bank facility and posting profile that is needed to process a letter of guarantee.

This task uses the USMF demo company.

General ledger parameter

  1. Go to Cash and bank management > Setup > Cash and bank management parameters.
  2. Expand the Bank document section.
  3. Select the Enable letter of guarantee option.
  4. In the Transaction journal field, click the drop-down button to open the lookup.
  5. In the list, find and select the desired record.
  6. In the list, click the link in the selected row.
  7. Click the Number sequences tab.
    • Define number sequence code for Letter of guarantee number and Letter of guarantee transaction references
  8. Click Save.
  9. Close the page.

Create Bank facility

  1. Go to Cash and bank management > Setup > Bank facilities.
  2. Click New.
  3. In the Facility group field, enter the bank facility group name for the letter of guarantee transaction.
  4. In the Description field, type a value.
  5. Click Save.
  6. Click the Facility types tab.
  7. Click New.
  8. In the Facility type field, enter the name of the bank facility type that is related to the bank facility agreement.
  9. In the Description field, type a value.
  10. In the Facility group field, click the drop-down button to open the lookup.
  11. In the list, find and select the desired record.
  12. In the list, click the link in the selected row.
  13. In the Facility nature field, select an option.
  14. Click Save.
  15. Close the page.

Bank posting profile

  1. Go to Cash and bank management > Setup > Bank documents posting profile.
  2. Click New.
  3. In the Account/Group number field, click the drop-down button to open the lookup.
  4. In the list, find and select the desired record.
  5. In the list, click the link in the selected row.
  6. In the Settle account field, select the main account for settlement.
  7. In the Charges account field, select the account for expense transactions.
  8. In the Margin account field, select the account for the margin transaction.
  9. In the Liquidation account field, select the liquidation account for the letter of guarantee transaction.
  10. Click Save.
  11. Close the page.