Import LC Posting, Back to Back LC Journal Procedure and LC Posting.

Back to Back LC

We all are well known about the procedures of any services given or taken by buyer and seller respectively. Here three types of procedures are maintain of Bangladesh Import Export Business industries. These are-

Export LC

a) By Bill
b) By LC (Letter of Credit)
c) By TT (Telegraphic Transfer or telex transfer)

Si No. ModeBill or B2B LC ProcessBill to B2B LC Process
LFDr. Cr.LFDr. Cr.
01.Bill/PIInventory-Items Name***Inventory-Items Name***
Ref: Buyer NameRef: Buyer Name
OnlyCreditor-Party Name***Creditor-Party Name***
Bill Ref: Bill NumberRef: Bill Number
Porcess
02.PaymentCreditor-Party Name***
Ref: Bill Number
Cash/Bank***No Entry
Ref: Cheque No./ MR No. 
03.LCMaterials In transit***Creditor-Party Name***
False LiabilitiesRef: Buyer NameRef: Bill Number
B2B LC Margin***LC Margin***
Ref:86218041111Ref:86218041111
LC04.PIInventory***
Ref: Buyer NameNo Entry
Materials in Transit***
Ref: Buyer Name
Proces05.BOELC Margin****LC Margin***
actual LiabilitiesRef:86218041111Ref:86218041111
Bills Payable***Bills Payable***
Ref:86218041111
Ref:86218041111
06.PaymentBills Payable***Bills Payable***
Ref:86218041111Ref:86218041111
FCH Bank***FCH Bank***
Ref: DateRef: Date

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