A company uses Dynamics 365 Finance. The company wants to configure the ledger entries for importing letters of credit. You need to identify which business process to configure. Which business process

Question

Exhibit

Options

• ASet up settlements.
• BManage letters of guarantee.
• CReconcile bank accounts.
• DDeposit bank funds.

• A
  2% (1)
• B
  84% (43)
• C
  4% (2)
• D
  10% (5)

Explanation

Activate the letter of credit as a bank document Activate the letter of credit as a bank document before you initiate transactions that involve letters 1. Go to Cash and Bank Management > Setup > Cash and Bank Management parameters. 2. Expand the Bank document FastTab. 3. Set the Enable import letter of credit option to Yes to activate the letter of credit. 4. Close the page to save your changes. When the Bank document type field is set as Letter of credit, the purchase order is displayed in the list of letters of credit in the Cash and bank management module. Note: Letters of credit are bank documents that are commonly used for the purchase and sale of goods across international borders. Letters of credit are used for international transactions to ensure that payments will be made. A letter of credit is an agreement that is issued by a bank, in which the bank agrees to ensure payment on behalf of the buyer, if the terms of the agreement between the buyer and seller are met. Note that a letter of credit is also referred to as a documentary credit (DC). https://learn.microsoft.com/en-us/training/modules/configure-letters-credit-guarantees-dyn365- finance/4-configure

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