For foreign purchases, we need a Proforma Invoice—is there an option to enter it in the system?
Typically, we first create an LC, where margin (10% of PO), insurance, SWIFT, and other charges are paid through different banks. After receiving the goods (1–2 months later), the remaining 90% (LTR) and C&F charges are settled via bank as a loan. What is correct process in ERPNext and which modules/windows to use?
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Hi
PO- GRN - PI (shipper) and Landed cost voucher is the process and can also be printed as proforma invoice.
PI will also be recording local expenses (destination expenses) as actual.
Create PO with foreign currency for full scope. and then raise PI for all those destination expenses such as customs and C&F and DO charges in local currency. PI will also be recording local expenses (destination expenses) as actual.
After GRN, you must record landed cost for those partial or full shipment received. Landed cost will reverse those actual destination expenses and take them in item valuation.
Hope helps understand overall process.