1. Letter of Credit User Guide
  2. Annexure A - Accounting Entries for LCs
  3. Event-wise Accounting Entries
  4. CLOS: Closure of an LC / Guarantee

14.2.3 CLOS: Closure of an LC / Guarantee

Liability

Table 14-26 Accounting Entries

Role Amount Tag Dr/Cr
LC_OCU LIAB_OS_AMT Cr
LC_OCU_OFFSET LIAB_OS_AMT Dr
LC_OCU ADV_LIAB_OS_AMT Cr
LC_OCU_OFFSET ADV_LIAB_OS_AMT Dr
LC_CNF CNF_LIAB_OS_AMT Cr
LC_CNF_OFFSET CNF_LIAB_OS_AMT Dr

Table 14-27 Accounting Entries

Role Amount Tag Dr/Cr
COLL_CUST_ACC COLLAMT_OS_S01 Cr
COLL_CUST_ACC COLLAMT_OS_S02 Cr
LC_COLL_ACCT COLLAMT_OSEQ Dr
Collateral

Booking (From Customer Account)

Table 14-28 Accounting Entries

Role Amount Tag Dr/Cr
COLL_CUST_ACC COLLAMT_OS Cr
LC_COLL_ACCT COLLAMT_OSEQ Dr
Booking (From Customer and OBP account)

Table 14-29 Accounting Entries

Role Amount Tag Dr/Cr
LCCOLL_INT_ACCT COLLAMT_OS Dr
COLL_CUST_ACC COLLAMT_OSEQ Cr
LCCOLL_INT_ACCT COLLAMT_OS_OBP Dr
COLL_OBP_ACC COLLAMT_OSEQ_OBP Cr
When the Export LC is closed, the amount will be reduced proportionately from Confirmed portion and Unconfirmed portion.

Table 14-30 Accounting Entries

Dr/Cr Account role code Amount Tag LCY Amount Description
Dr LC_OCU_OFFSET(Unutilized Credit Offset) UCNF_LIAB_OS_AMT Unconfirmed LC Amount
Cr LC_OCU(Outstanding Credit Unutilized) UCNF_LIAB_OS_AMT Unconfirmed LC Amount
Dr LC_CNF_OFF(Confirmation of LC Offset) CNF_LIAB_OS_AMT Confirmed LC Amount
Cr LC_CNF (Confirmation of LC) CNF_LIAB_OS_AMT Confirmed LC Amount

Parent topic: Event-wise Accounting Entries