Saudi LC Statement Management

This module provides a complete solution to manage Letter of Credit (LC) Statements in Odoo. It enables organizations to efficiently control LC lifecycle operations including issuance, submission, purchase linkage, insurance processing, billing, payments, and financial tracking.

The system integrates directly with Purchase Orders, Vendor Bills, and Accounting modules, ensuring accurate financial monitoring and operational control for import/export and procurement activities.

With this module, users can easily manage LC transactions, monitor outstanding liabilities, track insurance approvals, and view real-time financial summaries through an interactive dashboard.

Module Supports Both Enterprise / Community Edition

Module Features

• Complete Letter of Credit lifecycle management
• Link multiple Purchase Orders to a single LC
• Automatic financial calculations (Total, Paid, Outstanding)
• Insurance workflow management and approval process
• Real-time dashboard with LC financial summary
• Multi-currency support with exchange rate tracking
• Vendor bill integration and payment monitoring
• Secure workflow validation and compliance controls
• User responsibility tracking
• Fully compatible with modern Odoo versions

LC Workflow States

• Draft
• Form Submitted
• Closed
• Cancelled

The system enforces business rules to ensure proper validation before moving between workflow stages.

System Workflow (Step-by-Step)

1. Create LC Statement
   User creates a new LC in Draft state and enters Supplier, LC Number, Accounts, Issue Date, and Expiry Date.
2. Select Purchase Orders
   User links one or more confirmed Purchase Orders related to the selected supplier.
3. Submit LC Form
   User clicks Submitted button. System validates required fields and changes state from Draft to Form Submitted.
4. Insurance Processing (If Required)
   User enters Insurance Number and uploads Insurance Certificate. System automatically sets Insurance Status to Under Process.
5. Approve Insurance
   Authorized user clicks Approve Insurance button. System changes Insurance Status to Approved.
6. Track Vendor Bills and Payments
   System automatically calculates Total LC Amount, Billed Amount, Paid Amount, and Outstanding Amount based on Vendor Bills.
7. Close LC
   User clicks Close LC. System validates that insurance is approved (if required) before moving LC to Closed state.
8. Reset Operations (Administrator Only)
   • Reset to Form Submitted — changes state from Closed to Form Submitted.
   • Reset to Draft — clears insurance details and returns LC to Draft state.
9. Cancel LC
   User can cancel LC only in Draft state. System clears linked Purchase Orders and sets state to Cancelled.

How It Works

1. User creates a new LC Statement.
2. Select Supplier and define LC details.
3. Link Purchase Orders to the LC.
4. System calculates total LC amount automatically.
5. Upload insurance documents if required.
6. Track vendor bills and payments.
7. Monitor outstanding balances in the dashboard.
8. Close the LC after validation and approval.

Usage Instructions

1. Install the module.
2. Go to Purchases.
3. Open LC Statements.
4. Create a new LC record.
5. Select supplier and purchase orders.
6. Upload insurance details if required.
7. Submit the LC form.
8. Monitor financial status from dashboard.

Key Benefits

• Centralized LC management
• Accurate financial tracking
• Real-time outstanding balance visibility
• Improved compliance and document control
• Automated workflow validation
• Better procurement and finance coordination

Dashboard Overview

The interactive dashboard provides real-time insights including:

• Total LC Amount
• Total Paid Amount
• Total Billed Amount
• Total Outstanding Amount
• Draft / Open / Closed LC counts
• Insurance status tracking
• My LC monitoring

Advanced Features

• Dynamic dashboard filtering
• SQL-based financial aggregation
• Automatic currency conversion
• Foreign currency rate tracking
• Insurance approval workflow automation
• Real-time financial summary widgets
• Purchase and billing integration
• Data validation and error prevention

Security & Stability

• No modification of Odoo core modules
• Uses standard Odoo inheritance
• Secure workflow validation rules
• Prevents invalid LC closure
• Mandatory document verification
• Safe for production environments

Target Users

• Procurement Teams
• Finance Departments
• Import / Export Companies
• Manufacturing Companies
• Trading Companies
• Supply Chain Managers
• Accounts Payable Teams

Screenshots & Functional Flow

This section demonstrates the complete operational flow of the LC Statement module from configuration to closure. Each screenshot represents a real system step aligned with the business workflow.

1. Security Groups Configuration

LC user roles are configured to control permissions and responsibilities within the system.

• LC Administrator — Full control including reset operations
• LC User — Operational access for daily LC processing
• LC View Only — Read-only access

2. LC Menu and Dashboard

The LC module is accessible from the Purchase menu. The dashboard displays all LC records with status indicators such as Draft, Submitted, Closed, and Cancelled.

• Users can open or manage LC records from this screen
• Status badges provide quick visibility of LC lifecycle stage

3. Draft Stage — Supplier and Purchase Order Validation

During the Draft stage, the system ensures data integrity by restricting selections:

• Only suppliers with confirmed Purchase Orders are displayed
• Only Purchase Orders related to the selected supplier are available
• Prevents incorrect supplier and PO combinations

4. LC Submission

Once the LC is submitted, the system locks critical information to maintain financial control.

• Core LC details become restricted
• Users can continue linking additional Purchase Orders if required
• System transitions LC from Draft to Form Submitted

5. Insurance Processing

If insurance is required, the system automatically manages the insurance workflow.

• User enters Insurance Number
• User uploads Insurance Certificate
• Insurance Status automatically changes to Under Process
• Prevents manual status manipulation

6. Insurance Approval Confirmation

The system requires confirmation before approving insurance to ensure process accountability.

• Approval action is logged
• Status changes from Under Process to Approved
• Prevents accidental approval

7. LC Closure

After insurance approval and financial completion, the LC can be closed.

• LC becomes fully locked
• No further edits are allowed
• Ensures financial and operational integrity

8. Reset Operations (Administrator Only)

Reset functionality is restricted to LC Administrators to maintain governance and audit control.

• Reset to Form — Reopens a closed LC
• Reset to Draft — Clears insurance details and restarts the workflow
• Reset actions are controlled by user permissions

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