Import and Export Software · Guide
LC Record Keeping and Shipment Tracking for Nepali Importers
Importers who work with letters of credit and long shipping routes live by dates and documents. A missed expiry or a missing paper can delay goods, create extra charges or complicate payment. This article is about record keeping only. LC rules, customs procedures and bank requirements are set by the banks and authorities, so confirm them with your bank and clearing agent. What follows is how to keep your own records so that nothing is forgotten.
One file per shipment
Treat each consignment as a file with a unique reference, such as the supplier name plus a running number and the Nepali date. Everything related to it goes in or is linked to that file: orders, invoices, LC papers, transport documents, agent bills, payments and receipts. The benefit is simple. When someone asks about a shipment, you open one place.
What to record about the LC
- LC number, issuing bank and branch.
- Beneficiary supplier and the amount and currency.
- Margin paid, bank charges and any commission, each with a date.
- Date opened, last date of shipment and expiry date.
- Any amendments and the dates they were made.
- Documents required and the status of each.
- Payment or settlement dates and the exchange rate applied.
Add a reminder some days before each deadline. Having the dates visible on one list, sorted by closest deadline, is more reliable than memory.
Shipment status stages
A set of clear stages keeps the team aligned. A typical one is: order placed, goods ready, shipped, in transit, arrived at border or port, in clearance, cleared, in transport to godown, received. Add the date at each stage. Over time, you will see how long each stage normally takes for each supplier and route, which helps you plan the next order and know when a delay is unusual.
Documents to keep with the file
| Document | Why it matters |
|---|---|
| Proforma and commercial invoice | Value and terms of the purchase |
| Packing list | Checking quantity on receipt |
| Transport document | Proof of shipment and tracking |
| Clearance documents | Source of duty and tax figures |
| Agent and transport bills | Cost lines for landed cost |
| Bank advices | Payment, charges and rates |
Scan each document and attach it to the file. Keep the originals in a labelled folder, in the order of the file reference.
Reconciling with the bank
Each month, compare your LC and payment records with the bank statement. Look for charges you did not expect, differences in exchange rates and margins not yet adjusted. Questions are easier to settle with the bank when you can quote the date and reference from your own record.
Receiving and shortage claims
When goods arrive, count them against the packing list and note any shortage or damage the same day, with photos. Record the difference against the shipment. If a claim is possible with the supplier or the carrier, time limits apply, so ask your agent and the supplier what they require and act quickly. A record made on the day carries more weight than one reconstructed later.
Exports use the same discipline
If you export, the same habits apply: one file per consignment, buyer details, invoice, shipping documents, payment received and date. Foreign currency receipts should be linked to the invoice so you can see what is still outstanding from each buyer.
Who is responsible for what
Many missed dates happen because everyone assumed someone else was watching. Decide who owns each stage: who talks to the supplier, who deals with the bank, who coordinates with the clearing agent and who receives the goods. Write the names in the shipment file. When a problem comes up, the right person is easy to find, and the owner does not have to chase everyone each morning.
A weekly review that takes twenty minutes
Once a week, print or open the list of open shipments sorted by the nearest deadline. For each one, ask three questions: what is the next step, who is doing it and by when. Add notes for delays and call the supplier or agent when a date slips. This short ritual prevents most surprises, and it makes it easy to brief a partner or banker when they ask about the state of your imports.
Keeping records for the long term
Records that were useful during the shipment become important evidence later, for audits, tax filing, insurance claims or a dispute with a supplier. Keep the digital copies with a regular backup, and keep paper originals filed by shipment reference. The period you must keep them is set by the rules that apply to your business, so ask your accountant, and set your archive habit accordingly.
Next step
List your open shipments and write the next deadline against each. If any are missing, that is your first improvement. See how deadlines and documents are kept in our import and export software. Businesses that also want strong supplier payment records may look at accounting software alongside it.
Get a demo and quote for Import and Export Software
Tell us about your business and we will reply the same working day with a demo and a clear quote. No obligation.
Chat on WhatsAppOr call / WhatsApp +977 9846280400
More guides on Import and Export Software
Import Business Software in Nepal: What to Look For
Importers need more than a billing program. Learn which features matter, which claims to question and how to test a system.
Read guide ›How to Calculate Landed Cost of Imported Goods in Nepal
Landed cost shows what an imported item really costs by the time it is in your godown. Here is how to build it step by step.
Read guide ›Import Costing in Excel vs Software: Which Is Safer?
Spreadsheets are flexible and cheap, but they break quietly. A fair comparison for importers deciding whether to move to software.
Read guide ›Import Shipment Checklist: Common Mistakes Nepali Traders Make
A stage-by-stage checklist for each import consignment, and the record-keeping mistakes that cost traders the most.
Read guide ›