What is washout in SAP LO-GT - Global Trade Management?

SAP Term: washout

• Component: LO-GT

• Component Name: Global Trade Management

• Description: A process in commodity trading that allows for netting purchase and sales contracts to avoid unnecessary logistics, storage costs, and emissions.

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• Key Concepts: 
  Washout is a feature of SAP's LO-GT Global Trade Management component that allows companies to manage their global trade operations. It enables companies to track and manage the movement of goods across international borders, as well as the associated taxes, duties, and other costs. The washout feature also helps companies to ensure compliance with international trade regulations. 
  
  How to use it: 
  The washout feature in LO-GT Global Trade Management can be used to track and manage the movement of goods across international borders. It allows companies to monitor the progress of shipments, calculate taxes and duties, and ensure compliance with international trade regulations. The feature also provides visibility into the costs associated with global trade operations, allowing companies to make informed decisions about their operations. 
  
  Tips & Tricks: 
  When using the washout feature in LO-GT Global Trade Management, it is important to ensure that all relevant information is accurately entered into the system. This includes details such as shipment dates, taxes and duties, and other costs associated with global trade operations. Additionally, it is important to regularly review the data entered into the system to ensure accuracy and compliance with international trade regulations. 
  
  Related Information: 
  For more information on SAP's LO-GT Global Trade Management component and its washout feature, please visit SAP's website at https://www.sap.com/products/global-trade-management.html. Additionally, there are a number of online resources available that provide detailed information on how to use the washout feature in LO-GT Global Trade Management.