Settle Customer Bill of Exchange

Explanation

This activity is used in the Customer Bills of Exchange window to report that a Bill of Exchange, received from a customer, has been settled, if the following has happened:

• The Bill was cashed in advance, i.e. before due date
• The Bill has a Series ID that has the Keep BoE Open when Cashing Before Due Date check box selected
• Interim cash account is not used for the Bills' Series ID

As a basis for reporting, use the payment institution's confirmation that the bill was settled. 

Prerequisites

A Customer Bill of Exchange must have been sent for cashing according to the above specified criteria.

System Effects

When the bill is settled, a voucher is generated with a debit posting to the Customer BoE Cashed in Advance account (PP25), and a credit posting to the Open Customer BoE account (PP27) or the Open Customer BoE Cashed in Advance account (PP50). The account where the credit posting is made depends on whether the BoE claim has been reposted. The status of the bill is changed to Settled.

Window

Customer Bills of Exchange

Related Window Descriptions

Customer Bills of Exchange 
Settle Bill of Exchange

Procedure

To Settle Customer Bill of Exchange:

1. Open the Customer Bills of Exchange window and select the Bill of Exchange to be settled.
2. Use right mouse button function Settle BoE to Settle the Bill of Exchange.