Incoming Payment with Bill of Exchange

Use

The customer pays his invoice by way of a bill of exchange. In the following scenario you post this bill of exchange and clear the open item in this way.

Procedure

1. Call up the transaction as follows:

Menu Path	Accounting ® Financial Accounting ® Accounts Receivable ® Document entry ® Bill of exchange ® Payment
Transaction Code	F-36

2. Enter the following data:

Field	Data
Document date	Current date + 14 Days
Posting date	Current date + 14 Days
Document type	DZ
Period	Current period
Company code	1000
Currency/ rate	EUR
Transaction to be processed: Incoming payment	Select
PstKy	09 (Special G/L credit)
Account	2145
Sp.G/L (special general ledger-characteristic)	W

By choosing the special G/L account the system knows that a bill of exchange is to be posted on a separate entry screen. Simultaneously the system posts automatically to the special general ledger determined by the special general ledger characteristic.

3. Choose .

To skip any warning messages, choose .

4. Enter the following data:

Field	Data
Amount	340,016.88
Due on	current date + 90 Days
Issue date	current date
Planned usage	D (discounting)
Drawer	address data of your company code
Drawee	address data of customer 2145
Domicile	Address of your bank, you are to put the bill of exchange to
Cent.bnk loc	Important for the rediscountability of the bill of exchanges. If the bank entered in the field domicile is on a central bank location already, you do not have to make an entry
Discount rate	10

5. Choose .

The number of discount days is calculated from the difference between issue date and due date (78 days in this example).

6. Choose Process open items.
7. Enter the following data:

Field	Data
Special G/L ind	W
Automatic search	Select

8. Choose Process open items.
9. If the Proposal for clearing dialog box appears, choose Accept.



Note that the cash discount has to be deactivated. Otherwise choose Disc. (Deactivate discount).

10. Position your cursor on the gross amount and choose Items (Activate Items).
11. Choose Document ® Simulate.

The Bill of Exchange Payment: Display Overview screen appears, where you can see a posting with 6 items.

Example of posting:

Item	PK	BusA	Acct no.	Ammount in EUR	Tax
1	09W	7000	2145	340,016.88
2	50		275100	7,367.03-	1,178.05
3	50		275300	2.56-	0.41
4	03		2145	8,548.72
5	15	7000	2145	340,016.88-
6	50		175000	1,179.13-

12. Double-click on the first item.

You now see the bill of exchange in detail. In the General ledger field you see that the bill of exchange is posted to the differing reconciliation account 125000.

13. Choose .
14. Note the document number.
15. Choose .
16. In the Exit Editing dialog box, choose Yes.