Status/Draft Status

Posted status records can be changed to Returned, Discounted or Remitted. Returned status records can not be processed by the A/R Posting Draft Remittance form. Returned status records can be changed back only to the Posted status. Discounted status records can be changed back to Posted only when the remittance has not yet been posted. Discounted status records can be changed to Remitted after the remittance has first been posted. Other values are displayed but can not be selected. If you select any of the other options, you will get an error message. Those other options are: Printed, Accepted, Canceled, Voided, and Paid.

If the draft is remitted for face value at its due date, the status is Posted. If the draft is remitted now for a discount, the status is Discounted. If the draft is Discounted, the remittance will be posted, but you will need to change the status to Remitted again after posting it to debit the bank cash account.