Creating bill of exchange payments

This transaction code represents a payment contract that is similar to a letter of credit. The contract can take the form of a draft issued against a bank account until the maturity date. It can also be used for cashing early at a discounted rate.

Select Bank Transaction Codes.
Click Create Bill Of Exchange Payment.
Specify this information:
Transaction Numbering

Select whether cash payments for the transaction code are Numeric or Alpha. If you select Printed Document or Electronic File in the Output Option field, you must select Numeric transaction numbering. If the Transaction Origin is Accounts Payable, then the transaction numbering can only be Numeric.

Payment Output Option
Select an output option for the cash payment code:
- Printed Document
  Use to create payments on payment pages creation.
- Electronic File
  Use to create payments on payment files creation.
- No Output
  Use to manually create payments.
Automatic Reconciliation

To automatically reconcile all cash payments for this code in Cash Management, select Yes. If you select No, then you must manually reconcile those cash payments.

Payable Acceptance Accounting

Select this check box to accept bills of exchange payments in Payables.

Receivable Acceptance Accounting

Select this check box to accept bills of exchange payments in Receivables.

Receivable General Ledger Accounting

Select whether the bills of exchange amount is posted by Receivables to the bills of exchange acceptance account when accepted.
Click Save.