Bill of exchange cashing update

Run this process to create general ledger distribution records for bill of exchange activity that occurred from the last run. This includes bills of exchange that are cashed or dishonored.

  1. Select Run Processes > Bill Of Exchange.
  2. On the Processing tab, select Cashing Update.
  3. Specify this information:
    Vendor Group
    Specify the vendor group fro the cashing update.
    Cash Code
    Specify the cash code for the cashing update. A cash code represents a bank account.
    Online Selection Only
    If you select No, then the bills of exchange marked as cashed or dishonored are updated and mature bills of exchange are marked as cashed. A bill of exchange is automatically marked as cashed if the bill of exchange due date is on or before the Due Date that you define less the Margin Days.
    If you select Yes, then only bills of exchange that have been marked as cashed or dishonored in Bill of Exchange Cashing Selection are updated.
    Status
    If you selected Yes in the Online Selection Only field, then select a status. This field is used to determine whether to process Cashed or Dishonored Bills Of Exchange.
  4. Optionally, specify this information:
    Pay Group
    If you select No in the Online Selection Only field, then specify the pay group for the cashing update.
    Due Date
    Specify a due date. Bills of exchange that have a due date on or before this date, less the Margin Days, are cashed. If this field is blank, then the system date is used.
    Margin Days
    Specify the number of margin days to add to the bill of exchange due date. This is used for cashing. Bills of exchange are cashed on the due date minus the margin days.
    Update
    Select whether to create general ledger distributions or to only run a report. If you select Yes, then run the Bill Of Exchange Distribution Posting to transfer the distributions to the general ledger.
  5. In the Report Distribution section, select a distribution list and export type for Bill Of Exchange Cashing Update Report.
  6. Click Submit to process this action now or click Schedule to schedule the process to run later.