Setup requirements for bills of exchange

This list shows the setup requirements that must be completed before bills of exchange can be processed:

• Banking institutions
• Credit lines for each bank that are used for discounting or remittances.
• Bill of exchange payment formats for each company that uses the bill of exchange payment transaction codes.
• Cash codes for each bank account
• Relationships between cash codes, company, and associated Global Ledger account
• Global Ledger accounts that are associated with BOE processing
• BOE payment codes
• BOE payment options such as transaction origin, output option, acceptance, and acceptance accounting
• A customer group that can process bills of exchange
• Using the Receivables Company Bills Of Exchange tab, select options for processing bills of exchange, such as acceptance accounting option, remittance control, BOE acceptance code, financial revenue and expense code, and dishonored code.
• Select BOE codes for the company or process level, such as, BOE acceptance, financial revenue or expense code, and dishonored code
• Using the Company Customer Processing Rules tab, set up a default BOE Processing Type for Bills of Exchange customer. Select Individual or Summary processing.
• Select a bank account type that indicates Bills of Exchange in the Company Customer Banks tab.

See the Financials Setup and Administration Guide.