Trade notes payable
Trade notes payable (TNPs) are documents that you send to a supplier with the commitment to pay the amount due after a certain period of time (a bill of exchange).
Trade note steps
A trade note payable can be issued to the supplier.
When you define a trade note payment method, you can select the steps to be performed on the trade note. Some steps are only available for trade notes payable, and some only for trade notes receivable. Of some steps, the availability depends on the selection of other steps. For some steps, you can indicate that the step is optional.
The trade note's status always indicates the last step performed on the trade note.
Trade notes payable can have the following statuses:
- Open (initial status)
- Issued
- Sent to BP
- Accepted/Sent
- Paid ( Settled)
- Void
- Cancelled
- Dishonored
Refer Set up and process trade notes payable for details on how to select the steps for each type of trade note.