Maintaining Remittances

This procedure allows you to do modify bills of exchange remittance. You can do the following tasks using this form:

  • Remove a bill of exchange from a bank remittance.

  • Mark a remittance as Presented to the bank.

  • Mark a discounted remittance as cashed.

  • Enter bank charges.

  • Cancel and uncashed remittance.

  • Reverse or "undo" a presented remittance or a cashed remittance.

To modify bills of exchange remittance

  1. Access Remittance Presentation (DT70.1).
  2. Use this form to perform the following tasks.
    Remove a bill of exchange from a bank remittance

    Click the BOE button next to the remittance you want to modify. In the Remittance BOE Maintenance (DT70.3), select the "U" (Unselect) line function code next to the bill of exchange you want to remove from the remittance. The program changes the status of the bill of exchange to Accepted. If the bill of exchange was presented for discount, the program removes the bill of exchange amount from the bank credit risk total. If the bill of exchange has been processed by Bank Presentation, Cashing Update (DT180), the program creates reversing general ledger entries. If you remove all bills of exchange from a remittance, the program changes the status of the remittance to Canceled.

    Mark a remittance as Presented to the bank

    Select the "P" (Presented) line function code next to the remittance you are presenting to the bank. The program changes the status of each bill of exchange to Presented to Bank.

    Mark a discounted remittance as Cashed

    Select the "C" (Cashed) line function code next to the remittance that has been cashed. The program changes the status of each bill of exchange to Cashed and updates customer balances.

    Enter bank charges

    To enter bank charges for the remittance, Click the Expenses button to access Discounted Cashing Options (DT70.2).

    Cancel an uncashed remittance

    Select the "D" (Cancel) line function code next to the uncashed remittance you want to cancel. The program changes the status of each bill of exchange to Selected for Remittance. If the bills of exchange have been processed by Bank Presentation, Cashing Update (DT180), the program creates reversing general ledger entries.

    Reverse, or "undo," a presented remittance or, if you have not run DT180 (Bank Presentation, Cashing Update) a cashed remittance

    The program reverses your last remittance status change. If you reverse a presented remittance that has been processed by DT180, the program also creates reversing general ledger entries. Select the "U" (Undo) line function code next to the remittance you want to reverse. The program returns a cashed remittance to a Presented status (bills of exchange changed to a Presented to Bank status) and a presented remittance to a Generated status (bills of exchange changed to a Included in Remittance status).