Defining BOE Options

If you selected Yes in the Bills of Exchange (BOE) field for the company or customer group, you will need to define bill of exchange entry options and general ledger codes used for bill of exchange processing.

Define BOE options

  1. Access Company (AR01.1), BOE tab.
  2. Define BOE entry options and general ledger codes used for processing. Use the following guidelines to enter field values:
    Acceptance Accounting Option

    Decide whether bills of exchange should post to the BOE Receivable account upon acceptance.

    If you select Yes, BOE will have their total transferred from Accounts Receivable to BOE Receivable upon acceptance. If you select No, the total will remain in Accounts Receivable upon acceptance.

    Remittance Number

    Type the last bills of exchange remittance number assigned. If left blank, the system begins numbering remittances with 1. You can change the value of this field as long as the new value is greater than the highest remittance number used.

    BOE Number

    Select whether automatic or manual numbering will be used for internally created bills of exchange.

    Last BOE number -

    If you selected Yes in the Auto Bills of Exchange Numbering field, type the last bills of exchange number assigned. When you add a new bill of exchange, the system increments this field by one. If left blank, the system begins numbering with 1. You can change the value of this field as long as the new value is greater than the highest bills of exchange number used.

    Bank Risk Option

    Select a bank risk option. Indicates whether the company performs bank risk processing when cashing a discounted remittance.

    If you select Yes, the system will not let you exceed the credit limit defined in the Lawson Cash Management application for the bank you submit a discounted remittance to.

    Discounted Remit Payment Code

    Select the default payment code used to update the Lawson Cash Management system when a discounted remittance is cashed. Must be a valid bank service transaction code in the Lawson Cash Management system.

    Remittance Control

    Select Yes to use remittance control and process BOE's with a single maturity date. Select No to process BOE's individually or in remittances you control.

    BOE Acceptance Code

    If you select Yes in the Acceptance Accounting Option field, you must enter BOE acceptance code. This represents a general ledger account used for BOE acceptance accounting.

    Financial Revenue/Expense Codes

    Define a financial revenue/expense code. This represents the general ledger account used for BOE revenue/expense accounting.

    Dishonored Code

    Define a dishonored code. This code represents a general ledger account used for dishonored bills of exchange accounting.