Selecting Bills of Exchange for Remittance

The next step to processing bills of exchange is selecting bills of exchange with an accepted status for remittance. When selecting bills of exchange, you have two choices: to discount them or encash them. There are two forms used to select BOE's, but it depends on whether you defined your company to use remittance control or not, on the BOE tab of Company (AR01.1). The following procedures will describe how to select bills of exchange for remittance, encash or discount them, and which form to use based on whether you use remittance control or not.

To select bills of exchange for remittance without remittance control

Access Remittance Selection (DT160).

Note: DT160 is used only if your company does not use remittance control.
Select the company, process level, cash code and payment code.

Use this program to select bills of exchange based on the selection criteria you enter. The program produces a listing of the bills of exchange selected and the total amount.

Use the following guidelines to enter field values:

Type

Select the type of remittance:

Discounted - is a bill of exchange sold before the due date at a discount.

Encashed - is a bill of exchange held until the due date.

Update Opt

If you select No, the program will create a report only.

If you select Yes, the program changes the status from Accepted to Selected for Remit.
If you selected No in the Update field, and you want to remove the bill of exchange, you will need to cancel and recreate the bill of exchange. Canceling Bills of Exchange
Run Remittance Selection (DT160) again to create the remittance.