Entering and Posting Bills of Exchange Receivable 

This topic describes how bills of exchange are posted in the system.

Entering and Posting Bills of Exchange Receivable

If a customer pays with a bill of exchange, post the bill of exchange and use it to clear their invoice.

Your system administrator can customize entry screens to suit your company’s requirements. As a result, some of the fields mentioned below, such as collection fees, may not appear in your system.

To post the bill of exchange and clear the open items, carry out the following steps from the Accounts Receivable menu:

  1. Choose Document entry ® Bill of exchange ® Payment.

    2. In the Header data screen you also choose a clearing transaction.

  2. Enter the document header data, and select the clearing transaction Incoming Payment. In the field First line item, enter the posting key for a special G/L transaction ( 09 in the standard system), the customer account number and a special G/L indicator for bills of exchange receivable ( B in the standard system).

    3. The special G/L indicator indicates to the system that a bill of exchange is to be posted and that a special entry screen is required. The special G/L indicator is also used to determine which special G/L account is to be posted to.

  3. Choose ENTER .

    4. The screen Bill of Exchange Payment: Create Customer Item is now displayed.

    This screen contains the following field groups: B/exch. receivables and Bill of exchange details. If your system is so configured, a further field group, Bill of exchange charges, is also displayed.

  4. Enter the bill of exchange data.

    5. In the first field group, the bill of exchange amount is the only required entry; all other specifications depend on your system configuration.

    The most important fields in the group Bill of exchange details are:

    Due date
    The bill of exchange is to be paid on the specified due date.

    Issue date
    The issue date is required for the bill of exchange list.

    Planned usage
    Specify an indicator for the planned deposit type, such as discounting or collection. This indicator is required so that the system can automatically create a deposit list for depositing bills of exchange at the bank. You can select the bills of exchange according to usage type.

    Drawer
    The system defaults the address data of your company code.

    Drawee
    The system defaults your customer's address data.

    Domicile
    Specify the address of the bank where the bill of exchange is payable.

    Central bank location
    The State Central Bank must be entered if the bill of exchange receivable is rediscountable. If the bank already entered in the Domicile field is in a State Central Bank city, this information is not required.

    If the field group Bill of exchange charges is displayed on your screen, you can enter the bill of exchange charges. When you post a payment by bill of exchange, the system posts the bill of exchange charges to revenue accounts. The system also posts a receivable for the bill of exchange charges to the customer. Run program SAPF160 to print the customer invoices for the bill of exchange charges. Depending on your system configuration, some fields will already contain default values. The fields for bill of exchange charges are:

    · Collection fees
    You can enter an amount for collection fees.

    · Discount (interest) and discount days
    The system uses the specified discount rate and the discount days to calculate the interest charges (discount). You can enter the discount days manually or have the system calculate them automatically. The discount days are the difference between document date and due date.

    · Tax code
    Enter the tax code applying to the bill of exchange charges. The system uses this code to calculate the tax amount on the collection fees and interest charges.

    After you enter the bill of exchange data, continue posting the bill of exchange as follows:

  5. Select Edit ® Choose open items.

    6. The system displays the screen to select open items to be cleared. The system suggests the customer’s account number, the account type and the company code using the data from the header data screen. You can specify selection criteria to further limit the items to be processed.

  6. Choose ENTER .

    7. The list of open items is now displayed.

    Process open items as usual. All functions are described in Clearing Open Items.

  7. After the difference (between the debit and credits) is zero or almost zero, post the document by selecting Document ® Post.

The system clears the open items selected and posts a bill receivable to the customer account and the special G/L account. The bill of exchange charges are posted automatically to the customer account and the revenue accounts.

Posting a Bill of Exchange Payment as a Payment on Account

If you post the bill of exchange as a payment on account and do not clear any open items, you post an incoming payment and a bill receivable to the customer account. Generally, a bill of exchange payment is made in respect of a particular invoice. However, it might occasionally be the case that you do not have the invoice number, for example because the payment advice is missing.

To post a bill of exchange payment as a payment on account, carry out the following steps:

  1. Choose Document entry ® Other ® Intern.transf.psting. ® without clearing

    2. The screen Enter Posting: Header Data is now displayed.

  2. Enter the document header data and, on the bottom line, the posting key for an incoming payment (15 in the standard system) and the customer account number.
  3. Choose ENTER .

    4. The system displays a screen to enter the payment.

  4. Enter the data for the payment and, at the bottom of the screen, the posting key for a bill of exchange payment ( 09 in the standard system), the customer's account number and a special G/L indicator for bill receivables ( B in the standard system). Choose ENTER .

    5. The system displays a screen to enter the bill of exchange data.

  5. Enter the bill of exchange data and post the document by choosing Document ® Post.

Printing Customer Bill of Exchange Charges

When you enter a bill of exchange receivable, you can also enter collection fees and the data to calculate the interest charge. The system posts these bill charges to the customer account and to the corresponding revenue accounts. If you have to post tax on sales and purchases, the system calculates the amount based on the bill of exchange charges and also enters this in the customer invoice.

The bill of exchange charges statement is created automatically. To print this, choose: Periodic processing ® Print correspondence ® As per requests. You can find further information on printing correspondence in Correspondence and Internal Evaluations.

Printing a Bill of Exchange List

Generally, all bills of exchange receivable are contained in the bill of exchange list. In the SAP R/3 System, this can also include bills of exchange payable. For each bill of exchange, the program includes the due date, the amount, the name and address of the drawer (usually you, the vendor), the name and address of the drawee (usually your customer) and the address of the bank and nearest central bank branch where the bill of exchange is payable. If you have deposited the bill of exchange, the deposit type (discount, collection, or forfaiting) is also given.

For further details on the program, see the online documentation.