A G/L account that the system uses to record contingent liabilities for bills of exchange (or checks) that you present to a bank or vendor, until such time as they are cleared. It denotes that the bill has not been cleared and that you are liable to recourse.

The account is also used for technical reasons when you transfer a bill between portfolios.

To maintain the liability accounts, in Customizing for Financial Accounting, choose Bank Accounting ® Business Transactions ® Bill of Exchange Transactions ® Bill of Exchange Receivable ® Present Bill of Exchange Receivable at Bank ® Define Bank Subaccounts.

This Customizing activity works differently for Turkish company codes than for others. You have to fill out the fields as shown in the table below. Note that in the Bank acct (Bank account) column, you enter the account that the liability account is to be used for, and that the Usage column governs what transaction is meant (for example, in Turkey, Discounting refers to the presentation of a bill to a bank). In the Bank subaccount for liab. column (Bank subaccount for liabilities), you enter the G/L account for liabilities.