Bills of Exchange
Use
In Turkey, bills of exchange and checks are among the most widespread forms of payment. The system allows you to record, store, and use them according to local legal and business requirements (see below).
The system handles both bills of exchange and checks using the system's bill of exchange functions. For this reason, references in this documentation to bills of exchange are understood here to include checks as well, unless stated otherwise.
Activities
Customizing
You set up the
Bills of Exchange
solution in Customizing for
Financial Accounting
(FI), by choosing
Bank Accounting
Business Transactions
Bill of Exchange Transactions
Bill of Exchange Receivable
Post Bill of Exchange Receivable
. Carry out all of the appropriate IMG activities, including those under
Bill of Exchange Portfolios
.
In addition, you create:
A validation that makes sure that the users work with the Turkish functions for bills of exchange, not the standard functions
A substitution that calculates the average due date when you enter more than one bill in the same accounting document
Day-to-Day Activities
The system allows you to process bills according to Turkish requirements. For example, it supports the use of portfolios to store bills, and automatically creates transaction records (known in Turkish as
bordrolar
).
In Turkey, bills are only used for two purposes, generally speaking. They are either presented to banks for collection, or to vendors by way of payment. Forfaiting and discounting are not common practice, and are not covered by the system. You make all supported postings using the
Bill of Exchange Transactions
program, and you can reverse most of them using the
Reversal of
Bill of Exchange Transactions
program.
For monitoring purposes, you can use the system to call up a list of your bills of exchange. In addition, you can also display each bill's history.
Closing
When you prepare a balance sheet, you are required to adjust any bills for inflation.