Bill of Exchange Usage (Discounting) 

Use

The bill of exchange will now be forwarded to the bank for refinancing (discounting). In the following scenario, you post the bill of exchange usage (manually) as soon as the bill of exchange amount is credited to your account. The incoming money is posted to the account and the bill of exchange charges are posted to the respective expense account. The reverse posting is done by the system automatically. This posting is made to a bill of exchange liability account (bank sub-account).

Procedure

  1. Call up the transaction as follows:
  2. Menu Path

    From the Accounts receivable node, choose Document Entry ® Bill of Exchange ® Discounting

    Transaction Code

    F-33

  3. Enter the following data:
  4. Field

    Data

    Document date

    current date + 2 months

    Company code

    1000

    Currency/ rate

    EUR

    Trading part.BA

     

    Usage

    Discounting

    Value date

    current date + 2 months

    Bank account

    113100

    Amount

    337,180.91

    Bank charges (charges + discount charges)

    2,835.97

    The amount of 337.180,91 corresponds to the credit memo on our current account. It is calculated from the initial sales order value (340.016,88) less the bill of exchange charges from the bank (2,50) and the discount interest (2.833,47). The bank deducts discount interest of 2.833,47 EUR because we present the bill of exchange 30 days prior to the due date.

  5. Choose Select Bill of Exchange.
  6. To skip any warning messages choose .

  7. Enter the following data:
  8. Field

    Data

    Document number

    Document number of the bill of exchange

    Fiscal year

    Current year

  9. Choose .
  10. The system displays the Document Overview. The document should look as follows:

    001 40 0000221000 discount charges 2,835.97

    002 40 0000113100 Dte Bank (domestic) 337,180.91

    003 50 7000 0000113107 DteBk (bill of exc) 340,016.88-

  11. Choose .
  12. The system displays a message that the document was posted.

  13. Choose .
  14. In the dialog box choose Yes.