Settings for Bills of Exchange Payable Prior to Due Date
Bill of Exchange Limit
In the customer or vendor master record, you can specify a bill of exchange limit that determines the maximum amount for which a bill of exchange may be issued. If the amount to be cleared is over this maximum, the payment program splits the amount and issues further bills of exchange.
This makes sense if your vendor has an agreement with his house bank that bills of exchange are only cashed up to a certain amount. Limits for bills of exchange are used in Spain, for example.
Grouping Together Several Open Items
You specify whether certain open items should be grouped together for payment by bill of exchange via the specifications for the paying company code. See the topicSpecifications for the Paying Company Code (2). You can specify that a single bill of exchange should be created
Issue Date and Due Date
The issue date and the due date are entered into the bill of exchange by the payment program. You can specify both dates manually during the payment run. This is necessary for the date of issue once per payment run. You can select from the following alternatives for the due date:
Due Date Interval for Open Item Selection
To ensure that the payment program only issues a bill of exchange if this can be used for refinancing, you can specify for an item the minimum and maximum period (in days) before the due date for payment. See the figureSpecifications for the Paying Company Code (3) Only items that fulfill this condition are paid with a bill of exchange. This should ensure that the bill of exchange has a life which allows the vendor to deposit it at the bank for refinancing.
Charges can be designed as country-dependent or related to a specific house bank. You can calculate charges at the presentation of a bill of exchange, in order to: