Posting Bill of Exchange Usage: Requirements
To post bill of exchange usage, you must determine:
The bank subaccount to which the offsetting entry for the incoming payment should be posted. For further information, see
Bill of Exchange Liability at the Bank
The accounts to which the bill of exchange charges (debited by the bank) should be posted. For further information, consult
Bills of Exchange Receivable: Bill Charges
The length of the payment period in days (the date after which the bill can be protested). Further information can be found in
Payment Period for Bills of Exchange