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Bill of exchange procedure

COMPREHENSIVE AND CLEAR

Bill of exchange management

This module is used to manage ownership changes, including the posting of change credits and charges. You can always see which bills are open. Bills of exchange can be issued including discounts and charges.

 

Components of bill of exchange management are:

  • Exchange credit (Credit note of the bill of exchange minus discount and expenses for the drawee) 
  • At maturity, the sum payable is charged to the drawee 
  • Bill of exchange (printout of billing including discount and expenses) 
  • Change list (overview of open bills)

 

Billing

A bill of exchange is created for each change of ownership. It shows the bill of exchange amount, the discount amount and the exchange charges.

In addition to the amount of the discount rate, the user can also set the basis of the interest rate, ie whether 30 days per month is expected. The exchange charges are a fixed amount. Both the discount rate and the charges can be overwritten with each change.

The connection to financial accounting is made via account assignments. Processing procedures allow automated posting of credits and charges. Bills of exchange are automatically archived.

 


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