This activity is used to enter information about Bills of Exchange, received from customers. General Bill information to be entered includes customer, currency, amount and due date. You also specify the cash account to which the bill should be cashed. You can also specify a bill type when entering the bill of exchange information. The bill type selected will determine the features that will be used when entering the customer bill of exchange payments. The features relevant for each bill type is specified by selecting the relevant parameters for the Customer Bill of Exchange document type in the Payment Documents window.
Before saving the bill you can match it with invoices, according to what is specified on the bill. See further the Enter Matched Customer Invoices activity. When the bill is saved, the matched invoices are paid and the customer claim from the invoices (IP2) is removed, but a new customer claim appears (PP27) which is represented by the entered open Bill of Exchange. If the bill is not completely matched with invoices, the remaining, unmatched part is stored as a payment on account, which can later be matched with invoices in the Customer Offset function. After entry, the status of the bill is Created, and the open bill is found in the AR ledger with its Series ID and number.
If the Bill was originally printed from a customer payment document proposal and sent to the customer for approval, you can copy this preliminary bill from the proposal into the customer Bill of Exchange entry and save it as a Confirmed bill including the matching of all included invoices.
Customer Bills of exchange can be specified in the accounting currency, or if the accounting currency is an EMU currency also in EUR.
When matching a bill of exchange with invoices, you can mix EMU currencies. A Bill in EUR can for example cover invoices in DEM or FRF.
General basic data and a customer must exist.
When a customer bill of exchange has been entered and saved, all matched invoices are paid, and an Open Customer Bill of Exchange ledger item is created with the full bill of exchange amount. If the bill of exchange is not fully matched, the remaining part will create a new Payment on Account with the unmatched amount. A voucher will be created in the hold table in IFS Accounting Rules.