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Bill of Exchange - Types

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Posted on by lally

Hi All ,

In Bill of Exchange process we have the five options

Draw

o Protest

o Redraw

o Remit

o Settle.

Could any one explain with an example of what is the difference between the above options and when we need to use each ?

Thanks in advance.

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Hello Lally,

Example of possible scenarios:

Case A : Regular flow, customer pay the BOE on time.

Step 0: Invoice with a method of payment = BOE

Step 1: Draw the BOE : create the payment, with all the information : amount, due date, ... You can ask for an acknowledgment or not.

Step 2: Remit the BOE to the bank :at the due date, you send the file to the bank.

Step 3: Settle the BOE : the bank confirm the payment by the customer, you can settle the payment.

Case B : Unpaid flow, the customer doesn't pay the BOE.

Step 0: Invoice with a method of payment = BOE

Step 1: Draw the BOE :create the payment, with all the information : amount, due date, ... You can ask for an acknowledgment or not.

Step 2: Remit the BOE to the bank : at the due date, you send the file to the bank.

Step 3: Protest: the bank notify that the customer didn't pay the BOE. You can not settle the payment, you must create a Protest journal.

Step 4 (depends of the case): redraw the BOE : check with the customer why the BOE was not paid. If he can pay the BOE, you can redraw the BOE.

Case C: Remit for discount & customer pay the BOE on time.

Step 0: Invoice with a method of payment = BOE

Step 1: Draw the BOE: create the payment, with all the information : amount, due date, ...

Step 2: Remit the BOE to the bank: before the due date, you send the file to the bank. The bank will pay in advance the BOE but it will charge fee.

Step 3: Settle the BOE : the bank confirm the payment by the customer, you can settle the payment.

Go here to have screenshot about the Case A&C : vsdynamicsfinance.wordpress.com/.../ar-bills-of-exchange-transactions

Hope it will help you,

Regards,

Violaine

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lally 8 on at

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Hi Violine ,

Thanks for the detail inforamtion .

You mentioned that Draw the BOE : " create the payment, with all the information : amount, due date, ... You can ask for an acknowledgment or not."

Could i know to whom i need to ask for acknowledgement ?

How will i ask for acknowledgement in AX 2012 ?( would be great if you share the screenshot)

When i am creating the sales order or free text invoice , where i need to attach the BOE number , which i have created from the BOE setup ?

Please share the answers .

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Hello Lally,

For some BOE you need the acceptance from the customer before remit the BOE to the bank. It is the case for the BOE paper in France. I just posted a new article about the BOE with acceptance. Check this post to have all the steps. And for the setup in the methods of payment, select "Bill with acceptance" in the BOE draft field.

I am not sure about your second question (what number are you talking about). But when you use a BOE paper with a layout, you have to create BOE number in the Bank module (like for the cheque). This number is taken by the system when you print the file.

Regards

Violaine

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Pola 182 on at

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I need help to cancel and reverse the BOE Transaction

So I can Reopen the Customer Transaction and Cancel The Bill Of Exchange ??????

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Mariano Gracia on at

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Hi Pola,

if you want to reverse drawn transactions, you must use "Cancel" button from the bill of exchange journal, with AX2012 R2 you must have KB3094097 installed:

Cancel button will reverse the customer transactions and also ledger settlements.

Remember to enable correction parameter in general ledger parameters:

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