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  11. Draft entry/maintenance

Draft entry/maintenance

The Accounts Receivable system provides facilities for the payment of customer accounts by drafts or letters of credit.

Create draft or letter of credit

  1. In the menu, expand Base Modules > Distribution > Debtors & Claims > Accounts Receivable > Entry  and then double-click Debtor Draft, L/C Entry/Maintenance. ARE170 Draft Entry/Maintenance panel appears listing all the existing drafts and letters of credit.
  2. Click Add to create a draft or Create L/C to create a letter of credit. ARE170 Draft Entry/Maintenance panel appears in add mode. 
View the fields on this panel
Field Description
Billing no  Select a valid customer billing number indicating the account to which this customer’s financial transactions relate. 
Draft amount  The draft amount is the total payment amount recorded for a draft. 
Draft number or L/C number  A draft number identifies a draft entered into the accounts receivable system. This is the same as the letter of credit number. 
Draft or L/C date  This is the date printed on a draft/letter of credit sent in for payment. 
Draft due date 

This is the date on which the draft becomes due. The date the letter of credit amount can be accessed, for example, letters of credits received from overseas may take a week until the payment amount can be accessed. 
Bank reference 

This is the bank reference number on the draft or letter of credit. 
Bank address  The bank address includes the name of the bank that issued the draft or letter of credit, accompanied by the bank’s street address.  Each line may be up to 30 alphanumeric characters in length. 
Comments  This is a free format text field that contains comments or notes relating to a specific draft or letter of credit received for payment. 
  1. Enter the above information, as necessary.
  2. Click OK. List of outstanding invoices for the customer appears.
  3. To allocate the draft/letter of credit to an invoice select the invoice and enter a Y against it.
Note  If the Draft amount needs to be changed select function Header to return to the header panel and make any necessary changes.
  1. Click OK to save the draft/letter of credit.

Maintain or delete a draft or letter of credit

 If you want to… Then…
Maintain a draft or a letter of credit,

From ARE170 Draft Entry/Maintenance panel listing all the existing drafts and letters of credit.

  1. Select the draft/letter of credit to maintain.
  2. Click option Select draft.
  3. Make the necessary changes and click OK.
Note

To change the invoice paying clear the Yes from the original invoice and place another Yes on the invoice that now want to be allocated payment against.
Delete a draft or a letter of credit,

From ARE170 Draft Entry/Maintenance panel listing all the existing drafts and letters of credit.

  1. Select the draft/letter of credit to delete.
  2. Click option Delete draft.
  3. Click OK to confirm deletion.

 

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