Settle a bill of exchange

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Important

This content is archived and is not being updated. For the latest documentation, see Microsoft Dynamics 365 product documentation. For the latest release plans, see Dynamics 365 and Microsoft Power Platform release plans.

Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012

You can settle the bill of exchange when the invoice is due.

  1. Click Accounts receivable > Journals > Bill of exchange > Settle bill of exchange journal.

  2. Press CTRL+N to create a journal.

  3. Click the Bill of exchange tab. In the Remittance type and Bank account fields, select the remittance type and the bank account that was used when the bill of exchange was remitted.

  4. Click Lines.

  5. In the Journal voucher form, select the customer account for the invoice, and then click Functions > Settlement.

  6. In the Settle open transactions form, select the check box in the Mark column for the remitted transaction from the invoice.

  7. Close the form to transfer the transaction to a journal line. If the remittance type is Discount, the default entry in the Offset account field is the same as the account in the Liabilities for discount account field for the remittance for discount posting profile.

  8. In the Journal voucher form, click Post > Post.

    Note

    If you receive a message that mentions posting restrictions, you can post only the journals that you created. For more information, see Posting restrictions (form).

A new line with a status of Honored and a sequence number of 1 or higher is created for the remitted bill of exchange and is shown in the Bill of exchange journal inquiry form. In the Bills of exchange statistics inquiry form, the number in the Honored bills row is increased, and the number in the Remitted bills row is decreased.

When you settle a bill of exchange that is remitted for discount, the liabilities for discount account is debited and the remit for discount account is credited. When you settle a bill of exchange that is remitted for collection, the ledger account for the bank that is used is debited, and the remit for collection account is credited.

Close settled bills of exchange

Use the Remittance files for customers form to change the status of a bill of exchange from Honored to Closed. You can see the number of honored bills and closed bills in the Bills of exchange statistics form.

  1. Click Cash and bank management > Common > Bank accounts.

  2. Double-click a bank account. On the Action Pane, click the Manage payments tab, and then click Customer remittances.

    Note

    You can also open the Remittance files for customers form from the Methods of payment form.

  3. In the Remittance files for customers form, select a remittance file, and then click the Status tab.

  4. Select the Closed check box.

See also

Protest a bill of exchange

Set up bills of exchange

Journal header (form)

Remittance files for customers (form)