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The production
and processing of Commercial Papers (also known as Letters of Credit)
is catered for in both Accounts Receivable and Accounts Payable. Commercial
Papers can be generated from a number of sources, including sales
invoices/statements and purchase invoices/statements.
The functionality supports payment by instalments,
charges for overdue papers, forbidden due dates by customer, and variable
print formats. Papers can be generated as either ‘accepted’ or ‘rejected’,
and after presentation to bank can be classed as ‘honoured’ or ‘dishonoured’
based on the payment receipt date. Automatic honouring of commercial
papers on presentation to the bank can be defined by Payment Type.
Both local and foreign transactions are supported, including triangulation
rules and dual currency processing for the transition phases of EMU.
Flexible General Ledger integration is provided by payment type. These
controls include the letter status that should generate postings,
and which General Ledger accounts should be used for a particular
payment type and status combination.
An optional risk period can be defined for each payment type which
represents the number of days following the due date of a commercial
paper during which time it may be rejected by the bank and therefore
dishonoured. The value of commercial papers ‘at risk’ is tracked throughout
the customer credit validation process within Accounts Receivable
and Sales Order Processing.
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Flexible paper creation
- Sales Invoicing
- Accounts Receivable invoicing and statements
- Purchase Invoicing
- Accounts Payable invoicing and statements
- Manual input |
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Payment by instalments |
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Flexible due calculation |
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Optional charges |
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Credit validation of papers ‘at risk’ |
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User-configured General Ledger
integration |
Return to Modules
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