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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD BILLS OF EXCHANGE Bills of Exchange: Overview The

following types of bill of exchange can be managed in and posted to the Accounts Receivable (FIAR) and Accounts Payable (FI-AP) application components: Bills of Exchange Receivable Bank Bills and Bills of Exchange Payment Requests Bills of Exchange Payable Check/bill of exchange in Accounts Receivable (reverse bill of exchange) Check/bill of exchange in Accounts Payable (reverse bill of exchange) Bills of exchange are handled as special G/L transactions in the SAP System. These transactions are thus maintained independently of other transactions in the subsidiary ledger and are posted to a special G/L account in the general ledger. This affords you an overview of bills of exchange receivable and bills of exchange payable at any stage. Transfer postings are not usually necessary to display these items on the balance sheet. Bills of Exchange Process Flow a. Link between Sundry Debtors (Accounts Receivables) to Bills of Exchange Receivables A/C b. Link between Bank Account to Sundry Debtors (AR) to Bills Discounting Accounting c. Sales invoice posting d. BOE Receivables Posting e. Bills Discounting Posting f. Reversal Bills Discounting g. Outstanding BOEs List h. Bank Bills Discounting Charges (BDS) The following types of bills of exchange can be managed in and posted to the accounts receivable and payable application components. Bills of Exchange Receivables Bank Bills and Bills of Exchange Payment Request Bills of Exchange Payable Check / Bills of Exchange in AR Check / Bills of Exchange in AP Bills of exchange are handled as Special GL transactions in the SAP System. These transactions are maintained independently of other transactions in the subsidiary ledger and are posted to a special GL account in the GL. BOE are a form of short term finance. If your customers pay by bills of exchange, he does not make payment immediately but only on the period specified in the bills has expired. Bills of exchange can be passed on to the third parties for refinancing. A BOE can be discounted with a bank in advance of its due date (discounting). The bank buys the BOE from you. Since it does not receive the amount until the date recorded on the bill, it charges you interest (discount) to cover the period between the recovery of BOE and its eventual payment. Some forms of handling charges are also levied. There are three events which are posted to financial accounting. Payment by Bills of Exchange Firstly, the payment by bill of exchange is posted and used to clear the receivable against the customer.

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD Bills of Exchange Receivables Account Dr To Customer Account Cr Bills of exchange receivables are managed using the special G/L method in the SAP System. When posting a bill of exchange receivable, you normally clear open items or post the payment as a payment on account. The system posts a bill of exchange receivable to the customer account and reduces the receivables from goods and services on the reconciliation account. The bill of exchange receivable is also automatically posted to the special G/L account for bills of exchange receivable in the general ledger. You can monitor the existing bill of exchange receivable at any time via the customer account. The special G/L account for bill of exchange receivables shows you the total amount of bill of exchange receivables that exist for the customers represented in this account. Bills of exchange receivables are not canceled until they have been cleared. Once you have presented the bill of exchange to a bank for financing, you post the bill of exchange usage. You now have a bill of exchange liability since, as a drawer, the bank has liability to recourse if your customer fails to honor the bill. This potential liability is posted to a bank sub account and deleted once it has expired. If you wish to pass on bills of exchange to a bank, the presentation list required can be created automatically. If you like, you can also arrange for bill of exchange usage to be posted automatically or for posting to be prepared. This only applies to bills of exchange posted before the due date of the invoice, as is the case in Italy. Once the bill of exchange is due for payment and any protest period has elapsed, you can cancel the bill of exchange receivable and the bill of exchange liability. You can define a country-specific bill of exchange protest period in Customizing. Bill charges are normally passed on to the customer. The system posts these amounts to the customer account and the corresponding revenue accounts. For bank bills and bill of exchange payment requests, there are certain special features that must be borne in mind when drawing-up and posting these items. Bank bills and bill of exchange payment requests are most common in Spain, France, and Italy. Bills of exchange receivable are managed using the special G/L method in the SAP System. When posting a bill of exchange receivable, you normally clear open items or post the payment as a payment on account. The system posts a bill of exchange receivable to the customer account and reduces the receivables from goods and services on the reconciliation account. The bill of exchange receivable is also automatically posted to the special G/L account for bills of exchange receivable in the general ledger. You can monitor the existing bill of exchange receivable at any time via the customer account. The special G/L account for bill of exchange receivables shows you the total amount of bill of exchange receivables that exist for the customers represented in this account. Bills of exchange receivable are not canceled until they have been cleared. Once you have presented the bill of exchange to a bank for financing, you post the bill of exchange usage. You now have a bill of exchange liability since, as a drawer, the bank has liability to recourse if your customer fails to honor the bill. This potential liability is posted to a bank sub account and deleted once it has expired. If you wish to pass on bills of exchange to a bank, the presentation list required can be created automatically. If you like, you can also arrange for bill of exchange usage to be posted automatically or for posting to be prepared. This only applies to bills of exchange posted before the due date of the invoice, as is the case in Italy.

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD Once the bill of exchange is due for payment and any protest period has elapsed, you can cancel the bill of exchange receivable and the bill of exchange liability. You can define a country-specific bill of exchange protest period in Customizing. Bill charges are normally passed on to the customer. The system posts these amounts to the customer account and the corresponding revenue accounts. For bank bills and bill of exchange payment requests, there are certain special features that must be borne in mind when drawing-up and posting these items. Bank bills and bill of exchange payment requests are most common in Spain, France, and Italy. Bills of Exchange of Usage If the Bill of Exchange is used for refinancing and is passed on to a bank then the bills of exchange usage must be posted. Bank Account Discounting Account To Bills Discounting Accounting Dr Dr Cr

Create General Ledger Accounts (T. Code FS00) Menu Path >Accounting >Financial Accounting >General Ledger >Master Records >Individual Processing >Centrally > Enter GL Account Number, Account Group, Select balance sheet account radio button, Enter short text and long text and Click on control data Select Customers (Recon. Acct type for Acct. Type) Select line item display Sort key 031

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

And click on create / bank / interest

Click on create / bank / interest Field status group G067 Save Cancel the BOE Liability Once the due date of the BOE has elapsed, you can cancel the BOE receivable for your customer and the Bills of Exchange Liability.

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD To Post Bills of Exchange Receivable you require the Following a) Special GL Account (Bills of Exchange) b) Creation of Creditors to be defined for the Special GL transactions, whether it is to be taken into account in the credit limit check. c) Certain conditions to be specified for Bill Charges and Sales / Purchase Tax Posting Keys, Accounts and Account Assignments for further Automatic Postings. Bills Discounting Accounting (T. Code FS00) Menu Path >Accounting >Financial Accounting >General Ledger >Master Records >Individual Processing >Centrally >

Double Click on it

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

Link Between Sundry Debtors and Bills of Exchange (T. Code OBYN) Menu Path >SPRO >Financial Accounting >Bank Accounting >Business Transactions >BOE Transactions >BOE Receivables >Post BOE Receivables >Define Alternative Recon. Acct for Bills of Exchange Receivables >

Select D & W and double click on it

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

Enter Chart of Accounts

In the Recon. Acct field (Enter Accounts Receivables Account) In the Special GL field (Enter BOE Receivables Account) and save

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

Link between Bank C/A, Sundry Debtors Account & Bank Bills Discounting (T. Code OBYK) Menu Path >SPRO >Financial Accounting >Bank Accounting >Business Transactions >Bills of Exchange Transactions >BOE Receivable >Present Bills of Exchange Receivable at Bank >Define Bank Sub Accounts > Click on process button

Enter Chart of Accounts

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

In the Bank Acct field (enter bank sub account) Usage (discounting) In the Special GL field (W) In the Customer Recon. Acct field (enter Accounts Receivables Account) In the bank sub account for liabilities field (Enter Bills discounting Account) AND SAVE Customer Sales Invoice (T. Code F-22) Menu Path >Accounting >Financial Accounting >Accounts Receivable >Document Entry >Invoice General >

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

Bills of Exchange Receipt (T. Code F-36) Menu Path >Accounting >Financial Accounting >Accounts Receivable >Document Entry >Bills of Exchange Payment >Payment

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

In this activity the following accounts are affected Dr Cr Bills Receivable Account Accounts Receivable / Customer Account

Document Date, Posting Date, Doc. Type DZ, select incoming payment (Radio Button) Posting key will be 09 (automatically selected), Special GL Credit Enter customer account

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

Amount, Due on (Current Date + 90 Days), Planning Usage (DDiscounting), Drawer(Company Name), Drawee (Customer Name) Automatically displayed, Domicile (address of your bank), Choose Green Tick Button Choose Process Open Item Button

In the special GL Indicator Field (W) Select automatic search check box Click on process open items

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

In fact here, we have entered insufficient amount to clear that is the reason the system has given the above message, if you have noticed.

Simulate and then you will be able to see the line items of the BOE Payment

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

By choosing the special GL account the system knows that a BOE is to be posted on a separate entry screen. Simultaneously, the system posts automatically to the special GL determined by the special general characteristics. Choose Green Tick Continue Button, to skip any warning message and choose button again The number of discount days is calculated from the difference between issue date and due date. Note that the cash discount has to be deactivated Position your cursor on the gross amount and choose items (activate items) Choose Document > Simulate > Display overview screen appears Double Click on the first item > you can see the bill of exchange in detail Choose save button Note the document number Choose the back button In the edit dialog box choose YES DISCOUNTING The bill of exchange will now be forwarded to bank for refinance (discounting). In the following scenario, you post the bill of exchange usage (manually) as soon as the BOE amount is credited to your account. The incoming money is posted to the account and the BOE. Charges are posted to the respective expenses account. The revenue posting is alone done by the system automatically. This posting is made to BOE liability account (Bank Sub Account). In this activity the following accounts will be affected. Debited Credited Bank Account Bills Discounting Account

Bills of Exchange Discounting (T. Code F-33)

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD Menu Path >Accounting >Financial Accounting >Accounts Receivable >Document Entry >Bills of Exchange >Discounting Double Click on it

Document Date, Company Code, Currency / Rate, Trading Partner, Usage (discounting), Value Date (Current Date), Bank Account (GL Bank Sub Account), Amount, Bank Charges (Charges + Discount Charges)

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

Enter the following Data Document Number (document number of the BOE), Fiscal Year (Current Year), choose the overview button (the system displays document overview), save and choose back button, in the dialog box choose YES Choose Select BOE and to skip any warning message choose Green Tick Button

Reverse Contingent Liability (Transaction Code F-20) Menu Path >Accounting >Financial Accounting >Accounts Receivable >Document Entry >Bills of Exchange >Reverse Contingent Liability >

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

GL Account (Bills of Exchange), Usage (Discounting), Due by (End of the Due Period), Document Number (Which BOE is not been paid), Customer account

Enter Document Header Data, Enter General Ledger, Enter the usage, Enter Due date for bills of Exchange

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

Choose Edit Lines Position cursor on the item you want to select, if the item is not activated choose on / off Choose document post / Choose back button and / In the dialog box choose YES This is the date that has been given while entering bills of exchange receipt. Select Edit Line Items Enter + in the First Column View Customer Wise / Due wise Bills of Exchange Menu Path >Accounting >Financial Accounting >Accounts Receivable >Periodic Processing >Bills of Exchange Processing >Korea >S_ALR_87012213 >Bills of Exchange Management

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

Enter chart of accounts, GL Account (BOE), Company code, Spl. GL Indicators (W), BOE usage (D)

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

Bill Charges and Account Determination or Assignment (T. Code OBYH) Menu Path >SPRO >Financial Accounting >Bank Accounting >Business Transactions >Bill of Exchange Transactions >Bills of Exchange Receivable >Post Bill of Exchange Receivable >Define Accounts for Bill of Exchange

Please make sure that you have created GL Accounts for Collection Charges, Discount Charges and assign these accounts to the relevant transaction keys.

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Go to menu bar item edit In the Dialog Box From = INT To = Your Company Code

BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD Copy Rules

Select each item of description and assign General Ledger Account for each transaction key. Bank Discount Charges BDS / Bank Collection Charges BIK Bank of BOE Tax BWS / Revenue from Discount Charges DSK Revenue from Collection Charges INK / Revenue from BOE Tax WST

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

Enter GL Account Number (for the above account) and save

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

Double Click on (Transaction Key - BIK) Enter GL Account Number

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

Prepare BOE Charges Statement (T. Code OB73) Menu Path >SPRO >Financial Accounting >Bank Accounting >Business Transactions >Bills of Exchange Transactions >BOE Receivables >Prepare BOE Charges Statement >

Click on process button Select new entries

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

Enter Company Code Enter Discount Rate Enter Letter of Credit Charges Enter Tax Code (if you have one) Enter Bills of Exchange Tax Code (if you have one) and save

AR Interest Calculations

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD Prepare interest on arrears calculation (T. Code - 0B82) Menu Path >SPRO >Financial Accounting >AR & AP >Business Transactions >Interest Calculations > Interest Calculation Global Settings >Prepare Interest on Arrears Calculation >

Click on process button

Click on New Entries

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

Enter interest indicator for arrears of interest Enter calendar type G and save AR Arrears Interest Posting (T. Code OBV1) SPRO >Financial Accounting >AR & AP >Business Transactions >Interest Calculations Posting >AR Calculation of Interest on Arrears > >Interest

Click on Accounts button

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

Enter Chart of Accounts then the screen will displayed

Click on Accounts and in the Acct Symbol column Give 0001 (Interest Received) and in the currency field (GBP) and in the GL Account Column enter General Ledger Account for (Interest Received / Receipt)

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

Save

A/R Balance Interest Calculation (T. Code OBV3) Menu Path >SPRO >Financial Accounting >AR & AP >Business Transactions >Interest Calculations > Interest Posting >AR Balance Interest Calculation > Click on process button

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

Click on Accounts Button Enter Chart of Accounts Press enter key

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

In the account symbol field enter 0001 (interest received) and in the currency Column GBP, in the GL Account Field enter account for (Interest Received) and save

Assign forms for Interest Indicators SPRO >Financial Accounting >AR & AP >Business Transactions >Interest Calculation >Interest Posting >Assign forms for interest indicators > Click on process button

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

Click on New Entries Button

Then enter Interest indicator (for Balance As well as for Arrears) and company code, in the form field Enter F_DUZI_01 and save.

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD

Interest Run (T. Code F.2A / F.2B / F.2C / F.24 / F.26) Easy Access >Accounting >Financial Accounting >Accounts Receivable >Periodic Processing >Interest Calculation >Arrears Interest >F.2A (without Open Items)

Double Click on it Enter customer account Company code Calculation period from 01.04.2005 to 31.03.2006

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BILLS OF EXCHANGE TRAINING MATERIAL SAP SCHOOL & SOLUTIONS LTD In the Interest indicator column (Arrears Interest indicator) has to be assigned

Click on execute button

In fact the system has to give you the report of interest calculations on the customer account you selected but in this screen it shows that the list is not generated. That means there are no items available on which the interest has to be calculated.

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