SAP Ebooks

Bills of Exchange

Bills of exchange

This Process is applicable for accounting of bill of exchange & releasing payment against bill of exchange on due date.  The bill of exchange is a written “Acceptence” by the drawee to pay money to the payee.

Vendor Invoice booking through SAP T Code MIRO / FB60

Following is the entry at time of Bill booking.

GRIR / Expenses A/c Dr.
To Accounts payable – Domestic   Cr.

Bill of exchange payment – (SAP T Code F-40)

This process will transfer the outstanding amount from normal vendor reconciliation account to bills payable account with actual bill of exchange amount by selecting special G/L indicator (Bill of Exchange payable). Payable outstanding will still reflect under main vendor account with due date (as per bank) and with special G/L indicator.

Following is the accounting entry at time of F-40

Accounts Payable – Domestic  Dr.
To Bill of Exchange Payable  Cr. (with special G/L indicator)
To Discounting charges received  Cr.

Payment with printout Header Data – SAP T Code F-58

This process is used for releasing payment to payee (Bank) on due date.

Following is the entry at time of F-58

Bill of exchange payable A/c.  Dr.  (With Special G/L )
To Bank A/c.    Cr.

SAP T Codes to be used

F-40 : Bill of     Exchange Payment
F-58 : Payment with printout
FK01 : Vendor Master
F-04 : Post with Clearing

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