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SAP Bills of Exchange

1. A company sold goods to a customer and received a bill of exchange promising payment in 40 days. It discounted the bill with XYZ Bank for Rs. 70,000, receiving Rs. 63,000 after deducting Rs. 7,000 in bank charges. 2. The document outlines the configuration steps needed to account for bills of exchange in the accounting system, including creating general ledger accounts and assigning account assignments. 3. Examples are provided of the transaction codes needed for different steps in the process, such as sales invoice posting, bill of exchange payment, discounting, and reversing contingent liabilities.

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Vijay Ram
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341 views9 pages

SAP Bills of Exchange

1. A company sold goods to a customer and received a bill of exchange promising payment in 40 days. It discounted the bill with XYZ Bank for Rs. 70,000, receiving Rs. 63,000 after deducting Rs. 7,000 in bank charges. 2. The document outlines the configuration steps needed to account for bills of exchange in the accounting system, including creating general ledger accounts and assigning account assignments. 3. Examples are provided of the transaction codes needed for different steps in the process, such as sales invoice posting, bill of exchange payment, discounting, and reversing contingent liabilities.

Uploaded by

Vijay Ram
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Bills of exchange

Bill of exchange – Promissory Note

Promise to pay in future on a

 certain date

 certain amount of money

 If not paid, legal actions could be initiated

 PDC, bank guarantees, Notes

Sale > promised to pay in 40 days > working capital blocked > XYZ Bank > applied for

discounting for Rs. 70,000/- (selling the bill received on a lower rate)

Money received after deducting bank charges

Amt. received = 63000

Bank Charges = 7000

Total = 70000

After 40 days bank receives the amount from Customer for Rs. 70000/-

Configuration Steps:

1. Creation of GL Accounts
200112 - Sundry Debtors (B/E) – Current Assets
100302 - Bank Bill Discounting a/c – Secured loans (Liabilities)
400301- Bank Charges
2. Account Assignment
– T.Code: OBYN
– T.Code: OBYH
– T.Code: OBYK
3. End User testing
a) Sales Invoice – T.Code: FB70
b) BOE payment – T.Code: F-36
c) Discounting – T.Code: F-33
d) Reversal of Liability – T.Code: F-20

1. Creation of 2 G/L Accounts:

a) Sundry Debtors Bill of Exchange: under current assets loans and advances.

G/L Account No: 200111

Company code: 6310

Acct. group: Current Assets, Loans & Advances

Short text: Sundry Debtors (B/E)

Change G/L long text: Sundry Debtors - Bills of exchange

Recon. For a/c type: Customers

 Line Item management

Sort key: 031

Field status group: G067

Save (or) (Ctrl + s)

2) Bank bill discounting a/c: Under secured Loans

G/L Account No: 100302

Company code: 6310

Account group: Secured Loans

Short text: Bank bill discounting a/c

Long text: Bank bill discounting a/c

Select control data tab

 open item management check box


 Line Item display

Sort key - 001

Select create/bank/interest tab

Field status group: G001

 Post automatically only check box

Save

c) Link between Sundry Debtors and Sundry debtors Bill of exchange: T.Code
OBYN

Double click on bill of exchange receivable

Spl. Gl Indicator - w

Give the chart of accounts: 6300

Enter

Reconciliation a/c 200111 (Sundry Debtors)

Special GL a/c 200112 (Sundry Debtors B/E)

Planning level: FW

Save

d) Automatic posting for Bank discount charges: T.Code OBYH

Transaction – BDS

Description – Bank discount charges

Give the chart of accounts: 6300

Enter

Account: 400301 (Bank Charges) - Save


e) Link for Sundry Debtors Bank Current Account and Bank Bill discounting A/C:

T.Code OBYK

Select new entries button

Give the chart of accounts: 6300

Bank A/C: 200131 (HDFC Current Account)

Usage: Select discounting

Special G/L Integrator: W

Customer’s reconciliation Account: 200111

Sub account for Liability: 100302 (Bank Bill discount)

Save

Save in your request

END USER testing

a) Sales posting: (F-22)

Document date: 28.06.2021

Type: DR

Company Code: 6310

Posting key: 01
Accounts: 500000302 (Customer a/c)

Enter

Amount: 10000

Business area: 6311

Text: Sales inv posting for B/E testing

Enter

Ignore the warning message, press enter

Posting key: 50

Account No: 300000 (Sales Account)

Enter

Amount: ‘*’

Business area: 6310

Text: ‘+’

Document  Simulate and save (Note down the Doc. No)


b) Bill exchange payment: T.Code (F-36)

Document date: 28.06.2021

Type: DZ

Company code: 6310

Posting key: 09 (special G/L Debit)

Give the customer A/C: 500000302

Special G/L Indicator: W – Press Enter

Give the amount: 10000

Business Area: 6311

Text: bill of exchange payment

Due on: 30.06.2021

Planned usage: Select, discounting

Domicile: HDFC

Central bank location: Main branch, Visakhapatnam

Select choose open items button

Select process open items button


Double click on receivable amount: 10000

Save & Note down document no.

c) Bill of exchange discounting: T.Code (F-33)

Give the document date: 28.06.2021

Type: DA

Company code: 6310

Give the bank account: 200132 (HDFC Incoming a/c)

Business area: 6310

Amount: 9000

Text: HDFC Bill discounting

Press select bill of exchange button

Give the document No: noted in F-36

Document  Simulate and save

d) Reverse contingent liability: T.Code F-20

Document date& posting: 28.06.2021

Type: DA
Company code: 6310

Currency: INR

G/L Account No: 200111 (Sundry Debtors bill of exchange)

Usage: Select discounting

Due by date: 30.06.2021

Customer: 500000302

Select edit line items button

Ignore warning messages: Press enter

Select drop down button for currency field

+ is set item to active

++ set items in block to active

- set items not inactive

-- set items in blocks to inactive

Select + set items to active

Save

From the menu select document display.


If bill is dishonored:

If bill is dishonored your contingent liability becomes actual liability

Pass the all the entries previous and pass entries (F-22)

01 Customer a/c………….Dr

50 HDFC Current a/c…….Cr

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