Understanding Draft Collection
Draft collection represents the deposit of funds in the bank account.
The system records the deposits as having occurred on the journal entry G/L date that is specified in the processing options of the Draft Collection with Status Update program (R03B680). If you leave this processing option blank, the system uses the current date. However, if you specify a 1 in the G/L Date from Bank Account Float Day processing option, the system calculates the G/L date by adding the number of float days that the bank has set to the due date. To calculate the G/L date in this way, you must set up identically named versions of the Draft Collection with Status Update program (R03B680) and the Draft Collection program (R76A680).
You must run the Draft Collection with Status Update program in final mode so that all of the files are updated and the correct date for the collection of the drafts is used.
When you run the Draft Collection with Status Update program, the system changes the draft status of the draft records in the F03B13 table to 0 (Collected) and the draft is closed. If the R1 document had an open amount, the system removes the open amount and sets the pay status to P (paid).