Understanding Draft Remittance
You remit drafts to the bank so that the bank can collect the funds from the customer's bank. You can remit the drafts that you selected when you created a draft register, or you can use data selection to select the drafts to remit. You must specify whether you are using a draft register in the processing options.
If you are not using a draft register, create a version of the Draft Remittance program. In the processing options for this version, specify the G/L bank account to which the drafts are remitted. Use the data selection for this version to select the drafts to be remitted to that bank account.
The remittance process creates a batch in the Batch Control Records table (F0011). When you post this batch, the system creates journal entries to debit the drafts remitted account that is specified by AAI RD2 and to credit the drafts receivable account that is specified by AAI RD1.
When you run the Draft Remittance program, the system changes the draft status of the draft records in the F03B13 table to 3 (Remitted - Cash or Discount) and changes the pay status of the R1 records in the F03B11 table to G (Draft Deposited not Due).
The draft remittance step is optional. You can run draft collection without having first run draft remittance.