Understanding Draft Registers

You use a draft register to group drafts by bank account and to submit the drafts to the bank so that the bank can collect the funds from the customer's bank. When you create the draft register, you select the drafts that you want to remit to the bank for collection.

When you enter a draft, you specify the bank of deposit. You can specify a different bank of deposit when you create the draft register, if necessary. This ability enables you to specify one bank account for several drafts that are sent to the bank.

You can also specify the clearing days for checks when you enter drafts. However, when you create the draft register, you enter the clearing days that apply to all of the drafts in the draft register so that the draft register does not contain drafts with different clearing days.

Creating a manual draft register is an optional step. If you do not create a manual draft register, you can use data selection to select drafts when you run the Draft Remittance program (R76A8040).