Draft Statuses

This table describes the draft statuses:

Draft Status	Description
Create	The draft master is created and waiting to mature or be printed. During the payment posting process, the AP (accounts payable) liability account is debited, and the draft payable account is credited.
Approve	The draft has been manually or automatically approved during pay cycle.
Due	The draft has reached maturity. During the payment posting process, the draft payable account is debited, and the cash account is credited.
Reconcile	Bank reconciliation has been performed, and the draft has been date stamped.
Cancel	The draft has been canceled, and no accounting entries have been created.
Write Off	The draft has been approved and posted, but draft collections or exchange of draft occurs before the maturity date settlement. You can specify the write-off account and write-off date. The maturity date settlement does not happen when the draft is written off.

The draft status determines the processing characteristics for the draft and also determines how the system generates accounting entries. Drafts in PeopleSoft Payables have their own type of accounting entry because your cash account should not be credited immediately. When a draft is created, a temporary account (draft payable) is credited until the draft is due or reconciled.

The accounting entry template defines draft payables accounts (such as draft - normal and draft - fixed asset) because you can associate multiple accounts with one bank or bank account. Draft accounts are defined at the bank account or bank account payment level.

PeopleSoft Payables assigns a document sequencing number to a draft whenever an accounting entry for a draft occurs so that you can track the life cycle of the draft payment.