Record Drawee Acceptance of a Bill Receivable

When you complete a bill receivable that requires drawee acceptance, the bill is assigned the status Pending Acceptance with no accounting date specified. A bill receivable requires drawee acceptance if the Signed option is enabled.

After the customer drawee accepts the bill receivable, use the Accept action to record the acceptance. In the Accept window:

• Enter in the Date field the date that the customer drawee accepted the bill receivable. This date must be after the bill receivable issue date.

  The date that you enter becomes the date that the transactions are applied to the bill.

• If necessary, in the Accounting Date field, update the accounting date.

  This accounting date becomes both the accounting date for the bill receivable and the acceptance accounting date for the transactions applied to the bill. Receivables calculates the acceptance accounting date according to the open accounting period rules for the applied transactions.

After you accept the bill:

• Receivables records the first accounting for the bill.

• The applications reduce the amounts due on the related transactions.

• The bill receivable appears in the outstanding balance of the customer drawee.

• The bill is updated with the status Pending Remittance.