Requirements for Completing a Bill Receivable

Use the Complete button to complete bills receivable transactions.

To complete a bill receivable, you must:

• Enter all required information for the bill.

• Apply transactions to the bill. Transactions must have the same currency as the bill, and all transactions must have the same conversion rate.

• Apply transactions to equal the designated amount of the bill, if applicable.

If the bill receivable requires drawee acceptance, completing the bill changes its status to Pending Acceptance. While a bill receivable has the status of Pending Acceptance, you can't perform any other activity on the transactions belonging to the bill, such as applying receipts, credit memos, or adjustments. When you receive written acceptance from the customer, you can accept the bill receivable.

If the bill receivable doesn't require drawee acceptance, completing the bill changes its status to Pending Remittance and these actions are performed:

• Record the first accounting for the bill.

• Reduce the amount due on the applied transactions.

• Assign the bill receivable to the outstanding balance of the customer drawee.

If you're using document sequencing, Receivables ignores the Document Number Generation Level Receivables system option and generates the document number when you complete the bill receivable. If the Copy Document Number to Transaction Number option on the bills receivable transaction source is enabled, then the document number and bill receivable number are the same.