Unpaid Bills Receivable

On the bill receivable maturity date, the drawee is expected to pay the bill. If payment isn't received, you should mark the bill as Unpaid.

You can mark a bill receivable as Unpaid under the following statuses and with the related conditions:

• Pending Remittance, and the bill receivable wasn't selected for remittance, placed on hold, or reserved by another bill receivable pending acceptance.

• Standard Remitted, and the bill receivable has matured.

• Matured Pending Risk Elimination.

• Closed, and the bill receivable has been matured as well as paid by one receipt.

• Protested.

When you mark a bill receivable as Unpaid, the status of the bill is updated to Unpaid and the open balance is recorded as a debit to Unpaid Bills Receivable.

Receivables performs these additional actions depending upon the previous status of the bill:

• If the bill is Matured Pending Risk Elimination, Receivables reverses the receipt created when the bill was factored with recourse.

• If the bill is Remitted or Factored with Recourse and then Closed as Unpaid, Receivables reverses the receipt created as a result of the remittance.

You can later remove a bill receivable from the Unpaid status by using the Restate action. When you restate a bill receivable, Receivables reclassifies the bill from Unpaid to Pending Remittance.