What's the difference between holding and protesting a bill receivable?

Place a bill receivable on hold when you want to exclude the bill from remittance while you investigate information about the bill or about the transactions applied to the bill. You can only place bills on hold with the status Pending Remittance or Unpaid.

You can later release the bill receivable from hold and make it available again for remittance.

Mark a bill receivable as under protest if the drawee protests a bill receivable with the status Unpaid, for example, because of a disagreement as to the maturity date or of payments submitted. There's no accounting impact on a bill under protest. Once the protest is resolved, you can either mark the bill as Unpaid again or, if applicable, apply a customer receipt to the protested bill.