1. Islamic Bills and Collections User Guide
  2. Suggested Accounting Entries and Advices for Islamic Bills
  3. INIT - Initiation
  4. Incoming Acceptance (Documentary)

11.2.2.2 Incoming Acceptance (Documentary)

Table 11-36 Stage

Stage Clean / Doc Sight/Usance Bill Under LC
FIN DOC Usance only Optional

Table 11-37 Accounting Entries

GL Type A/C Type Dr/Cr Account Description CCY Amount
          Equivalent charge amount in LCY
Real Customer/ Account Receivable Dr Customer/Charges Receivable. CCY Equivalent amount of charges in the charge currency if it is a Account Receivable else Equivalent amount of charges in Customer Account Currency
Real/ Contingent GL Dr CLFA Account CCY Bill amount in the contract currency.
Real /Contingent GL Cr CLFA Offset Account CCY Bill amount in the contract currency.
Real GL / Customer Cr Cash Collateral Account for Bills accepted under LCs CCY User input Cash Collateral Amount in the Cash Collateral Currency.
Real Customer Dr Cash Collateral payment Account CCY Equivalent User input Cash Collateral Amount in the Cash Collateral Currency.

Table 11-38 Advices

Advice Type Advice Description
PAYMENT_ADVICE Payment Advice
RESERVE_RELEASE Release of Reserve Advice
DOC_ARVL_NOTICE Document Arrival Notice
ACKNOWLEDGEMENT Acknowledgment Advice