1. Islamic Bills and Collections User Guide
  2. Suggested Accounting Entries and Advices for Islamic Bills
  3. LIQD - Contract Liquidation
  4. Outgoing Purchase (Documentary)

11.2.3.10 Outgoing Purchase (Documentary)

Table 11-97 Stage

Stage Clean / Doc Sight/Usance Bill Under LC
FIN DOC Sight only No

Table 11-98 Accounting Entries

GL Type A/C Type Dr/Cr Account Description Amount
Real GL Asset Cr Outgoing Bills purchased Bill Amount in Contract currency.
Real Nostro /Vostro Dr Nostro / Vostro Account of Settlement Equivalent amount of the Bill amount being paid in the Nostro/Vostro Settlement Account Currency.

Advices

None