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

11.2.3.12 Outgoing Negotiation (Documentary)

Table 11-101 Stage

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

Table 11-102 Accounting Entries

GL Type A/C Type Dr/Cr Account Description CCY Amount
Real Income Cr Charges earned LCY 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 /Asset GL Cr Outgoing Bills Negotiated CCY Bill amount in the contract currency.
Real Nostro /Vostro Dr Nostro / Vostro Settlement Account CCY Equivalent amount of the Bill amount in the Nostro / Vostro Account Currency.

Table 11-103 Advices

Advice Type Advice Description
PAYMENT_ADVICE Payment Advice