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

11.2.3.16 Outgoing Discount (Documentary)

Table 11-113 Stage

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

Table 11-114 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 Bills Discounted CCY Bill amount in the contract currency
Real Nostro /Vostro Dr Nostro / Vostro Settlement Account CCY Equivalent Bill amount in the currency of the Nostro /Vostro Account currency

Table 11-115 Advices

Advice Type Advice Description
PAYMENT_ADVICE Payment Advice