Bills receivable transaction types indicate the type of bill receivable, such as accepted bill, promissory note, or unsigned bill, and define accounting and other attributes for bills receivable. You enter a transaction class of 'Bills Receivable' to enable the Bills Receivable tabbed region for entering bills receivable transaction type information.
Navigate to the Transaction Types window.
Select an operating unit and legal entity for this transaction type.
Enter a Name and Description for this bills receivable transaction type.
Enter Bills Receivable in the Class field.
Enter Print or Do Not Print in the Printing Option field.
Note: If you check the Signed box, then you must enter Print.
Enter an Application Rule Set for this transaction type. Receivables uses the rule set that you enter when receipts are applied against a bill receivable.
In the Start Date and End Date fields, enter the range of dates that this transaction type is active.
Open the Bills Receivable tabbed region.
In the Bills Receivable field, enter the account segment for open bills receivable with this transaction type.
In the Unpaid Bills Receivable field, enter the account segment for bills receivable with this transaction type that are unpaid at the maturity date.
Enter the default Format Program Name to use to format bills receivable for this transaction type. This field is mandatory if Printing Option is set to Print, or if the Signed box is checked.
In the Remitted Bills Receivable field, enter the account segment for bills receivable with this transaction type that were remitted to a remittance bank.
In the Factored Bills Receivable field, enter the account segment for bills receivable with this transaction type that were factored to a bank or other financial institution.
Use the Signed and Issued by Drawee boxes to identify the type of bill receivable for this transaction type according to the combinations in this table:
| TYPE OF BILL | Signed | Issued by Drawee |
|---|---|---|
| Requires acceptance | Checked | Unchecked |
| Issued by drawee | Unchecked | Checked |
| Unsigned bill | Unchecked | Unchecked |