1 Trade Finance Liquidation Maintenance
Whenever you need to collect an ICCF component, availment amount, or the collateral amount, you debit it from the customer’s account. On some occasions, you may have to debit it from an internal receivable or payable GL, to be debited from the customer account at a later date.
The debiting of the receivable or payable account happens at the event for which the
commission or charge has to be collected (issue of a contract, amendment of a contract,
availment against an contract, etc.). When the customer account has to be debited at a
later date, you have to perform, what is termed as receivable liquidation. There are two
related functions associated with liquidation:
- A batch process that reverses the liquidated receivable components, for a contract that is reversed during the day (the LQ EOTI function)
- A batch process that generates the charge and commission claim advice to the party on behalf of whom a charge or commission was debited, from a receivable account during the day (the LQ EOD function)
- Trade Finance Receivable or Payable Online Details
This topic provides the systematic instruction to pass manual entries into LQ module and maintain additional entries into AR/AP LQ module. - Trade Finance Consolidated Liquidation Input
- Trade Finance Liquidation Tracers
- List of Glossary - Trade Finance Liquidation Maintenance