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

11.2.3.14 Outgoing Acceptance (Documentary)

Table 11-107 Stage

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

Table 11-108 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 /Contingent GL Cr CLFA Account CCY Bill amount in the contract currency.
Real /Contingent GL Dr CLFA Offset Account 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.
Real Customer Cr Customer Settlement Account CCY Equivalent Bill amount in the Customer Settlement currency

Table 11-109 Advices

Advice Type Advice Description
PAYMENT_ADVICE Payment Advice

Parent topic: LIQD - Contract Liquidation