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

11.2.3.9 Outgoing Payment

Table 11-94 Stage

Stage Clean / Doc Sight/Usance Bill Under LC
FIN DOC Sight only Yes (Mandatory)

Table 11-95 Accounting Entries

GL Type A/C Type Dr/Cr Account Description CCY Amount
Contingent Asset GL Cr Outgoing Bills under LCs paid LCY Bill amount in the contract currency.
Contingent Offset GL Dr Outgoing Bills under LC’S paid Offset Account CCY Bill amount in the contract currency.

Table 11-96 Advices

Advice Type Advice Description
PAYMENT_ADVICE Payment Advice

Parent topic: LIQD - Contract Liquidation