1. Islamic Bills and Collections User Guide
  2. Suggested Accounting Entries and Advices for Islamic Bills
  3. BDIS - Discounting
  4. Incoming Acceptance to Discount (Documentary)

11.2.6.1 Incoming Acceptance to Discount (Documentary)

Table 11-134 Stage

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

Table 11-135 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 Account Currency
Real Customer Cr Customer Account CCY Equivalent Bill amount in the currency of the Nostro /Vostro Account currency.
Real /Asset GL Dr Bill Acceptances Discounted CCY Bill amount in the contract currency.
Real /Liability GL Cr Profit Collected in Advance on Discounted Bills. CCY Discounted Profit amount in the contract currency.
Real Customer Dr Customer Profit Payment Account CCY Equivalent Discounted Profit amount in the 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.

Table 11-136 Advices

Advice Type Advice Description
PAYMENT_ADVICE Payment Advice

Parent topic: BDIS - Discounting