5 Liquidation of Receivable Components of Islamic Bill
The components of a Murabaha bill can be liquidated either automatically or manually. The receivable components of a Murabaha bill, however, will have to be liquidated manually. This is because when a component is due from a customer, and the customer is unable to pay, you debit your profit receivable account and credited the income account. When the customer pays you can liquidate the receivable outstanding components of the bill through the Receivable Liquidation screen.
Through this screen you can:
- Manually liquidate the receivable components of a bill
- Reverse the liquidation of an outstanding receivable component
This topic contains the following sub-topics:
- Liquidate Outstanding Components of Bill
- Reverse Liquidation Entries
- List of Outstanding Items Report
- Liquidation of Overdue Components
- Document Arrival Details
- Liquidate Outstanding Components of Bill
This topic describes the systematic instruction to liquidate the outstanding components of a bill. - Reverse Liquidation Entries
- List of Outstanding Items Report
- Liquidation of Overdue Components
- Document Arrival Details