1. Islamic Bills and Collections User Guide
  2. Suggested Accounting Entries and Advices for Islamic Bills
  3. BOOK - Booking
  4. Outgoing Discount (Final)

11.2.1.10 Outgoing Discount (Final)

Table 11-28 Stage

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

Table 11-29 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/fee currency if it is an Account Receivable else Equivalent amount of charges in Account Currency
Real Customer Cr Customer Settlement Account CCY Equivalent of the Bill amount in the Customer Account currency.
Real/Asset GL Dr Bills 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 Debit Account currency

Table 11-30 Advices

Advice Type Advice Description
PAYMENT_ADVICE Payment Advice

Parent topic: BOOK - Booking