11.2.2.5 Outgoing Payment
Table 11-45 Stage
| Stage | Clean / Doc | Sight/Usance | Bill Under LC |
|---|---|---|---|
| FIN | DOC | Sight only | Yes (Mandatory) |
Table 11-46 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 | Nostro /Vostro | Dr | Nostro / Vostro Settlement Account | CCY | Equivalent Bill amount in the currency of the Nostro / Vostro Account currency. |
| Real | Customer | Cr | Customer Account | CCY | Equivalent amount of the Bill amount being paid in the Customer Account Currency. |
| Contingent Liability | GL | Dr | Customer OCU Account | CCY | LC OCU decrement entry in the contract currency. This entry will be passed only if the Bill is under an LC confirmed by the Bank. |
| Contingent Offset | GL | Cr | GL Contingent Offset Account | CCY | LC OCU decrement offset entry in the contract currency. This entry will be passed only if the Bill is under an LC confirmed by the Bank. |
Table 11-47 Advices
| Advice Type | Advice Description |
|---|---|
| RESERVE_RELEASE | Release of Reserve Advice |
| REMITTANCE_LTR | Remittance Letter |
| PAYMENT_ADVICE | Payment Advice |
Parent topic: INIT - Initiation