11.2.3.10 Outgoing Purchase (Documentary)
Table 11-97 Stage
| Stage | Clean / Doc | Sight/Usance | Bill Under LC |
|---|---|---|---|
| FIN | DOC | Sight only | No |
Table 11-98 Accounting Entries
| GL Type | A/C Type | Dr/Cr | Account Description | Amount |
|---|---|---|---|---|
| Real | GL Asset | Cr | Outgoing Bills purchased | Bill Amount in Contract currency. |
| Real | Nostro /Vostro | Dr | Nostro / Vostro Account of Settlement | Equivalent amount of the Bill amount being paid in the Nostro/Vostro Settlement Account Currency. |
Advices
None
Parent topic: LIQD - Contract Liquidation