Cash flow ➔ Miscellaneous ➔ Instrument status
It is possible to generate an overview of all letters of credit in your administration that have been received from your debtors. This enables you to quickly see the incoming cash flow through this payment instrument. You can also see whether the letters of credit in question are bankable. This makes it easier to decide what to do with receipts that have been received.
You can filter the payment instrument status that you want to display. To search for the payment instrument status, you need to define one or more of the following criteria and click Refresh. The payment instrument statuses that match the search criteria you have entered are then displayed.
Note: The descriptions in the following are based on having the Advanced: Instrument handling check box selected. You can find this check box at System ➔ General ➔ Settings ➔ Bank settings under the General section. Additionally, in this document, Letter of credit is selected at Type and Cash in is selected at Show.
Select a payment instrument to view the status. You can choose from Post dated cheque, Cheque, or Letter of Credit. In this document, Letter of credit is selected.
Note: The available criteria will change depending on your selection.
Type or select a payment date range to display the payment instrument status that falls within the range. Select the All check box for all payment dates.
Type or select a due date/maturity date range to display the receipts that fall within the selected date range. Select the All check box for all due dates/maturity dates.
Select Cash in or Cash out to be displayed in the payment instrument status.
Type or select a debtor account number to view the related instrument status. For more information, see Selecting accounts.
Select one that applies to the pyment instrument status you wish to view.
Click Advanced to display the advanced criteria. Click Simple to hide the advanced criteria.
Select the required option to group the instrument status by Cash instrument, General ledger, Account, Payment reference, Instrument no. or Details. The available options will change depending on your selection.
Select this check box to exclude settled letters of credit.
Note: This is available only if To be collected or Bank statement is selected.
Select this check box to exclude accepted letters of credit.
Note: This is available only if To be discounted is selected.
Select this check box to view all the bank statements.
Note: This is available only if Bank statement is selected.
Under this section, you will see different criteria depending on the selection you make at Show. The following descriptions describe the criteria if Cash in is selected.
Type or select an instrument number range. Select the All check box for all instrument numbers.
Type an amount range. Select the All check box for all amounts.
Type or select a statement/invoice date range. Select the All check box for all dates.
Note: You will see Statement date if either Received, To be collected, To be discounted, Bank statement, and Bounced is selected under the Range section. You will see Invoice date if either Invoices, Printed, or All is selected.
Type or select a cash instrument number to view the status. For more information, see Selecting cash iInstruments.
Type the payment reference number (of the payment made from the selected cash instrument).
Type a deposit/statement number for the letter of credit. This field changes based on the different options selected.
Note: You will see Statement number if Bank statement is selected under the Range section. For everything else, you will see the Deposit number.
Under this section, you will see details of the instrument status, payment reference, instrument number, transaction type, and others.
You may not see all the buttons on one screen. The buttons change according to your selection at Type, Group by and if you have selected Invoices, Printed, Received, To be collected, To be discounted, Bank statement, Bounced or All.
Click this to display the search results according to the defined criteria.
Click this to add a new note or to view existing notes for the selected account. Type a note, click Timestamp (optional), Save and then Close to exit.
Click this to display the debtor card. For more information, see Viewing debtor cards.
Click this to view the complete transaction of the selected line based on the internal reference number.
Click this to view the complete transaction of the selected line based on the customer reference number.
Click this to edit the debtor of the transaction.
Click this to display the Transaction screen. Information related to the purchase order/sales order such as the G/L number, our reference number, your reference number, debit and credit amount, and others will be displayed.
Click this to view further details of the payment instrument status.
Click this to block the transactions from further actions.
Click this to assign Own account, Payment date, Payment method, Instrument Number, and To Cash instrument to a debtor.
Click this to group the selected invoices manually or automatically based on Payment reference, Payment date, Own account, Payment method, Instrument number, or To Cash instrument. (This is not necessary for a single debtor).
Click this to display the summary report of the payment instrument statuses.
Click this to display the details of the selected letter of credit.
Click this to return to the previous screen. This button is available only after Zoom is clicked.
Click this to reverse the deposit date. The invoice will then be removed from To be collected or To be discounted, and will be displayed under Received.
Click this to settle the record of payments that have been collected. The button will then change to Unsettle. For more information, see Settling Bill of Exchange.
Click this to revert to the settled status.
Click this to confirm the letter of credit that needs to be discounted.
Click this to reject a letter of credit payments. The invoice can then be viewed at Bounced and will be displayed at Invoices.
Click this to indicate you have deposited the letter of credit payment into the bank. For more information, see Depositing Bill of Exchange.
Click this to select a layout and print the report on deposited amounts.
Click this after selecting a particular invoice (once you have received a letter of credit payment for an invoice). The invoice will then be removed from the results at Invoices and will be displayed at Received.
Note: After a deposit, the letter of credit may bounce. This can be due to several reasons such as the documents presented by the seller do not conform to the documents needed under the letter of credit, or the documents are not presented within the required time frame. In this case, a new letter of credit will be provided. When receiving the new letter of credit, a pop-up screen will be displayed where you can select Continue to receive the letter of credit using the same number as the bounced letter of credit or Use next available number to receive the letter of credit using the next available number. You then click Yes to proceed with your selection or No to exit and manually specify a new letter of credit number
Click this to print the payment slip of the invoice. The status will then change to “Printed”.
Note: Once this button is clicked, a pop-up screen is displayed where you can select a layout to be used. Thereafter, the VAT screen will be displayed where you can type relevant VAT information to be printed. The VAT screen is only displayed if the unmatched payment is allocated to the respective debtor.
Click this to delete the received letters of credit.
Click this to exit.