A/R Draft Remittance

Use this form to record draft remittances for customers. You have two remittance options: drafts remitted for face value at the due date, or drafts remitted for immediate payment at a discount. Typically, you decide whether or not the draft will be remitted for face value at its due date, or remitted now for a discount. If it is directly remitted, the remittance will be posted and considered closed after receiving the bank statement. If the draft is discounted, the remittance will be posted, but you must manually change the status back to Remitted after posting to debit the bank cash account.

This transaction displays all draft payments that have been posted in due date order. You will select drafts based on their due date to update their status to Remitted or Discounted.