Description
BillOfExchange is a business object that represents the Bill Of Exchange table in the Banking module. Bill Of Exchange is a commercial document used as a payment method in Spain, Portugal, Italy, France, Belgium, and Chile.
Source table: OBOE.
Object Model
Remarks
Mandatory fields in SAP Business One: BillOfExchangeDueDate and PaymentMethodCode.
To display the form in the application:
- Select Banking --> Bill of Exchange.
- Select one of the Bill of Exchange sub-menus.
The OBOE table relates to Management, Transactions lines, Receivables, Payables, and Fund. For Management or Fund, set your criteria and then click OK.
Definition: A Bill of Exchange is a signed, written order prepared by one party (drawer) who instructs another party (drawee) to pay a certain sum to a third party (payee) at a due date.
The Bill of Exchange is used as a method of incoming or outgoing payment with a due date, as credit for the customer or as a flexible financing tool.
Process of incoming payments:
- The company prepares a payment requirement to send to the vendor (status: Sent). If the vendor approves, proceed to step 2, else the payment requirement is canceled (status: Canceled).
- SAP Business One generates a Bill Of Exchange (status: Generated).
- The company deposits the Bill Of Exchange in the bank (status: Deposit). (Reconciliation between the Bill Of Exchange and the bank can be done.)
- The bank pays the vendor (status: Paid). (Reconciliation between the Bill Of Exchange and the bank can be done.) If the payment succeeds the bank sends a payment confirmation to the company (in France only, the Bill Of Exchange status is changed to Closed). If the payment fails, the Bill Of Exchange status is changed to Failed.
Note: Perform steps 1 and 2 using the BillOfExchange object. Perform steps 3 and 4 using the BillOfExchangeTransaction object.
Process of outgoing payments:
- The company approves the payment requirement issued by the vendor and generates a Bill Of Exchange (status: Generated).
- The bank pays the vendor (status: Paid). (Reconciliation between the Bill Of Exchange and the bank can be done.) If the payment succeeds the bank sends a payment confirmation to the company (in France only, the Bill Of Exchange status is changed to Closed). If the payment fails, the Bill Of Exchange status is changed to Canceled.
Note: Perform step 1 using the BillOfExchange object. Perform step 2 using the BillOfExchangeTransaction object.