How To Handle The Discount Of Commercial Draft?

When a merchant's draft holder is temporarily short of funds, he can make a discount to the bank on the basis of the accepted commercial draft, so as to obtain payment in advance.

If a commercial draft holder fails to make a draft, he should follow the following steps:

(1) apply for discounting.

The holder of a bill of exchange should apply for a discount to the bank.

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The first couplet of discounted documents is submitted to the bank for discount, and the summons are paid; the second joint (income voucher) is handed over to the bank to make the discount application unit, the account income summons; the third (income voucher) is handed over to the bank to make the discount interest income summons; the fourth (collection notification) is handed over to the bank for the account of the discount applicant; the fifth (maturity card) is handed over to the accounting department according to the maturity date, and the maturity date is the discounted income certificate.

Its basic format is shown in table 4-15..

Table 4-15 discounted credentials (submission of application) 1

Fill in date, month, day and number.

Name of applicant discount bank number

Date of account invoice

Date of maturity of bank account

Bank acceptor (or bank) name account opening bank

The amount of the draft (that is, the discount amount) is RMB 10 billion yuan.

The discount rate is per month, the discount interest is 100 thousand $10 cents, the actual discount amount is $100 million $10 cents.

In accordance with the provisions of the "payment and settlement method", we will apply for a discount on the acceptance of the bill of exchange.

The discount bank applicant seals the bank approval officer, the credit officer's subject reexamines the account.

The cashier of the holder of the bill of exchange (i.e. the discounted unit) should fill in the relevant contents of the discount certificate on the basis of the contents of the draft, such as the name of the applicant, the account number, the Bank of the account, the type of the discount bill, the date of invoice, the date of maturity and the number of the bill of exchange, the name of the acceptor, the account number and the Bank of the account, the amount and the lowercase of the amount of the draft.

Among them, the discounted applicant is the holder of the bill of exchange itself; the type of discount bill refers to the bank acceptance or the commercial acceptance bill; the acceptor of the bill of exchange, the bank acceptance bill as the Bank of the paying bank, the commercial acceptance bill as the payment unit itself, the amount of the draft money (the discount amount) refers to the face value of the bill itself.

After completing the discount certificate, the bank seal will be affixed to the second bank of the first couplet discounted "applicant seal" and the commercial draft and the third party.

The bank credit department of the opening bank shall examine the bill of exchange and the discount Certificate in accordance with the relevant provisions. The key is to examine whether the applicant holds the bill of exchange, whether it is lawful to open a bank account, whether the bill of exchange is complete, whether the endorsement is continuous, whether the filling of the discount certificate is correct, whether the bill is valid during the validity period, whether the bank has been notified whether it should be discounted and whether it exceeds the scale of the credit and the affordability of the funds.

After the examination is correct, the words "consent" endorsed in the "Bank approval" column of the discount document are signed, and the bank accounting department is affixed with the seal of the relevant personnel.

(2) discount.

The bank accounting department reviews the contents of the bank credit department's review, and examines whether the bill's seal and stamping amount are authentic and effective.

After the review is correct, the discount rate, discount interest and actual discount amount shall be calculated and calculated on the basis of the regulations.

Among them, the discount rate is the monthly discount rate stipulated by the state; discount interest refers to the discount interest paid by the holder of the bill to the bank to apply for the discount face to the bank; the actual discount amount refers to the net amount of the draft amount minus the discount interest payable, that is, the actual amount of money paid by the holder of the bill after the discount.

According to the regulations, discount interest shall be calculated on the basis of the discount amount and the number of days discounted (from the day when the bank discounts the bill to the discounted unit to the day before the date of maturity of the bill and the discount rate).

Formula expression is:

Discount interest = discount amount * discount days * day discount rate

Daily discount rate = monthly discount rate: 30

The discount amount of a discount unit is equal to the discount amount minus the amount payable.

The formula is expressed as follows:

Real payment discount = discount amount payable discount interest

After completing the discount rate, discount interest and actual discount amount, the bank accounting department will give the discounted certificate to the discount unit as the account receivable, and pfer the actual discount amount to the discount account.

The discount unit is based on the fourth quarter of the discounted credential issued by the Bank of account, and the amount of the cash payment is used as the receipts for bank deposits. Its entry is:

Borrow: bank deposit

Credit: notes payable

At the same time, according to the discount interest, the accounting entries are:

Borrowing: financial expenses

Credit: notes payable

The discount is also recorded in the register of notes receivable.

Example: Dasheng company sells products to Daming company and obtains a commercial acceptance bill issued and accepted by Daming company. Its face value is 600000 yuan, the date of acceptance is April 8th, and the payment period is 6 months.

In May 22nd, Dasheng company applied for a discount to the bank because of its urgent need to apply the money to the bank, and the bank agreed to dispose it in May 23rd.

Assuming that the monthly discount rate of the bank is 6 per thousand, the discount days are 138 days (the method of calculation is: October 8th is the expiration date, from May 23rd to September 23rd is 4 months, because there are 31 days in 7 and 8 months, so four days are 122 days, and there are 16 days from September 24th to October 8th, so the total is 138 days).

The discount interest is =600000 yuan, 138 days, 6 per thousand, 12 yuan =16560 yuan.

The actual discount amount =600000 one 16560=583440 yuan.

The Dasheng company should compile the bank receipts receipts according to the fourth quarter of the bank's discount certificates. Its entry is:

Borrow: bank deposit 583440

Loan: notes receivable 583440

At the same time, the accounting entries for the pfer vouchers are compiled as follows:

Borrowing: financial cost 16560

Loan: notes receivable 16560

(3) the bill is due.

The bill is due to be liquidated by the discount bank through the opening bank of the paying unit, and the bill is recovered.

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No matter whether the payment unit has no payment or insufficient payment, the discount bank can obtain the ticket from the receiving bank, and will not be related to the receiving unit again.

The settlement procedures for bank acceptance discounts are shown in figure 4-5.

For a commercial acceptance bill, if the discounted bill is due, if the paying unit pays the full amount of the bill, the receivables should cancel the receivable in the reference book after the discount bank receives the ticket.

When the unit of payment is insufficient to pay the mature commercial acceptance bill, the discount bank will refund the commercial acceptance bill to the discount unit in accordance with the payment and settlement method, and issue a special pfer summons. In the "cause of pfer" column, it is stated that "no bill of interest has been received, the discount has been charged from your account", and the discount bill has been directly pferred from the discount bank account.

When a discount bank receives a commercial acceptance bill and special pfer summons returned by a bank, the bank deposit payment voucher is prepared by special pfer summons.

Borrowing: accounts receivable

Loan: bank deposit

At the same time, recover the ticket payment immediately from the paying unit.

If the discount account is insufficient, according to the payment and settlement method, the discount bank will convert the discount bill into overdue loan, return the commercial acceptance bill, and issue a special pfer summons. In the column of "pfer reason", the word "discount has been overdue", and the discount unit shall prepare the pfer voucher accordingly. Its entry is:

Borrowing: accounts receivable

Loans: short-term loans

Example: Dasheng company sells products to Daming company and obtains a commercial acceptance bill issued and accepted by Daming company. Its face value is 600000 yuan, the date of acceptance is April 8th, and the payment period is 6 months.

In May 22nd, Dasheng company applied for a discount to the bank because of its urgent need to apply the money to the bank, and the bank agreed to dispose it in May 23rd.

In October 8th, when the bill expired, Daming company had no money to pay the bill, the discount bank returned the commercial acceptance bill, and deducted the special pfer ticket from the company's account, and the financial department of Dasheng company made the bank deposit payment certificate accordingly. Its entry was:

Account receivable -- Daming company 600000

Loan: bank deposit 600000

If there is no payment on the account of the company, then the company can prepare the pfer voucher according to the special pfer summons from the bank. Its entry is:

Account receivable -- Daming company 600000

Loan: short-term borrowing 600000