Specific Measures For Discounting Commercial Acceptance Bills Of Exchange

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. The following steps are taken.
(1) apply for discounting.
　　 Holder of bill of exchange The commercial bill of exchange will not be paid to the bank, apply for discount to the bank, fill in a five coupon "discount certificate", the bank will deduct the interest from the discount date to the date of maturity of the bill in accordance with the face value, and give the net amount of the face value after deducting the discount interest to the holder of the bill.
The basic format of the five way discount certificate is:
First (on behalf of the application), pay a summons to the bank for discount.
The second (income voucher) is handed over to the bank to make a summons for the account receipts of the discount applicant.
The third (income voucher) is handed over to the bank as a summons for discount interest income.
The fourth party (collection notifications) is sent to the bank for the discount applicant. Collection notification;
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.
The cashier of the discount unit should fill in the relevant contents of the above discounted documents according to the contents of the draft, such as the name of the discounted 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, account number and Bank of the acceptor, the size and amount of the draft. Among them, the discount applicant is the holder of the bill of exchange itself.
Discount bill type - is it a bank acceptance or a commercial acceptance?
The acceptor of a bill of exchange and the bank acceptance bill are the banks of the paying bank.
The commercial acceptance bill is the payment unit itself.
The amount of the draft (i.e. 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 discount of commercial draft is second and the third paper is different (thickness difference, pay attention to endorsement). After the bank has examined the matter correctly, the words "agree" are endorsed in the "Bank approval" column of the discount document, and the bank accounting department is affixed with the seal of the relevant personnel.
(2) Handling 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:
　　 discount rate - 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 for the discount denomination paid 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 received 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 the discount unit is equal to the discount amount minus the discount discount interest.
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 transfer the actual discount amount to the discount account.
The discount unit takes account of the total amount of cash paid in the bank's deposit receipts according to the fourth quarter of the discount documents returned by the bank.
(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.
The discount of commercial acceptance is due. There are several situations.
(1) if the payment unit pays the full amount of the ticket, the receivables should cancel the notes receivable in the reference book after the discount bank receives the ticket.
2. When the deposit unit is unable to pay the mature commercial acceptance bill, the discount will return the commercial acceptance bill to the discount unit and issue the special transfer summons. In the "cause of transfer", 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 transferred from the discount bank account.
When the discount bank receives the commercial acceptance bill and special transfer summons returned by the bank, the bank deposit payment voucher is prepared by special transfer summons. At the same time, recover the ticket payment immediately from the paying unit.
The entry is:
Borrowing: accounts receivable * * units
Loan: bank deposit
If the discount account is insufficient, the discount bank will convert the discount bill into overdue loan, return the commercial acceptance bill, and issue a special transfer summons. In the "transfer reason" column, "discount has been transferred." Overdue loans "In the words" discount unit ", the transfer voucher is compiled accordingly.
The entry is:
Borrowing: accounts receivable * * units
Loans: short-term loans