Financial Management: How To Issue And Honour Bank Acceptance Bills

The issuance and payment of bank acceptance bills generally include the following steps:

(1) sign the paction contract.

After negotiation, the two parties signed the commodity paction contract and marked the bank acceptance bill for settlement in the contract.

As a Credit Lender, if the other side's business credit is poor, or the credit situation of the other side is not very clear or confidence is insufficient, the use of bank acceptance bill is more reliable.

Because the bank acceptance bill is accepted by the bank and guaranteed by the bank credit, so it can ensure the timely recovery of the loan.

(2) issue of bills of exchange.

The payer shall issue a bank acceptance bill in accordance with the contract signed by both parties.

A bank acceptance bill is quadruplicate, the first union is a card, and a summons is payable at the time when the receiving bank pays the bill; the second is a summons made by the payee bank to collect money from the receiving bank; the third is the cancellation notice; when the payer opens the bank, the bank receives the ticket and sends it to the accepting bank, the acceptance bank performs the summons and the attachment; the fourth is the stub Union, and the issuing unit makes relevant vouchers.

In filling bank acceptance bill, the cashier of a paying unit shall fill in the full name of the bank acceptance bill, the account holder, the Bank of account, the amount of the bill, the date of maturity of the draft, the same number of the paction and so on, and affix the reserved bank seal and the seal of the responsible person and the agent in the first, second and third parties of the bank acceptance bill.

(3) acceptance of bills of exchange.

After paying the bank acceptance bill, the cashier of the paying unit shall check the relevant contents of the draft and the paction contract, fill in the "bank acceptance agreement" after checking correctly, and affixing the official seal at the "acceptance applicant".

The bank acceptance agreement consists of three elements, which are mainly the basic contents of the bill of exchange, the basic terms to which the bill should be followed after acceptance by the bank.

Above

Upon acceptance of the acceptance bank, the applicant (hereinafter referred to as the applicant) is willing to comply with the provisions of the "payment settlement method" and the following terms: 1. the applicant will pay the full amount of the bill payable to the receiving bank on the maturity date of the bill.

2. the acceptance fee is calculated at the face value of 1000 cents (), payable at the time of bank acceptance.

3. any acceptance of a draft shall be dealt with by the parties themselves if any dispute arises.

The ticket will still be processed according to the first clause before the expiry date.

4. the acceptance date is due, and the acceptance bank pays the bill unconditionally.

If the applicant fails to pay the full amount of the bill before the expiry date, the accepting bank will pay the overdue part of the bill to the applicant's overdue loan, and collect the penalty according to the relevant provisions.

5. this agreement will automatically lapse after payment of the acceptance bill.

The first, second part of the agreement is retained by the accepting bank's double loan department and the accepting applicant. The copy of the agreement is kept by the bank accounting department.

Acceptance Bank (Gai Zhang): acceptance date of applicant (Gai Zhang)

Note: this agreement is printed in triplicate. After the "bank acceptance agreement", the second joint printing 2, the third joint printing (duplicate).

After completing the bank acceptance agreement, the relevant personnel shall affix the seal of the reserved bank at the first and second joint acceptance of the bank's acceptance draft, and then submit the first, second, third, together with the paction contract and the first, second, and third connections of the bank acceptance bill to the credit Department of the opening bank to apply for acceptance.

The bank credit department conducts a review of the acceptance application in accordance with the relevant policy provisions, and focuses on whether the creditworthiness of the payment unit is reliable, and whether the commodity paction and commercial credit on the basis of the bill are in conformity with the regulations.

After examination and approval, the bank will sign the "bank acceptance agreement" with the payment unit upon approval of the relevant examination and approval authority, stamp the "acceptance bank" on the "bank acceptance agreement", and retain the first bank of the "bank acceptance agreement" to the bank credit department, and the rest to the payment unit.

The payment unit takes the first, second, third, and second bank acceptance banks which are returned by the bank credit department.

After the audit of the banking accounting department, the acceptance agreement number is specified on the first, second and third connections of the bank acceptance bill, and the special seal of the bank draft is added to the second draft bank "seal of acceptance bank". The amount of the draft is printed on the bottom of the lower limit of the amount of the "amount of the draft" by the unified pressure machine set by the head office, leaving the first (card) of the bank acceptance and the third (duplicate) of the acceptance agreement for reference, and the remaining units returned to the payment unit.

The paying unit will hand over the second bank acceptance bills, the third bank and the bank acceptance agreement second to the finance department, which is returned by the bank accounting department.

(4) pay the handling fee.

In accordance with the provisions of the "bank acceptance agreement", the payment unit shall pay the handling fee to the accepting bank by accepting the acceptance formalities, and it shall be withdrawn from the depositor of the paying unit by the opening bank.

In accordance with the current regulations, the bank acceptance fee is charged at 1/1000 of the face amount of the bank's acceptance bill. The fee of each fee is less than 10 yuan and is charged at 10 yuan.

When the payment unit pays the fees to the bank in accordance with the regulations, the bank deposit payment voucher shall be filled in. The accounting records of the payment unit shall be as follows:

Borrowing: financial expenses

Loan: bank deposit

(5) to send a bank acceptance bill.

The payment unit shall purchase goods from the supplier according to the terms of the paction, and send the bill to the receiving unit after the second and third party's bills of exchange are accepted by the bank, so that the recipient can collect the money at the due date or endorse the bill.

After paying the bill, the payment unit will prepare the pfer voucher. Its entry is:

Borrow: material purchase or merchandise purchase.

Credit: notes payable

When sending a bill of exchange, a cashier shall register the notes payable book at the same time, and issue the items of the bill (bank acceptance bill), the contract number, the number of the bill, the date of issue, the date of expiration, the unit of collection and the amount of the bill of exchange.

When the finance department receives the bank acceptance bill of the paying unit, it should prepare the pfer voucher according to the regulations.

Its accounting entries are:

Borrowing: notes receivable

Loan: sales revenue or sales revenue.

Payable tax - value added tax (output tax) payable

The cashier of the receiving unit hereby registers the "notes receivable reference book", and fills in the contents of the bill of exchange (the bank acceptance bill), the contract number, the number of the bill, the date of issue, the date of maturity, the face value, the paying unit, the accepting unit and so on.

The basic format of "notes receivable reference book" is shown in table 4-13..

(6) deposit of tickets.

In accordance with the terms of the bank acceptance agreement, the accepting applicant, the drawee, should pay the full amount of the bill to the Bank of account (i.e. the accepting bank) in full before the maturity of the bill, so as to pfer the money to the receiving unit or the discount bank on the maturity date of the bill.

The financial department of the payment unit should regularly check the bank acceptance agreement and the "notes payable reference book" which are kept in the special category, and deposit the full amount of the payable tickets in time.

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(7) entrust a bank to collect money.

The financial department of the receiving unit should also check the bank draft or the notes receivable book for safekeeping regularly to see if the bill is due.

At the expiration date of the bill, the payee shall fill in the two form of the consolidated bill of payment, and affix the seal of the reserved bank on the back of the second and third sides of the bank acceptance bill, and send the bill of exchange and the account to the Bank of its account to entrust an account bank to collect the money.

The bank opens the bank's acceptance bill in accordance with the relevant regulations. After the examination is correct, the first bill of payment is added to the "pfer payment" chapter as the collection notice, and the bill collection business is handled according to the regulations.

The receivables shall prepare the receipts for bank deposits according to the first joint receipts issued by the bank, and make the following accounting entries:

Borrow: bank deposit

Loan: notes receivable

At the same time, the date and amount of the acceptance should be registered in the notes receivable book, and be cancelled in the cancellation column.

In accordance with the regulations, the payment of the bank acceptance bill and the payment notice to the paying unit are made. The payment unit receives the payment notice from the bank to pay the due draft, and compiling the bank deposit payment voucher. Its entry is:

Borrowing: note payable: bank deposits are registered on the "notes payable reference book" and the date and amount of the payment due is cancelled.

If the bill is due and the applicant has no payment or insufficient payment, the accepting bank will continue to allocate funds to the Bank of the receiving bank, and at the same time, in accordance with the terms of the acceptance agreement, it will pfer the insufficient payment to the overdue loan account of the applicant, and impose a penalty on the insufficient payment of the fare every day.

According to the regulations, when the applicant has no money to pay, the accepting bank will send a special pfer summons. In the "pfer reason" column of the summons, it is stated that the words "no money to pay to the overdue loan" will be added to the bank business seal. When the accepting applicant is not paid, the acceptance bank will bring in two special pfer summons. In one column of the "pfer reason" column, it is stated that "the bill is insufficient due to insufficient deposits, and the unpaid part is pferred to the overdue loan".

When a payment unit receives a special pfer summons from a bank for payment without payment, it shall prepare a pfer voucher. Its entry is:

Borrowing: note payable: when a bank borrows a special pfer of a bank's summons due to insufficient payment, it should make a bank deposit payment voucher according to the paid item. Its entry is:

Borrowing: note payable: bank deposits are credited as credentials under insufficient payment.

Borrowing: note payable: bank borrowings are recorded in the notes payable memorandum.

For a penalty interest paid for or without payment, a bank deposit payment voucher should be issued when the bank's penalty notice is received. Its entry is:

Loan: loan outside the business: bank deposit. If the two sides agree to issue a bank acceptance bill by the receiving unit, the basic steps are as follows: first, the bank accepts the draft one to four by the receiving unit, and then the fourth party keeps the reference, and sends the first, second and third links to the paying unit, then the payment unit applies to the bank for acceptance, and the other steps are the same as the payment unit issuing the bill of exchange.

Related links:

A commercial bill is a note issued by a payee or a depositor (or a receiving applicant), who is accepted by the acceptor and paid to the payee or the endorser on due date.

According to the acceptor, commercial draft can be divided into two types: commercial acceptance and bank acceptance.

A commercial acceptance bill refers to a bill drawn or accepted by the payee, or issued and accepted by the drawee, which is issued by the payee. The bank acceptance bill refers to the draft issued by the payee or the accepting applicant and applied by the applicant to the Bank of the bank for examination and acceptance.

Commercial draft settlement refers to a bank settlement method that uses commercial bills to handle settlement of funds.

Compared with other bank settlement methods, commercial draft settlement has the following characteristics:

First, compared with bank draft, commercial bill of exchange has a relatively narrow scope of application. Only commercial pactions between commercial enterprises and institutions can be issued only if they are legally traded on the basis of purchase and sale contracts.

In addition to commodity trading, other forms of settlement, such as labor remuneration, debt repayment, capital lending, etc., can not be settled by commercial draft.

Second, compared with bank settlement, commercial bill of exchange is also relatively less used.

The commercial bill of exchange uses the legal person who opens accounts in the bank.

The payee, the payer, the endorser and the endorser must have two conditions at the same time: one is to open an account in a bank, the other is to have a legal person qualification.

Individual businesses, rural contractors, individuals, legal persons, and other units or individuals that do not have legal person qualifications or commercial entities may not be allowed to use commercial bills even though they have legal personality but do not have accounts opened in banks.

Third, commercial draft can be issued by payer or by payee, but it must be accepted.

Only commercial bills accepted will be legally valid, and the acceptor is liable for unconditional payment.

When a commercial bill is due, because the acceptor has no payment or any other lawful cause, the debtor can not get the payment, he may exercise the recourse right forward in accordance with the order of the endorsement of the bill of exchange, and recover the face value according to law; all the parties involved in the bill shall be jointly and severally liable.

The time limit for acceptance of a commercial bill is agreed between the two parties, usually 3 months to 6 months, and the longest period should not exceed 9 months.

Fourth, the unexpired commercial draft can go to the bank for discount, so that the settlement and bank financing will be combined, which is conducive to timely replenish the working capital and maintain the normal operation of production and operation.

Fifth, commercial drafts can be used in the same city and in different places, and there is no limit to the starting point of settlement.

Sixth, commercial bills will be registered and endorsed.

After the commercial bill expires, the bank will handle the pfer settlement, and the bank will not pay cash.

The time limit for presentation of commercial bills is 10 days from the date of maturity of the bill.