A bill of exchange is a formal, binding document which outlines the amount owed by a party, and when the amount is due. Bills of exchange typically involve the company and the customer’s banks to act as intermediaries for documentation and the payment itself.
Bills of exchange
When a bill of exchange is used as payment for an invoice in Dynamics 365, the customer account is credited. The debit transaction is made against the summary account specified on the customer posting profile for the bill of exchange. Methods of payment can be defined for bills of exchange which can define any payment fees required, and the remittance format required for the bank.