Skip to Content
Oct 26, 2015 at 08:53 AM

Bill of exchange in TRM


Dear Experts,

My customer has the below cycle.

If for example the company made a contract with the bank for loan (Interest rate instrument - 55A) with 1,000,000 for 5 years and the interest for the whole contract is 200,000.

The bank then make the customer sign a bill of exchange for the whole amount 1,200,000.

How to record that on the G/l level if the TBB1 transaction only book the below entry at the beginning of the contract

Dr. Bank 1,000,000

Cr. Notes payable - Loan 1,000,000


Ahmed Samir