The Bills Receivable Portfolio Management window lets you display bills receivable transactions according to your selection criteria, and provides you with many tools to review, update, and manage the entire life cycle of your bills receivable portfolio.

The life cycle of a bill receivable can vary from bill to bill. To manage your bills receivable, the following activities are available from the Bills Receivable Portfolio Management window:

• Accept
• Cancel
• Eliminate Risk
• Endorse
• Exchange
• Hold
• Protest
• Recall
• Reestablish Risk
• Release
• Restate
• Unpaid

Accepting a Bill Receivable
If a bill receivable requires drawee acceptance (status of Pending Acceptance), enter acceptance information after the drawee returns the signed bill.
The Acceptance Date and Acceptance GL Date must be on or after the bill issue date.
The acceptance GL date updates the bill GL date and the assignment GL date for the transactions that are exchanged for the bill.

Canceling a Bill Receivable
Cancel a bill receivable to return the debt to the transactions that were originally exchanged for the bill. You can cancel a bill that is Pending Acceptance, Pending
Remittance, or Unpaid. If the bill is Pending Acceptance, canceling the bill releases the exchanged transactions and has no accounting effect. If the bill is Pending Remittance
or Unpaid, Receivables unassigns the exchanged transactions and creates reverse accounting entries

Recalling a Bill Receivable
Recall a bill receivable that has been remitted or endorsed without recourse. Recalling a bill returns the bill to its earlier status of Pending Remittance or Unpaid. When you recall a bill that is Factored with Recourse, Receivables reverses the receipt(s) created when the bill was factored. When you recall a bill that is Endorsed with Recourse, Receivables creates a reversing endorsement adjustment.

Marking a Bill Receivable as Unpaid
On the bill receivable maturity date, the drawee is expected to pay the bill. If payment is not received, you should mark the bill as Unpaid. When marking a bill Unpaid, Receivables updates the status of the bill to Unpaid. The open balance is recorded as a debit to Unpaid Bills Receivable. In addition, Receivables performs different actions depending upon the status of the bill that you are marking as Unpaid:

• When you mark a bill that is Matured Pending Risk Elimination as Unpaid, Receivables reverses the receipt created when the bill was factored with recourse.
• When you mark a bill that is Remitted or Factored with Recourse and then Closed as Unpaid, Receivables reverses the receipt created as a result of the remittance.
• When you mark a bill that was Endorsed with Recourse and then Closed as Unpaid, Receivables reverses the endorsement adjustment

Eliminating Risk
You can eliminate risk on matured, factored, or endorsed bills receivable. When you eliminate risk on a factored bill receivable, Receivables reverses the short term debt entry and closes the bill. When you eliminate risk on an endorsed bill receivable, Receivables approves the pending endorsement adjustment and closes the bill.

Reestablishing Risk
You can reestablish risk on a bill that was previously eliminated from risk. When you reestablish risk on a Closed bill receivable that was factored with recourse, Receivables unapplies the receipt that was created when the bill was factored and applies the receipt to short term debt. The status of the bill is updated to Matured Pending Risk Elimination.
When you reestablish risk on a Closed bill receivable that was endorsed with recourse, Receivables reverses the endorsement adjustment and creates an endorsement adjustment pending risk elimination. The status of the bill is updated to Endorsed.

Endorsing a Bill Receivable
You can endorse a bill receivable and use it as payment against your supplier invoices. If you endorse the bill receivable with recourse, Receivables updates the status to Endorsed and creates a pending approval endorsement adjustment. If you endorse the bill receivable without recourse, Receivables closes the bill with an approved adjustment and updates the status to Closed.
Important: Additional steps are required in your Payables application to record the endorsement.

Restating a Bill Receivable
When you restate a bill receivable, Receivables reclassifies the bill from Unpaid to Pending Remittance.

Marking a Bill Receivable as Under Protest
In the collection process, the drawee may officially protest the bill receivable. During this time, you can mark the bill as Under Protest. There is no accounting impact.