Hello Remya,
Though you have not told that whether you are talking about AR or AP draft processing.I will try to answer both.
See the thing is that whenever you get have credit terms of Post Dated Cheque with customer after shipment you will get PDC(Post dated cheque) which you have to show in your books but you dont want your Bank Account to get Debited for the same. In all such cases you have to keep that in account which is Cheque Collection Account.
So Cheque collection or Draft receivable account will have that many cheques.
Same principle of business applies in Account Payable if we buy anything on these terms & we are issueing cheques in March of dated in June/July then we don't want our bank account to show that much credit but still we have to make accounting entries for the same. SO here Draft Payable account will be the one which will have credit rather than actual bank account.
AR Draft Doc Type is R1 AP Draft doc type P1.
RDxx AAI you can use for AR Draft & PDxx AAI for Payable drafts.And you have to define account also for this one.
You have standard reports which you have to run on due dates which will update the draft in your GL bank account.
for AR from application P03B675 you can create pay in slip & you can update in bank by report R03B680.
In AP payment we can use same application which we are using regularly for payment & for entry in GL bank account on due date we can use R04803 report.
If at all you want anything in more detail do send me mail.
Thanks.
MANDAR.
