What is bill of exchange in SAP SBO - SAP Business One?

SAP Term: bill of exchange

• Component: SBO

• Component Name: SAP Business One

• Description: A promise to pay in the form of an abstract payment paper detached from the original legal transaction.

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• Key Concepts: 
  A bill of exchange is a financial instrument used in international trade. It is a written order from one party (the drawer) to another (the drawee) to pay a certain amount of money at a specified date. The drawee is obligated to pay the amount specified in the bill of exchange, and the drawer is obligated to accept payment when it is due. 
  
  How to use it: 
  In SAP Business One, bills of exchange can be used to facilitate payments between two parties. The bill of exchange can be created in the system and then printed out for signature. Once the bill of exchange has been signed by both parties, it can be entered into the system and tracked until payment is due. 
  
  Tips & Tricks: 
  When creating a bill of exchange in SAP Business One, make sure to enter all relevant information accurately. This includes the amount due, the date of payment, and any other details that may be required. Additionally, make sure that both parties sign the bill of exchange before entering it into the system. 
  
  Related Information: 
  For more information on bills of exchange in SAP Business One, please refer to the official documentation here: https://help.sap.com/viewer/product/SAP_BUSINESS_ONE/9.3/en-US/f8f2d7a7c9a14b6f8d3c2b5f1b3d7a4e.html