You can use the Redraw promissory note journalform to redraw a promissory note that has been previously honored by your bank. A new transaction is created that has a Redrawnstatus with reference to the honored promissory note.

Note
To complete the promissory note cycle, you must remit and settle the redrawn promissory note. For more information, see Remit a promissory noteand Settle a promissory note. You cannot redraw a promissory note that has been closed.

1. Click Accounts payable> Journals> Promissory notes> Redraw promissory note journal.

2. Create a journal.

3. On the Promissory notetab, you can select the bank account that was used when remitting the promissory note.

4. If you have already settled the promissory note with the invoice, select the Protest settlementscheck box and select whether to create the new transaction as an open payment or as an invoice.

5. Click the Linesbutton.

6. In the Journal voucherform, select the vendor account for the invoice and click Functions> Select settled promissory notes.

7. Select the check box in the Markcolumn for the honored transaction. Close the form to transfer the transaction to a journal line.

8. In the Journal voucherform, click Post> Post.

   A new line with a Redrawnstatus and a sequence number of 2 or greater is created for the promissory note and is shown in the Promissory note journalinquiry form. In the Promissory note statisticsinquiry form, the number in the History of redrawn documentsrow is increased, and the number in the Honored documentsrow is decreased.

   When the journal is posted, the Bank summary account is debited and the Remitted promissory notes summary account is credited.

   Note
   If you receive an error message that mentions posting restrictions, you might be set up to post only journals that you created. For more information, see Posting restrictions (form).