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

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 > > > .

  2. Create a journal.

  3. On the tab, 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 check box and select whether to create the new transaction as an open payment or as an invoice.

  5. Click the button.

  6. In the form, select the vendor account for the invoice and click > .

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

  8. In the form, click > .

    A new line with a status and a sequence number of 2 or greater is created for the promissory note and is shown in the inquiry form. In the inquiry form, the number in the row is increased, and the number in the row is decreased.

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

    Note 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).

See Also