What are the characteristics of electronic commercial drafts?

The characteristics of electronic commercial bills: all electronic records and circulation; Bill operations are carried out through the network of banks or financial companies; Electronic signatures replace signatures; The bill information is stored in the electronic draft system of the People's Bank of China ECDS; Ticket information can be queried through online channels.

Characteristics of electronic commercial draft business.

1.Electronic commercial drafts are completely paperless.

Bills are recorded, circulated and processed electronically;

Replace signatures with electronic signatures to prove the true intentions of the parties;

2.Expanded functionality of commercial bills.

The payment period of electronic commercial draft is extended to one year, breaking through the limitation that the payment period of paper commercial draft is only six months, and preparing conditions for the active short-term financing market;

It is expected to promote the marketization of short-term financing interest rates of various maturities in the one-year period.

3.Enterprises access ECDS is facing the national market.

Electronic messages are delivered instantly, breaking through the limitations of time and space;

The counterparty is no longer limited to the connecting bank and its customers, but can also be traded between any two enterprises or financial institutions connected to the ECDS;

4.Other features:

When the ticket is issued, the drawer can carry out the "withdrawal of the ticket" operation before the bill is finally signed by the drawee;

The system supports enterprises to register themselves and inquire about the credit information of counterparties;

The bill information is comprehensively recorded, and the business information and circulation information are recorded as the information on the back of the bill;

Support buyer interest payment, third-party interest payment and repurchase discount, which makes it possible to discount without opening an account;

Supporting the centralized management of group bills - The People's Bank of China stipulates that in order to facilitate the centralized management of group bills by group enterprises with financial companies, member units can directly endorse and transfer the bills to the group company.

a.Compared with paper commercial drafts, electronic commercial drafts have the following characteristics:

b.substitution of physical instruments in the form of data messages;

c.replacing physical signatures with electronic signatures;

d.Replace manual physical transmission with network data transmission;

e.Computer entry instead of manual writing;

f.The payment term has been extended from a maximum of six months to one year.

Its most important feature is that the electronic and paperless commercial bills of exchange, issuance, circulation, cashing, etc. are carried out in electronic mode, and there is no commercial draft in physical form.

Electronic commercial bills are divided into electronic bank acceptance bills and electronic commercial acceptance bills. The electronic bank acceptance draft is accepted by the bank or finance company; Electronic commercial acceptance bills are accepted by legal persons or other organizations other than banks and finance companies.

Electronic commercial draft, refers to the People's Bank of China unified promotion, in the form of data message production of commercial draft. The issuance, circulation and payment of electronic commercial drafts are completed by relying on the electronic commercial draft system developed and constructed by the People's Bank of China. Compared with paper commercial bills, electronic commercial bills replace physical bills in electronic form, replace physical signatures with electronic signatures, replace manual transmission with network transmission, and replace manual writing with computer entry.

According to the different acceptors, it can be divided into: electronic commercial acceptance bill, electronic bank acceptance draft. (From: Commercial Ticket Circle).

Electronic commercial draft is a special form of commercial draft, and now there are more enterprises choose to use electronic commercial draft for transactions. So what are the specific characteristics of electronic commercial drafts?

All elements of an electronic bank acceptance are recorded electronically and circulated through the bank's systematic channels. Transactions can be done without leaving home, with fast payment and zero bills and collections in transit.

Used to collect payments. Directly prompt the holder to pay the acceptor of the bill in the electronic bill system, there is no defect in the bill, there is no possibility of refund, and the payment can be made on the same day.

Invoicing. All invoicing operations are carried out in online banking, and the invoice can be directly sent to the wire transfer account of the ** merchant after successful invoicing, and the invoicing time can be shortened to 1-2 days.

Endorsement. The invoice endorsement only needs to be submitted by logging in to the online banking, and after being processed by the bank, the merchant can immediately log in to the online banking to sign for the invoice and receive the payment.

Parties to a commercial bill.

Commercial bills generally have three parties, namely the drawer, the payee and the payer.

The first is the drawer, when the industrial and commercial enterprise needs to use the commercial draft, it can become the drawer. The main difference between a commercial draft and a bank draft is that the drawer of a bank draft is a bank, and the drawer of a commercial draft is an industrial and commercial enterprise.

Second, the payee is the person who actually receives the amount of the bill of exchange stated on the commercial draft.

Thirdly, the payer, that is, the person who actually pays the amount of the commercial bill. It has the following scenarios. a。

When the drawer is the debtor, its relative creditor becomes the payee of the bill, and the relative creditor can hold the bill to the drawer's bank to prompt acceptance, and the bank will pay on behalf of the drawer's bank deposit, and the drawer is the actual payer; or according to the agreement with the drawer, the creditor reminds other industrial and commercial enterprises that have a financial relationship with the drawer for acceptance, and the industrial and commercial enterprise reminds the creditor and becomes the actual payer; b When the drawer is a creditor, its relative debtor, after receiving the bill, may hold the bill to its bank to accept and provide sufficient funds, and the bank shall pay the drawer on behalf of the debtor from the debtor's bank deposits, and the debtor is the actual payer. Or according to the agreement with the drawer, the debtor shall show the received bills to other debtors according to the agreement with the drawer, the received bills to other industrial and commercial enterprises with which it has capital exchanges, and then return the accepted bills to the drawer, and the drawer pays the drawer and becomes the actual payer.

Electronic commercial draft due to the development of electronic technology and has been fully developed, so electronic commercial draft compared with commercial draft, what are the specific advantages?

Advantages of electronic commercial drafts.

Benefits for payers: Payers do not need to settle with the bank before the payment due date of the commercial draft. This frees up cash for the payer before the payment due date, which is one of the reasons why commercial bills of exchange are a popular payment method in China today.

Benefits for the beneficiary: Funds are not cleared on the beneficiary's account until the bill of exchange payment date, extending the time required for cash receipt and cash conversion caution. Discounting and transferring bills of exchange is a viable option for releasing cash as soon as possible, but discounting comes at a cost and the payee's own merchant may be reluctant to accept the transfer of the bill.

Therefore, the impact of cash flow is one of the considerations for the payee when deciding whether or not to accept a commercial draft as a payment method.

What is a commercial draft?

A commercial draft is a kind of instrument issued by the drawer, and the payer is entrusted to pay a specific amount of money to the payee or bearer unconditionally on a fixed date in the future. Commercial bills of exchange can be divided into two types: bank acceptance bills and commercial acceptance bills.

Accounting entries for discounting commercial bills.

Borrow: Bank deposit.

Finance Expenses. Credit: Notes receivable.

What is a note receivable?

A bill receivable is a written voucher issued by the payer or payee, accepted by the payer, and unconditionally paid when due. Bills receivable are divided into commercial acceptance bills and bank acceptance bills according to different acceptors, and are divided into interest-bearing commercial bills and non-interest-bearing commercial bills according to whether they are interest-bearing. Commercial bills can be endorsed and transferred in accordance with the law, or they can apply to the bank for discounting.

Notes receivable belong to asset accounts, which are generally set up.

Notes receivable. account for accounting. A bill receivable is a written voucher issued by the payer or payee, accepted by the payer, and unconditionally paid when due.

Electronic commercial draft is to refer to the drawer relying on the People's Bank of China to develop and build the electronic commercial draft system (electronic commercial draftsystem, referred to as ECDS), in the form of data messages, entrusted to the payer on the specified date unconditionally pay the determined amount to the payee and the bearer of the bill.

Electronic commercial draft system, abbreviated as ECDS, refers to a comprehensive business processing platform approved by the People's Bank of China, relying on network and computer technology registration, ** electronic commercial draft data message, providing services related to electronic commercial draft currency payment, and capital settlement behavior, and providing paper commercial draft registration, inquiry and commercial draft (including paper, electric mask modified commercial draft) public ** service.

In the era of gradual digitization, in addition to the accounting books can be digitized, commercial bills have also kept up with the times. So what does an electronic commercial draft mean?

The meaning of electronic commercial draft.

Electronic commercial draft is the drawer in the form of data message production, entrusted payer on the specified date unconditionally pay the determined amount to the payee or bearer of the bill, that is, the electronic commercial draft. It can be pledged, transferred, collected, discounted and other behaviors like physical bills. The applicable objects are mainly enterprises and institutions across the country.

Electronic commercial draft has the following characteristics:

1, the advantage of electronic commercial draft is to issue and circulate in the form of data messages, and replace the physical signature with an electronic signature.

2, the payment term of electronic commercial draft has been extended from the current maximum of 6 months to 1 year.

Relevant knowledge of electronic commercial draft acceptance.

The commercial acceptance bill needs to be accepted when it expires, and the payment can be prompted within 10 days in advance. After the bill of exchange expires, the bearer can directly in the electronic bill system to the bill acceptor (bank acceptance bill issuing bank) prompt payment, if there is no defective bill, and there is no return of the electronic bill, the money can be received on the same day. If it is a paper bill of exchange, you need to bring the handling or person, financial seal, identity draft, official seal, business license, and legal person seal to the bank to fill in the bill and enter the account.

The business process of enterprise electronic bills.

It mainly includes the following types of business operations:

1. Enterprises apply for electronic bill business;

2. Enterprises apply for and issue electronic bills online;

3. Endorsement and transfer of enterprise electronic bills;

4. Enterprises apply for electronic bill discounting online;

5. Collect electronic bills and redeem them by the issuing bank;

6. Recourse and repayment.

What is the pledge of electronic commercial draft?

Mainly in order to provide security for creditor's rights, electronic commercial draft holders in the electronic commercial draft system registration before the maturity date of the instrument, to the instrument for the creditor to establish a pledge, which refers to the pledge of the electronic draft.

Electronic commercial draft pledge, the following matters must be recorded:

1) The name of the pledgor;

2) The name of the pledgee;

3) the date of the pledge;

4) the word "pledge";

5) Signature of the pledgor.

When the pledge of the electronic commercial draft is released, the following matters must be recorded in the smile:

1) The words "pledge release";

2) The date on which the pledge was released.