How can we use Bill of exchange portfolio for Vendor payments?

Typically, each branch of a business has its own portfolios, possibly with separate portfolios for long- and short-term bills respectively. Bills of exchange and checks cannot be stored together in the same portfolio – separate portfolios are required. Furthermore, you must store bounced instruments separately from others.

You can define any number of portfolios, depending on how you want to organize your bills, but in line with the above regulations, you need at least four, one for each of the following:

• Bills receivable
• Bounced bills receivable
• Checks receivable
• Bounced checks receivable