How to Record Post-Shipment Loan Settlement
Records the settlement of a post-shipment finance loan using the proceeds received from an overseas customer.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash at Bank (Foreign Currency) | Debit | 48,000.00 | - |
| Post-Shipment Loan Liability | Debit | 50,000.00 | - |
| Accounts Receivable | Credit | - | 98,000.00 |
💡 Accountant's Note
This entry reflects the receipt of funds from the customer which are automatically applied by the bank to clear the outstanding post-shipment financing.
Practitioner & Systems Framework
💻 ERP Architecture
Use the bank reconciliation or treasury module to match AR receipts with loan repayments.
⚠️ Audit Flags
Open post-shipment loans beyond the expected AR collection cycle.
📄 Required Documentation
Bank credit advice and loan closure notification.
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