Draft Management in Sage X3

By | July 27, 2018

With globalization, business and trading often use Promissory Note /Bills of Exchange/ Drafts. In Sage Enterprise Management, Draft Management functionality take cares of the Drafts within your accounting.

A bill of exchange is a binding agreement by one party to pay a fixed amount of cash to another party as of a predetermined date or on demand.

Today we are going to check the functionality of one of the Payment Term known as “Bills of Exchange”/Bills/Draft in Sage Enterprise Management under Draft Management.

Below are basic configuration setups for Draft Management in Sage Enterprise Management (formerly Sage X3).


1.1 Payment Entry Type

Create a New Payment Entry Type for Draft Management.

  • Under General TAB do the settings as Shown in Below Image.

payment entry

  • Under Entry Tab, Select the Group entry Payment grouping, Discount grouping and Journal Type as per the below Image.

bank posting sage x3

  • Under Treasury Tab, Select the Triggering event as Draft Management Posting.

payment master entry type

1.2 Payment Attributes

Path: – Setup->A/P-A/R accounting

  • Do a Setup for a New Payment Attributes for the Draft Receipts as shown in below Image.

Payment Attributes

1.1. Receipt

Path: – A/P-A/R accounting->Payment/Receipt entry

  • From Payment/Receipt Function select your Invoice from the left side panel of the screen against which we are going use this Payment Type and thereafter post the Transaction (Draft Management).

customer bill receipt


2.1: Accounts

Path: – Common Data->G/L accounting tables->General

  • Create a new GL code as per your Business process and mark it active.

Accounts Master


3.1 Accounting Code

Path: – Setup->Financials->Accounting code

  • Map your GL Code we created in above step with the Draft Receivable line for Type Customer.

Accounting Code


4.1. Draft Transfer

On the Due date, Run the Draft Transfer function from the AP/AR Accounting Menu for Bank Posting.


5.1. At the time of Sales Invoice

Particulars Debit Credit
Customer A/c 2500
Sales A/c 2500

5.2 At the Time of Receipt

Particulars Debit Credit
Bills Receivable A/c 2500
Customer A/c 2500
Particulars Debit Credit
Bank A/c Dr. 2500
Bills Receivable A/c 2500

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