Now i’m going to write about draft. In generally, almost everyone don’t understand what is draft. So That, I’m going to talk more and more about draft.
Well.. when you hear “draft”. What would you think about?. Almost people outside accountant and it’s own. Don’t understand what does draft mean.
In my case draft is a letter consist of contract of receiveable and payable. This is only about payable and receiveable, but this payable nor this receiveable are specials because they have a promise letter of it’s payment. And once more you can use thrid person to take your receiveable. So that you cab take your receiveable befeore it’s due. Who is the thrid here? It’s Bank. I mean you are able to discounto your letter.
Both receiveable and payable letter have two type. First is The one who have interests. On the other hand don’t have it. And when you find this case it also will be different to resolve calculate it nominal.
I mean every draft have it nominal and you should count it. Like to find the nominal value, its due value, and we count this to know how much money you will get when you resell it to the bank.
To understand more how to calculate it. You may click this link Calculating Draft. You will be redirected to other page in my blog.