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Bank Accounts Window Reference

Name. The name you use to refer to the bank account. You may want to use a name that indicates the usage of the bank account.

Alternate Name. You can enter an alternate name for your bank account if you enable the AP: Enter Alternate Fields profile option. If you do not enable this option, the Alternate Name field will not appear.

Number. The bank account identification number. The combination of Bank Account Number and Bank Branch Number must be unique within each bank.

Account Type. Type of your bank account. For example, Electronic.

Account Use. Indicate the account holder of this account.

Check Digits. The value used to validate the authenticity of your bank account number according to country specific bank account validation requirements. This value is provided by your financial institution.

Currency. Currency for a bank account. The default value is your functional currency. If you do not enable the Use Multiple Currencies Payables option, Payables does not allow you to change this value.

If you select your functional currency as your bank currency, you can enable the Use Multiple Currencies Payables option and use this bank account to pay foreign currency invoices.

If you select a different currency than your functional currency in this field, when you define Payables Payment Documents, you will only be able to select payment formats that you define in that currency. Also, you will only be able to pay invoices that you enter in this foreign currency.

Inactive Date. If you enter an Inactive date, during transaction entry, the bank's account will no longer appear on any lists of values in Payables, and you will not be able to enter the bank account when you enter transactions.

Description. Description of the Bank Account. For your reference only.

Account Holder Region of the Bank Accounts Window

Account Holder. Name of the person or organization within your organization who is responsible for this account. (Optional)

Alternative Account Holder. You can enter an alternate name for your bank account holder if you enable the AP: Enter Alternate Fields profile option. If you do not enable this option, this field will not appear.

EFT Requester ID. Numeric designation organization or person that is responsible for generating this account's electronic payments. This number is assigned by the bank. (Optional)

Supplier Assignments Region of the Bank Accounts Window

If you choose Supplier as the Bank Account type, you can use this region to assign supplier bank accounts to a supplier and the supplier's sites. Entering information in this region will update the Bank Accounts region of the Supplier and Supplier Sites windows. See: Bank Accounts Region of the Supplier and Supplier Sites windows

Name. Name of supplier that uses this bank branch to receive electronic payments. If you enter a supplier without specifying a site, Payables defaults the bank account to any new sites you enter for the supplier, but not to existing sites.

Number. Supplier number of the supplier that uses this bank branch to receive electronic payments.

Site. Supplier site of a supplier that uses this bank branch.

Effective Dates From/To. Enter dates if you want to limit the time during which this supplier site uses this bank account as the primary bank account for receiving electronic payments in the bank account currency.

Primary. Enable this check box to make this the default bank account for a supplier or site for receiving electronic payments in the bank account currency. For each supplier and supplier site that has bank account assignments, you must designate exactly one bank account per currency as the primary bank account.

GL Accounts Region of the Bank Accounts Window

You cannot enter GL Account information for Supplier bank accounts.

Cash. Enter the cash account you are associating with a bank account. This account must be an asset account. When you create a payment, Payables creates accounting entries to credit this cash account.

If you have enabled the Allow Reconciliation Accounting Payables option, Payables creates accounting entries for your unreconciled invoice payments to credit your cash clearing account, instead of your cash account, using the Cash Clearing account define in the next field. After you reconcile your payments using Oracle Cash Management and post your payments within Payables, Payables creates accounting entries for your reconciled invoice payments to debit your cash clearing account and credit the cash account you enter here.

If you enable the Automatic Offsets Payables option and enable the Pooled Account option in the Payables Options region of the Bank Accounts window, when you create a payment, Payables creates a corresponding cash payment distribution for each liability distribution that you pay using this bank account. Payables uses the cash account you define here together with the Automatic Offset Method you choose in the Payables Options window to create the cash payment distributions.

Cash Clearing. You use a cash clearing account differently, depending on what you choose for your Cash Clearing option in the Payables Options window: Allow Reconciliation Accounting, or Allow Future Payment Method.

If you have selected Allow Reconciliation Accounting, enter the cash clearing account you are associating with a bank account. When you create a payment, Payables creates accounting entries for your unreconciled invoice payments to credit your cash clearing account using this account. When you reconcile your invoice payments using Oracle Cash Management, Payables creates accounting entries to debit this cash clearing account and credit this bank account's cash account. The account you enter here defaults to the Cash Clearing Account field in the GL Accounts region of the Payment Documents window.

If you are using future dated payment methods, enter the clearing account you are associating with a payment document. When you pay an invoice with a payment document that uses a Manual Future Dated or Future Dated payment method and post payments within Payables, Payables automatically debits your liability account and credits this account. When you clear this payment using automatic or manual reconciliation within Payables or Oracle Cash Management then post payments within Payables, Payables debits this cash clearing account and credits this bank account's cash account.

Bank Charges. If you have enabled the Allow Reconciliation Accounting Payables option and you are using Oracle Cash Management to reconcile your payments, enter the bank charges account you are associating with a bank account. When you reconcile your invoice payments using Oracle Cash Management, Payables creates accounting entries to record your bank charges using this account. The account you enter here defaults to the Bank Charges account field in the GL Accounts region of the Payment Documents window.

Bank Errors. If you have enabled the Allow Reconciliation Accounting Payables option and you are using Oracle Cash Management to reconcile your payments, enter the bank errors account you are associating with a bank account. When you reconcile your invoice payment using Oracle Cash Management, Payables creates accounting entries to record any bank errors using this account. The account you enter here defaults to the Bank Errors account field in the GL Accounts region of the Payment Documents window.

Confirmed Receipts. If you use Automatic Receipts in Receivables and are required to send receipt information to your customer prior to applying the receipt, the receivable is maintained in the Accounts Receivable account until it is confirmed by the customer. Upon confirmation, it is reversed from the Accounts Receivable account and placed into the Confirmed Receipts account. If you are not required to send receipt information to your customer, the receivable is automatically reversed from Accounts Receivable and placed into Confirmed Receipts.

Payables Options Region of the Bank Accounts Window

You cannot enter Payables Options information for Supplier bank accounts.

Maximum Outlay. The largest currency outlay that you allow for a bank account. If the total outlay of a payment batch exceeds the maximum outlay for the payment batch, Payables displays a warning, but allows you to continue processing the payment batch. The Maximum Outlay for a bank account defaults from the Payables Options window. When you initiate a payment batch using the bank account, Payables uses the bank account's Maximum Outlay as a default. You can override this default.

Maximum Payment. The largest payment amount that you allow in a payment batch. When you initiate a payment batch using the bank account, Payables uses the bank account's Maximum Payment as a default. You can override this default.

Minimum Payment. The lowest payment amount that you allow in a payment batch. When you initiate a payment batch using the bank account, Payables uses the bank account's Minimum Payment as a default. You can override this default.

Realized Gain. If the bank account is a foreign currency or multiple currency account, enter the account you want Payables to use when creating accounting entries for realized exchange rate gains on foreign currency payments. If you use Payables, the default for this field is the Realized Gain Account you define in the Payables Options window. If you are not using multiple currencies, you can leave this field blank.

Realized Loss. If the bank account is a foreign currency or multiple currency account, enter the account to which you want Payables use when creating accounting entries for realized exchange rate losses on foreign currency payments. If you use Payables, the default for this field is the Rate Variance Loss Account you define in the Payables Options window. If you are not using multiple currencies, you can leave this field blank.

Multiple Currency Payments. If you have enabled the Use Multiple Currencies Payables option and you want to use this bank account to pay invoices entered in multiple currencies, enable this option.

Allow Zero Payments. If you will allow zero-amount payments from this bank account, enable this option.

Pooled Account. If you use Automatic Offsets and you want to associate multiple companies with this bank account, enable this option. When you enable the Automatic Offsets Payables option, Payables creates one offsetting liability distribution for each invoice distribution. When you pay an invoice from a pooled bank account, Payables creates a corresponding payment distribution for each liability distribution.

Account Contacts Region of the Bank Accounts Window

Prefix. The prefix (Mr., Ms., etc.) of the contact.

Buttons

Payables Documents. Navigates to the Payment Documents window. This button is disabled if the bank account Use is Supplier.

Bank Codes. Navigates to the Bank Transaction Codes window. See: Bank Transaction Codes.

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