Defining Banks
You can define a bank or a clearing house. Define Banks to record internal banks, where you are the account holder of a receipt and/or disbursement account. If you use Payables, you can define external banks where your suppliers are the account holders. Also, if you use Oracle Receivables, define banks to record external banks where your customers are the account holders of disbursement accounts. Define Clearing Houses to record banks that process a magnetic tape of your receipt information which you send to them. These clearing institutions then create tapes of your customer receipt information which they forward to each of your remittance banks.
To enter a basic bank:
1. In the Banks window, enter all basic bank information: bank name, branch name, bank number, branch number, and address. Use a bank account name that indicates its usage, for example, "Main Disbursement - USD."
2. Select Bank as the Institution.
3. Optionally enter the EFT (electronic funds transfer) Number.
4. Optionally enter names and information for your bank contacts in the Contact region.
To enter a clearing house:
1. In the Banks window, enter all basic bank information: bank name, branch name, bank number, branch number, and address. Use a bank account name that indicates its usage, for example, "Main Clearing - USD."
2. Select Clearing House as the Institution.
3. Optionally enter the EFT (electronic funds transfer) Number.
4. Optionally enter names and information for your bank contacts in the Contact region.
See Also
Flexible Addresses
Bank Branch Validation by Country
Defining Bank Accounts
