Defining Bank Accounts
Defining Internal Bank Accounts
Defining Customer Bank Accounts
Defining Multiple Currency Bank Accounts
Defining Internal Bank Accounts
Define internal bank accounts to define bank accounts for which you are the account holder. Receivables uses internal bank accounts to receive payments from customers.
To define a basic bank account for receipts:
1. In the Banks window query an existing Bank.
2. Choose the Bank Accounts button. Enter the Bank Account Name and Bank Account Number. Bank account numbers must be unique within a bank branch. Optionally enter an Account Type and Description.
3. If you want to use Bank Account validation, enter Check Digits.
4. Select Internal Account Use.
5. In the GL Accounts region, enter a Cash Account.
6. In the Receivables Options region, enter GL Account information for Remitted Receipts, Factored Receipts, and Short Term Debt.
8. Optionally enter contact information in the Contact region.
Defining Customer Bank Accounts
Enter bank account information for your customers. Receivables uses this information when you receive electronic payments from your customers.
To define a customer bank account:
1. In the Banks window query an existing Bank.
2. Choose the Bank Accounts button. Enter the Bank Account Name and Bank Account Number. Bank account numbers must be unique within a bank branch. Optionally enter an Account Type and Description.
If you want to use Bank Account validation, enter Check Digits.
3. Select Customer Account Use.
4. Optionally enter contact information in the Contact region.
See Also
Bank Accounts Window Reference
Automatic Receipts
Defining Multiple Currency Bank Accounts
A multiple currency bank account is one that accepts payments in more than one currency. If you define a multiple currency bank account, you should use manual payment reconciliation with it. Oracle Receivables stores the payment currency you enter when you initiate a Payment Batch, enter a manual payment, or create a Quick payment. The bank file details you receive from a bank will contain the bank account currency. Since the payment and bank account currencies could differ when you use a multiple currency bank account, automatic reconciliation could result in numerous exceptions.
Prerequisites
Enable the currencies you need in the Currencies window. See: Currencies.
To define a multiple currency bank account:
- If you are defining a bank account for receipts, enable the Multiple Currency Receipts option in the Receivables Options region.
See Also
Bank Accounts Window Reference
Banks Window Reference
Foreign Currency Transactions
Entering Flexible Addresses
Bank Branch Validation by Country
Bank Account Validation by Country
