Prerequisites for Performing In-House Banking Activities
Before you can perform in-house banking (IHB) activities, you must first:
Set up internal banks for each business unit you intend to use to internally exchange funds.
Define internal account information. On the Internal Account Information page you must:
Generate the schedule defined on Internal Account Information page (required to run interest accrual calculation process).
Specify both debit and credit rate index information (required to run interest accrual calculation and interest schedule generation processes).
Adjust the opening balances for both Service and Owner of an internal account, as needed. (The opening balances default to zero on setup.)
Check that an accounting template that is setup for internal account interest accruals is installed.