Understanding the Process for Setting Up Multiple Bank Accounts for Suppliers

If your business uses bank tape processing to transmit payments electronically, you can assign multiple bank accounts to your suppliers. After multiple bank accounts are set up, you can direct payment to any one of your suppliers' accounts. One advantage of assigning multiple bank accounts is that bank fees are often reduced if the payor and the payee use the same bank.

When you set up multiple bank accounts for a supplier, you can either assign the same user-defined record type to all bank accounts, or assign a unique user-defined record type to each bank account. To assign the same user-defined record type to all bank accounts, assign the same value from the Bank Type Code (00/BT) UDC table. Your choice of setup methods depends on how you intend to select a bank account for payment.

Note: You can assign a record type of V (vendor) to only one bank account for a supplier.

If you want to manually activate a bank account for payment, you can assign the same user-defined record type to all bank accounts. To select a specific bank account for payment, activate the record as the vendor (V) record type account.

Or, if you want the system to select a bank account based on a relationship set up between the user-defined record type, the payment instrument, and your GL account, assign each bank account its own user-defined record type. If your system will select the bank account for payment, review the prenote status of user-defined record types to ensure proper payment.

If you assign the same user-defined record type to all bank accounts, you must activate a bank account as a vendor record type, but you will not need to assign a relationship between the GL account or payment instrument and the record type, or review the prenote status of a user-defined record type. To activate a bank account as a vendor record types, assign the value V from the 00/BT UDC table to the account.

If you assign each bank account its own user-defined record type, you need to assign a relationship between a payment instrument or GL account and a user-defined record type and review the prenote status of the record type. You do not need to activate a bank account as a vendor record type.

Information about multiple bank accounts for suppliers is stored in these tables:

Table	Stored Information
Bank Transit Number Master (F0030)	Supplier bank-account information.
Multiple Vendor Bank Account Types (F0417M)	Bank-account type information that specifies the relationship linking user-defined record types to a payment instrument and, optionally, to a GL bank account.
Multiple Vendor Bank Account Status (F0401M)	Status information of supplier bank accounts for user-defined bank types.

See also:

• "Entering Address Book Records" in the JD Edwards EnterpriseOne Applications Address Book Implementation Guide.

• Understanding the Pre-Note Code Check Box on the Supplier Master Revision Form.

• "Additional Supplier Information for Belgium" in the JD Edwards EnterpriseOne Applications Localizations for Belgium Implementation Guide.

• "Setting Up Additional Bank Information for Foreign Suppliers" in the JD Edwards EnterpriseOne Applications Localizations for Denmark Implementation Guide.

• "Setting Up Additional Bank Information for Foreign Suppliers" in the JD Edwards EnterpriseOne Applications Localizations for Finland Implementation Guide.

• "Setting Up Additional Bank Information for Foreign Suppliers" in the JD Edwards EnterpriseOne Applications Localizations for Norway Implementation Guide.

• "Setting Up Additional Bank Information for Foreign Suppliers" in the JD Edwards EnterpriseOne Applications Localizations for Sweden Implementation Guide.