Bank Account Validation
To process bank transactions for Belgium, the account information that you enter must be accurate to avoid service charges from the bank and possible rejection of electronic funds transfers. Electronic funds transfers can be rejected for payments and receipts because of incomplete or incorrect account information.
The JD Edwards EnterpriseOne system automatically validates the bank account information for Belgian suppliers and customers, including the bank account numbers, according to the standards set by the Belgian banking authority. The Modulus 97 algorithm validates the bank account number when you add or change a bank account number. If you enter an invalid bank account number, you receive an error message stating that the bank account is invalid.