Bank Information
When reporting your accounting information in detail to the fiscal authorities, the regulations require that you follow specific instructions for the journal entries that involve bank operations.
The information that you provide about the banks involved in your transactions must be complete according to the standards set by the regulation.
To set up your system to report the required bank and bank account information, complete these tasks:
The Mexican fiscal authorities publish the official list of legal bank codes that all companies must use when reporting detailed accounting information for transactions that involve banks. This referential bank code list assigns a three-digits code to each bank.
You must set up the codes included in the official list provided by the government in a user-defined code table. Use Address Book Category Codes to enter the referential bank codes list.
After you load the code list, associate each of your address book entries for banks to the appropriate code.
See Associating Legal Bank Codes to Address Book Records for Banks.
Create associations for the bank account records that your company uses and the address book records linked to the legal bank codes with the G/L Bank Accounts program (P0030G).
Create associations for the third-party bank account records and the address book records linked to the legal bank codes using the Bank Accounts by Address program (P0030A).