Set Up a Supplier's Bank Account

To pay suppliers electronically, a bank account is required in the supplier profile.

If a request to promote a supplier to spend authorized is submitted without a bank account, it slows the approval process and requires manual intervention by approvers.

With the ability to require that a supplier profile has a valid bank account before a spend authorization request can be submitted, approval processing will be smoother and you can transact with the supplier sooner.

When you promote a prospective supplier who doesn't have any active bank account or bank account assignment, an error will be displayed to prevent you from proceeding with the promotion.

You can set up a supplier bank account at these levels:

• Supplier level

• Supplier address level

• Supplier site level

Each bank account assignment is comprised of the following entities:

• Supplier

• Bank account

• Bank account assignment

You can set up a bank account by doing the following:

• Find your existing supplier.

• Set up a bank account at the supplier, supplier address, or supplier site level.

• Upload supporting documents as proof for the bank account.

• Provide additional information that's relevant to the bank account.

• Optionally, add joint bank account owners.

• Optionally, specify intermediary accounts.

• Optionally, assign a joint bank account to a supplier.

Find Your Existing Supplier

On the Manage Suppliers page, you can search for an existing supplier.

1. On the Manage Suppliers page, in the Search region, enter your supplier name or supplier number in the Supplier or Supplier Number field and click the Search button. Supplier details appear in the Search Results region.

2. In the Search Results region, select the supplier name and click the Edit icon. The Edit Supplier: <Supplier Name> page appears.

Set Up a Bank Account at the Supplier, Supplier Address, or Supplier Site Level

You can set up a supplier's bank account at the supplier, supplier address, or supplier site level.

1. To set up a bank account at the supplier level, on the Edit Supplier: <Supplier Name> page, select the Profile tab. Select the Payments tab. Select the Bank Accounts subtab. Go to step 8 and continue.

2. To set up a bank account at the supplier address level, on the Edit Supplier: <Supplier Name> page, select the Addresses tab. Click a specific address name link. On the Edit Address: <Location> page, select the Payments tab. Select the Bank Accounts subtab. Go to step 8 and continue.

3. To set up a bank account at the supplier site level, on the Edit Supplier: <Supplier Name> page, go to step 4 and continue.

4. Select the Sites tab. The supplier's various sites display.

5. Click a specific site link. The Edit Site: <Supplier Site Name> page appears.

6. Select the Payments tab.

7. Select the Bank Accounts subtab.

8. On the Bank Accounts subtab, click the Create icon. The Create Bank Account page appears. On the Create Bank Account page in the Bank Account region, you set up basic information about the bank account.

   Quickly search for bank and branch when adding bank accounts. You can also search and select the branch first which will automatically populate the bank information.

9. In the Account Number field, enter the bank account number.

10. From the bank account, search and select a bank.

    Note: If the country of the supplier's bank account and the country of the bank account's branch through which the payment is made is the same, then the payment is considered a domestic payment.

11. From the Branch lookup, select the branch where the bank account will reside. You can also search and select the branch before selecting the bank.

    The bank to which the selected branch belongs is automatically populated.

    Note: You can set up a supplier's bank account for making domestic payments by check without specifying a bank or branch. To make electronic international payments, however, you must specify both a bank and a branch.
    Note: If the country of the supplier's bank account and the country of the bank account's branch through which the payment is made isn't the same, then the payment is considered an international payment.

12. To make international payments to a supplier's bank account, select the Allow international payments check box.

    Note: The Allow international payments check box can be selected only when you provide bank and branch details. If you don't select the Allow international payments check box, international payments aren't created.

13. If you're setting up a supplier's bank account in a European country, enter the International Bank Account Number (IBAN) in the IBAN field.

    Note: Validation of the IBAN is based on the country for which the bank account is set up.

14. From the Currency choice list, select the currency in which payments are made.

    Note: If you select a currency, then the supplier's bank account is used to pay invoices in that currency only. If you don't select a currency, then the supplier's bank account is considered multicurrency and can be used to pay invoices in any currency.

15. Upload the documents to support the bank account being created.

Provide Additional Information That's Relevant to the Bank Account

On the Create Bank Account page, in the Additional Information region, you can enter additional information that's relevant to the bank account you're setting up.

1. In the Account Suffix field, enter the value that appears at the end of the bank account number, if applicable.

   Note: An account suffix is required in some countries.

2. From the Conversion Rate Agreement Type choice list, select the type of conversion rate agreement you have with the supplier.

3. In the Conversion Rate field, enter the conversion rate for which one currency can be exchanged for another at a specific point in time.

4. In the Conversion Rate Agreement Number field, enter the number of the conversion rate agreement with the supplier that specifies the currency in which payments are made.

5. In the Check Digits field, enter one or multiple digits used to validate a bank account number.

6. In the Secondary Account Reference field, you can optionally enter additional account information.

7. In the Agency Location Code field, enter the eight-digit value that identifies a Federal agency as the supplier.

8. Select the Factor account check box if the purpose of the bank account is to receive funds that are owed to the supplier, but are being collected on behalf of the supplier by the bank or a third party. The supplier receives payments from the funds collected, minus a commission.

   Note: If you select the Factor account check box, then you must select the account owner that provides the factoring services. A factor bank account can be assigned to any supplier without first adding that supplier as a joint owner.

Optionally, Add Joint Bank Account Owners

On the Create Bank Account page, in the Account Owners region, you can optionally add other suppliers to the supplier's bank account as joint bank account owners.

1. In the Account Owner field, select a joint bank account owner from the list.

2. In the From Date field, select a starting date for the joint bank account owner.

   Note: Every supplier's bank account has one or more owners. If the supplier wants to share the bank account with another supplier, then there will be multiple owners of the bank account. For multiple bank account ownership, you must specify one owner as the primary owner. The primary owner is the supplier for whom you set up the bank account.

3. To specify the primary bank account owner among multiple owners, click the check mark icon and then click the Primary field in the applicable bank account row. The check mark icon appears in the row you selected.

4. To add a row from which to select another joint bank account owner, click the Create icon.

Optionally, Specify Intermediary Accounts

On the Create Bank Account page in the Intermediary Accounts region, you specify intermediary bank accounts for this supplier. If there are restrictions on the transfer of funds between two countries, you can specify an intermediary bank account. An intermediary account is used to transfer funds between the originator's bank and the beneficiary's bank.

Optionally, Assign a Joint Bank Account to a Supplier

From the Bank Accounts subtab at the supplier, supplier address, or supplier site level, you can optionally assign a joint bank account to a supplier.

1. On the Bank Accounts subtab, select the Create icon. The Search and Select: Bank Account dialog box appears.

2. In the Search and Select: Bank Account dialog box, select the applicable joint bank account you want to assign to your supplier and click the OK button. The bank account you selected now appears in the Bank Accounts subtab.