Define Bank, Branches and Accounts

You need to define the payment source prior to creating the organization payment methods for payroll processing.

You can define the bank, branch and account details before setting up the organization payment method. Banks, branches, and account info to use as the payment sources are set up in Oracle Cloud Cash Management.

Create Bank Details

Use the Manage Bank task to add the details of the different banks.

Here's how you can setup the bank details:

1. From the homepage, navigate to Setup and Maintenance > Financials.

2. In the Show dropdown, select All Tasks.

3. In the Search Tasks, enter Bank.

   From the list of tasks displayed select Manage Banks.

4. Click Create.

   Enter the required bank information, such as the Country, Name, Bank Code, Taxpayer ID and Tax Registration Number.

5. Click Save.

6. In the Addresses section, click Create.

   Enter the bank address details such as Country, Address, City or Town, Pin Code and State.

7. Click OK.

8. In the Contacts section, click Create.

   In the Create Bank Contact screen, you can add the name, phone number, and address details of the contact persons in the bank.

9. Click OK and click Save.

Create Bank Branch

Use the Manage Bank Branch task to add the details of the different bank branches. You can add the required bank branches for the banks associated in each TRU.

Here's how you can setup the bank branch details:

1. From the homepage, navigate to Setup and Maintenance > Financials.

2. In the Show dropdown, select All Tasks.

3. In the Search Tasks, enter Bank.

   From the list of tasks displayed select Manage Bank Branch.

4. Click Create.

   Enter the bank branch details for the bank information added earlier such as the Branch Name, IFSC Code, BIC Code, Branch Number Type, Bank Branch Type, and other details.

   Note: The IFSC Code and BIC Code are specific for India Payroll.
5. Click Save.

6. Add the branch address and contact details for the bank branch record.

7. Save the data.

Create Bank Account

Use the Manage Bank Account task in Cash Management to add the details of the different bank accounts for the LTRU/LE.

Here's how you can setup the bank account details:

1. From the homepage, navigate to Setup and Maintenance > Financials.

2. In the Show dropdown, select All Tasks.

3. In the Search Tasks, enter Bank.

   From the list of tasks displayed select Manage Bank Account in Cash Management.

4. Click Create.

   Enter the bank account details such as the Account Name, Account Number, Bank, Bank Branch, Currency, and Country.

5. Enter the Legal Entity Name to associate the bank account with a legal entity.
6. Specify the Account Type as Savings.
7. Select the required Account Use, which can be Payables, Payroll or Receivables.
8. In the Controls tab, under Cash Management Controls > Reconcilation, specify the Accounting Conversion Rate Type as Corporate.
9. Click Save.