Manage Banks and Accounts

Use the Manage Banks task to define and keep track of all bank accounts in one place. You can also grant access to multiple business units, functions, and users to your bank account.

Because of this, you don't have to set up duplicate bank accounts in different business units when these units share the same bank account.

Creating a bank is the first step in setting up a bank account. Once you create a bank, you must create a branch (or branches) that you associate with the bank. After creating a bank and branch, you can create an account, then select the branch to associate your account with.

You can create additional banks, branches, and accounts at any time. If you add banks and branches, you must update the associated values. And if there are existing transactions associated with a bank or account, you can't delete either one.

Note: The Oracle Fusion Payables or Receivables accounts are identified by business unit.

Create a Bank

To process electronic payments, you must configure your bank details.

1. Sign in as FINUser.

2. In the Setup and Maintenance work area, go to the Manage Banks task:

   • Offering: Financials

   • Functional Area: Cash Management and Banking

3. Click Create.

4. Fill out these fields with these values:

   Field	Value
   Country	Enter the country where your bank is located. Once assigned, you can't update this field.
   Name	Enter the bank name.
   Bank Code	Enter the bank's code.

5. Click Save and Close.

6. Click Done.

Create a Branch and Bank Account

Once you create an account, it isn't recommended to change it.

1. While still logged in as FINUSer, from the list of tasks click Manage Bank Branches.

2. Click Create.

3. Fill out these fields:

   • Bank

   • Branch Name

   • Routing Number

   • Branch Number Type

   • Bank Branch Type

   • EDI ID Number

   • EFT Number

   • RFC Identifier

4. Click Save and Close.

5. Set up your bank account.

   1. Select the row of the branch you just created.

   2. Click Create Account.

   3. Fill out these fields:

      • Account Name

      • Account Number

      • Currency

      • Legal Entity

      • Account Use: Select Payables and Receivables.

      Bank and Bank Branch are automatically populated with values when you selected the bank account you created.

   4. In the General tab, GL Accounts section, fill out:

      • Accounts

      • Cash Clearing

      • Reconciliation Differences

   5. In Additional Information, fill out or select values for:

      • EFT Number

      • Multicurrency account

   6. In the Business Unit Access tab, click Create.

   7. In Business Unit, select your business unit.

   8. Click OK.

   9. Click Save and Close.

   10. Click Done.