Defining a Bank Account

Prerequisites

To define a bank account, you should have:

  • Currencies and distribution codes defined in the application

Procedure

To define a bank account:

  1. Search for the bank, in which you want to add a bank account, in the Bank screen.
  2. In the Search Results section, click the link in the Description column corresponding to the bank whose details you want to edit.
    The Bank screen appears.
  3. Click theAdd link in the upper right corner of the Bank Accounts zone.

    The Bank Account screen appears. It contains the following sections:

    • Main - Used to specify the basic details about the bank account.

    • Characteristics - Used to define the characteristics for the bank account.

    The Main section contains the following fields:

    Field Name Field Description Mandatory (Yes or No)
    Bank Code Indicates the bank for which you want to define the bank account. Not applicable
    Bank Account Used to specify the type of the bank account. Yes
    Description Used to specify the description for the bank account. Yes
    Account Number Used to specify the number that identifies the bank account. No
    Check Digit Used to specify the number that is located on the far right side of a bar code. No
    Branch ID Used to indicate the branch in which the bank account is held. No
    Currency Used to indicate the currency in which the bank account is denominated.
    Note: By default, the currency specified in the Main tab of the Installation Options - Framework screen appears in this field.
    		 Yes
    DFI ID Used to indicate the depository financial institution for the bank account. No
    Distribution Code Used to indicate the distribution code, which in turn indicates the GL account associated with the bank account.
    Note: The Search (The Search Icon) icon appears corresponding to this field. On clicking the Search icon, the Distribution Code Search window appears.
    		 Yes
  4. Enter the required details in the Main section.
  5. Define characteristics for the bank account, if required.
  6. Do either of the following:
    If you want to...Then
    Save the bank account and exit from the screen Click Save. The bank account is defined and listed in the Bank Accounts zone.
    Save the bank account and then add another bank account Click Save and Add New. The bank account is defined. All fields in the Bank Account screen are cleared, thereby allowing you to add another bank account.

Related Topics

For more information on... See...
How to search for a bank Searching for a Bank
Bank screen Bank (Used for Viewing)
Bank Accounts zone Bank Accounts