Creating and maintaining bank account numbers

Menu paths

• Finance > Accounts receivable > Maintain
• Finance > Accounts payable > Maintain

Introduction

This screen allows you to create, view, and edit bank account numbers for the debtors or creditors.

What version are you using?

The information in this document is based on product update 503 and higher. If you have versions lower than this, certain features explained here will not be applicable.

How do I create bank account numbers?

1. In the Maintain screen, define the search criteria.
2. ClickSearch.
3. Select the required debtor or creditor.
4. Click Open.
5. Click the Financial tab.
6. Click  at Bank account in the General section.
7. Click New.
8. Define the fields.
9. Click Save.

This screen is divided into the following sections:

Basics

Type

Enter or select the bank account type. For more information, see Creating and maintaining bank account types.

Number

Enter the bank account number. If the bank account type IBA or IBAN is selected at Check type in the Basics tab in the Bank account types screen, this field will be disabled. Once the value defined at IBAN is validated, the value will be available in this field. For more information, see Creating and maintaining bank account types.

Bank account type

Select Current account or Saving account for this bank account. This is to distinguish if the bank account is a current or savings account.

Blocked

Select this check box to block the selected bank account. If this check box is selected, you see the error message "Blocked Bank Account selected. Please re-select bank account." when you process payments using this bank account at Cash flow > Payments > Process.

General section

Currency

Enter or select the currency code for this bank account. For more information, see Selecting currency.

Bank name

Enter the bank name where this bank account is maintained.

IBAN

Enter a valid International Bank Account Number (IBAN). This is the international standard to identify bank accounts across countries and was developed to facilitate payments within the European Union. Because IBAN is not widely used outside Europe, it is necessary to use it together with the BIC and SWIFT codes. This field will be automatically defined if the Automatic: IBAN Calculation check box in the SEPA section in the Bank settings screen is selected. For more information, see Bank settings.

The value defined in this field is independent from the Type field. IBAN will be dependent on the value and country code defined in this field. If LU is selected at Type, the value defined at the Number field will be automatically copied to this field. The bank account number and IBAN must be the same. The error message IBAN must correspond with the bank account number will be displayed if the end value defined in this field is different from the value defined at the Number field.

BIC code

Enter the bank’s unique Bank Identifier Code (BIC). SWIFT developed the BIC to ensure the identification of parties in automated systems were free from errors. The BIC is a unique address that identifies the financial institutions involved in financial transactions. BICs have 8 or 11 characters and can be found in account statements. These codes are necessary when you transfer money between banks, especially international transfers.

SWIFT address

Enter the bank’s unique SWIFT code. The SWIFT code refers to the Society for Worldwide Interbank Financial Transaction code. SWIFT is the registration authority for the assignment of BICs and for the publication of BICs in the BIC Directory.

Bank code

Enter the bank code for this bank account.

Branch code

Enter the branch code for this bank account.

Account number bank

Enter the offset bank account number for this bank account.

Clearance identification

Enter the clearance identification information. This field is optional and supports up to 20 alphanumeric characters. When you define the field with the alphanumeric characters, the value must be defined with letters first, followed by numerals. If the numerals are defined first, you cannot define the letters.

Charges

Select who will bare the charges. You can select Creditor, Debtor, or Shared.

Payee name

Enter the payee name for the bank account. Once you have defined the payee name, this name will be used based on the priority below:

1. The entries application will take the Payee name you defined in the To Cash instrument field.
2. If you have not defined the Payee name in the To Cash instrument field, the Payee name will be taken from the account maintenance screen.
3. The Account name will be used.

Address

Address line 1

Enter the first line of address for this bank.

Address line 2

Enter the second line of address for this bank.

Address line 3

Enter the third line of address for this bank.

Postcode, City

Enter the postcode and city where this bank is located.

Country

Enter or select the country code where this bank is located. For more information, see Selecting country.

Telephone

Enter the telephone number of this bank.

Fax

Enter the fax number of this bank.

Contact person

Contact person

Enter the name of the contact person for this bank account.

Gender

Select the gender of the contact person. You can choose from Male, Female, or Unknown.

Title

Enter or select the title of the contact person. For example, Mr, Mrs, Madame, and others. For more information, see Selecting title.

Position

Enter the position of the contact person.

Telephone

Enter the telephone number of the contact person.

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