Creating Cash accounts

The electronic routing number and branch SWIFT number are displayed on this page if the information is available in the corresponding financial institution record.

Description

Specify a long description.

Company Location

Select the location of the bank account. This is used to group accounts for reporting purposes.

IBAN

Specify the IBAN number for the accounts that are used by international banks to identify this information:

• The country of the account
• The account holder's bank
• The account number

Account Type

Select an account type. This information is used to group accounts for reporting.

Validation Type

Select the validation type. Some account types require validation.

RIB Key

If your EFT involves a French bank, then specify a bank-provided RIB number. This number is used to validate a bank account number in electronic transfers. See the France Country Guide.

SEPA

Select this check box to generate Single Euro Payments Area (SEPA) payment files for the account. SEPA is a payment integration initiative that is used to simplify bank transfers.

BIC

Specify the BIC/SWIFT code that is linked to the financial institution.

Legal Entity

Specify a Global Ledger company to post transactions that are related to this account.

Cash Posting Account

Specify the cash Global Ledger accounting string or distribution for posting.

Reporting Basis

Specify the reporting basis to use to post transactions that are related to this account.

Default Journal Description

Specify the default description that is included in the bank statement line distributions. Bank statement line distributions are created when the category that is specified on the bank statement line is Post To Global Ledger.

To add text variables, select the More Actions menu for the field and specify the Text Variable Replacement. When the distributions are created, the text variable is replaced by the corresponding value. For example, if the option is Cash Account, then the cash account number is replaced as the variable.

Approval Code

Specify the approval code for bank statement distributions. This field is available and required if approvals are required for bank statement distributions in your Cash Management Group.

Statement Line Classification

These are user-defined rules that are used to assign a category to the bank statement line when the bank statement files are imported. Select the process to use to classify statement lines:

• Use Processing Rules

  Statement lines are classified based on user-defined rules. When this option is selected, the Processing Rule Group field is enabled. You can specify the processing rules to classify the Bank Statement lines.

• Default From Account

  Select this option when all of the lines on the bank statement are for the same transaction types. When this option is selected, the Default Category field is available. Select the category to assign to all bank statement lines for this cash account.

Beginning Account Balance

Specify the bank balance when the account record is created. This balance is used to establish a beginning balance when no prior bank statements have been imported into the system.

Cash Position Target

Specify the amount for the cash position target. This value is used for cash position reporting. The actual cash balances are compared with this value to help determine whether funds are moved to or from this account.

Funding Structure

Optionally, specify the funding structure. The funding structure is used to indicate whether the account is a subset of the Zero Balance Accounting (ZBA) structure. Its role in the structure is also defined.

Checks Issued

Select this check box if checks are issued from this account.

Electronic File Transmission

Select this check box if electronic bank statements are imported for this account.

Sending Financial Institution

Specify the bank from which electronic transfers are sent. The previously defined financial institution is the automated choice. You can override this option with another financial institution.

Sending Branch

Specify the branch of the financial institution. The previously defined branch is the automated choice. You can override this option with another branch of the sending financial institution.

Bank Client Identifier

Optionally, specify the bank client identifier.

Include CSV Header Row

Select this check box to include a header row with the field names in the CSV output file.

Consolidate CSV Detail And Remittance

Select this check box to combine the CSV payment for detail and remittance output into a single row.

FTP Configuration

Select the FTP system configuration for the institution to which the CSV output files are sent.

FTP Header File

Select this check box to send the CSV header file through the FTP process.

FTP Detail File

Select this check box to send the CSV detail file through the FTP process.

FTP Remittance File

Select this check box to send the CSV remittance file through the FTP process.

See Cash codes.

Reconcile to Cash Ledger

Select whether cash ledger transactions are reconciled with bank statements.

• Select Not Reconciled, to exclude cash ledger transactions.
• Select Primary, to include them.
• Select Secondary to use cash ledger transactions for secondary reconciliation.

Reconcile To Forecast

Select whether bank statements are reconciled with the cash forecast transactions:

• Select Not Reconciled to exclude cash forecast transactions.
• Select Primary, to include them.
• Select Secondary,to use them for a secondary reconciliation to the bank statement line.

Reconcile To Other System

Select whether the bank statements are reconciled with transactions from other systems.

• Select Not Reconciled to exclude other system transactions, such as non cash ledger transactions.
• Select Primary, to include them.
• Select Secondary to use non-cash ledger transactions for a secondary reconciliation to the bank statement line.

Reconciliation Method

Select a method to reconcile bank statements for this account.

• If Use Reconciliation Match Rules is selected, then specify the Reconciliation Match Rule Group. The rule group contain rules to determine how the bank statement lines are matched with transactions.
• If Use Reconciliation Template is selected, then the defined reconciliation templates are used to determine how the bank statement lines are matched with transactions.

Auto Reconcile Statement Lines

Select this check box to automatically reconcile statement lines. When bank statements are created during the bank statement import, matching transactions are identified in the system. When transactions match, the bank statement line is automatically reconciled.

Allow One Sided Reconciliations

Select this check box if one sided reconciliations can be used when bank statements are reconciled. When a bank statement line is reconciled, the Mark As Reconciled action is available. Use this action to change the status of the bank statement line to reconciled without a matching cash ledger or non-cash ledger transaction.

Allow Multiple Statements Per Day

Select this check box to import multiple statements with the same bank statement date for this account. A new bank statement is created with the additional transactions. The transactions included in the first statement are not included with the additional transactions.

Tolerance Percent or Tolerance Amount

Specify the tolerance that is required for the reconciled difference to change its records status to reconciled. For the difference, a variance adjustment is created for cash ledger transaction or non cash ledger transaction.

Note: Reconciliation tolerances for cash ledger transactions are defined on company cash code.

Posting Cash Code

Specify the cash code to use to create transactions from the bank statement line.

Auto Created Cash Ledger Transaction Numbering

Specify the starting number to use for transactions that are created automatically from the bank statement. This number is incremented when cash ledger transactions are created from the bank statement.

Debit Transaction Code

Specify the bank transaction code to use for debit transactions that are created automatically from the bank statement.

Credit Transaction Code

Specify the bank transaction code to use for credit transactions that are created automatically from the bank statement.

Auto Release Cash Ledger Transactions

Select this check box to enable the automatic release of the cash ledger transactions that were created from the bank statement. When cash ledger transactions are automatically released, the bank statement line cannot be released until the corresponding cash ledger transaction is voided.

Import Account

Specify the import account for this account. Use this field to define an account number to use in the bank statement import file. This account is different than the account number on the cash management account. For example, the import file may contain leading zeros, but the Cash Management account does not.

Does Not Receive Bank Statements

Select this check box if bank statements are not received for this account. This field used in the Incoming Bank Statements view.

Allow Line Creation On Imported Statements

Select this check box to manually add bank statement lines to an imported bank statement. This is used when the bank statement is incorrect. Lines can be manually added.

Create Receivable Payments From CAMT 053

Select this check box to generate Receivable Payment Import records. The records can be imported to create the records in Unreleased Receivable Payment Batch, Receivable Payment, and Receivable Payment Remittance.

Create Receivable Payment From Third Party Payment Processing

Default Transaction Date On Bank Statement Lines To

Select the default transaction date for the line to use as the value date or the statement date. This date is used when the transaction status is reconciled during bank statement reconciliation.

Import Notification

Select whether import notifications are sent to a Resource or to a member of a Team after a bank statement is imported.