Defining Cash Codes (Bank Accounts)

A cash code represents a bank account at a bank. You can have more than one account at a bank, such as a savings account and a checking account. The accounts you define can also be used by Accounts Payable and Cash Management. The following procedure outlines the process for defining a cash code specifically for Accounts Receivable.

To define a cash code (bank account)

  1. Access Cash Code (CB00.2).
    1. Define bank account information. Use the following guidelines to enter field values:
      Bank Identification

      Type or select the bank associated with the cash code. Must be defined in CB00.1 (Bank).

      Bank Account Number

      Type the bank account number associated with the cash code. Each cash code must have a unique bank and bank account number combination.

      Account Validation Type

      Select whether the account number is an IBAN number that requires an account validation check.

      Currency

      Select a valid currency code. Represents the currency of the bank account.

      Electronic Transfer Bank

      If the bank for the cash code does not process electronic payments, type or select the bank that processes the electronic payment media, if applicable. Must be defined in CB00.1 (Bank). If left blank, the Bank Identification defaults.

      ROI Rate

      Type the return on investment rate granted by the bank. For example, the interest rate.

      Summarize Ledger Balances

      Select whether or not to allow up to the minute balance tracking.

      Status

      The bank account status. If the bank account is inactive, you cannot enter bank transactions for the account but can process and reconcile transaction already entered into the system.

  2. Define the reconciliation statement information. Use the following guidelines to enter field values:
    Required

    If you want to require bank statements for this account to be reconciled, select Yes.

    Note: If you select Yes, you will be required to initiate and enter all cash deposits in the CB06 screens. You will not be allowed to use a Cash Code with this flag set to Yes in the standard AR Cash Entry and Cash Application screens.
    Security link

    If you want to assign security to a cash code, select the Security link to access Cash Code Security (CB01.3)