Defining a bank

You must define a banking institution before you can set up bank accounts.

  1. Access Bank (CB00.1).
  2. Define the address and contact information for the bank. Use these guidelines to specify the field values:
    Bank Identification

    Select the routing number of the bank in this field. If you will make BACS (Banker Automated Clearing System) payments, then this value must be numeric. ACH and EDI files require a routing number.

    Bank Name

    Specify the name of the bank.

    Branch Name

    Specify the name of the bank location.

    Address 1-4

    Specify the address in the first address line. You can assign miscellaneous address information.

    City or Address 5

    You can specify the city where the bank is located or you can specify additional address information.

    Contact

    Contact information, Contact Name, Telephone, and Fax is optional.

    SWIFT Charge Account

    If the bank transmits payments electronically using the SWIFT system, then indicate which one of these accounts should be charged:

    • (1) Principals base account

    • (2) Principals foreign account

    • (3) Beneficiary

  3. If you use the Accounts Receivable application and perform bank risk processing, then select Credit to open Credit Risk (CB01.1). Use this subform to define credit lines used for remitting bills of exchange at a discount. See Defining a credit line.