Defining cash codes (bank accounts)

A cash code represents a bank account at a bank. You might have more than one account at a bank; for example, a savings account and a checking account. Cash Management, Accounts Receivable, and Accounts Payable applications can use the accounts that you define. This procedure describes the process for defining a cash code.

  1. Access Cash Codes (CB00.2).
  2. Define bank account information. Use these guidelines to specify the field values:
    Cash Code

    Define a cash code that represents a bank account at a financial institution.

    Bank Identification

    Select the bank associated with the cash code.

    Note: You must define on Bank (CB00.1) for the bank account that you specified.
    Bank Account Number

    Specify the bank account number associated with the cash code.

    Note: Each cash code must have a unique bank and bank account number combination.
    Account Validation Type

    Select a validation type. Some account types require validation.

    Currency

    Select a valid currency code that represents the currency of the bank account.

    Electronic Transfer Bank

    If you will issue electronic payments from this account and must send the payment to another bank, then specify the routing number of the receiving bank.

    ROI Rate

    If you want to determine whether it is more advantageous to leave funds in this account or to make an early payment and take a vendor's discount, then specify a return on investment (interest) rate for the account. If it is more advantageous to leave funds in the account, then the application applies a temporary ROI system hold code to the invoice. If you use Best Terms for matched invoices, then a value should exist in this field.

    Summarize Ledger Balances

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

    Status

    Select the bank account status:

    If inactive, then you cannot enter bank transactions for the account, but can process and reconcile transactions already entered in the system.

    Required

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

    Note: If you select Yes, then you must add a bank statement on Bank Statement (CB06.1) and close the statement on Bank Statement Closing (CB191).
    Single User Flag

    If you selected the reconciliation option in the Statement Required field, then select Yes or No to indicate whether you want to automatically update the statement number and beginning balance for each new statement.

    If you select Yes, then you can open only one statement at a time. With each new statement, the statement number and beginning balance are updated automatically, using the numbers you define in the Last Number Used and Last Ending Balance fields.

    If you select No, then you can open several statements at one time, but you must specify a statement number and beginning balance on Bank Statement (CB06.1) for each new statement.

    Last Number Used

    If you select the single statement option, then specify the last bank-assigned bank statement number. Cash Management will use the next sequential number when automatically assigning a number to the next statement opened. You need to specify this number only once. If you leave this field blank, then the system starts numbering from 1.

    Last Ending Balance

    Specify the ending balance for the last statement. If you selected the single statement option, then this balance will be used by Cash Management as the starting balance for the next statement opened. When defining the cash code, you need to do this only once. If you leave this field blank, then Cash Management assumes a zero starting balance.

    Note: You must define a user class on Cash Ledger Security (CB04.1) before you can assign users to a cash code.

    See Defining Cash Ledger security.

  3. To assign security to a cash code, click the Security link. Use Cash Code Security (CB01.3) to assign a user class.