Bank code
A bank code is a combination of the bank account number and general ledger cash account. You can create one bank code and tie it to two different bank accounts: one for system payments and one for direct deposits. If you do not assign a direct deposit account to the bank code, the bank account you assigned for system payments is used for direct deposits.
For each unique bank code your company requires, you need to define a separate process level in your HR company structure.
Example
Two Rivers draws their checks out of two bank accounts. All Minnesota locations draw their checks out of Twin Cities Bank (TCB). All New Jersey locations draw their checks out of Trenton Bank. All locations share the same general ledger cash account. Therefore, Two Rivers defines two bank codes one for each unique combination of a bank account number and cash account. Because each process level uses only one bank code, Two Rivers has no need to break down their process levels further.
