Registering Bank Information

Outcome

All bank accounts for specific account holders with whom the company directly or indirectly works are registered. For the company's own bank accounts, each bank is also registered. (For other accounts, defining a bank is optional.) Bank branches can also be registered.

The registered banks and bank accounts are used in these modules:

• Accounts Payable (company bank accounts, supplier bank accounts)
• Accounts Receivable (company bank accounts, customer bank accounts)
• Automatic Bank Statements (company bank accounts, customer bank accounts, supplier bank accounts)
• General Ledger (company bank accounts, customer bank accounts)
• Cash Flow Management (company bank accounts)
• Payroll (company bank accounts, employee bank accounts, accounts of other account holders).

These tables are updated:

• Bank master table (CBANMA)
• Bank branch table (CBANBR)
• Bank account table (CBANAC)

Before you start

See the appropriate settings instruction in the See Also section.

Follow these Steps

Activity Description

1. Register Banks

   For your company's bank accounts, always register a bank in 'Bank. Open' (CRS690). You can also register a bank for any other type of account, although such a procedure is optional. The bank record contains general information as well as specific values that are proposed when registering a bank account. By registering all common information for a group of accounts on the bank level, you do not have to enter the same information several times.

2. Register Branch Offices

   When applicable, register a local bank branch in 'Bank Branch. Open' (CRS691). The branch record contains similar information as the bank record.

3. Register Bank Accounts

   Register the bank accounts in 'Bank Account. Open' (CRS692). The accounts can belong to different categories: The company bank accounts, supplier accounts, customer accounts, employee accounts, and other accounts. A bank account indicator must always be selected when a bank account is registered. The indicator defines up to five fields with company-defined contents, and, if applicable, a check digit method.

   The bank account is the basic bank component in M3, used in most programs where banks are involved. Only in a few programs is the bank name entered.

4. Register Division-Specific Bank Accounts

   The bank accounts registered in step 3 are available in the entire company, regardless of whether they were registered on the central level or division level. You can also define division-specific bank accounts that are only available in that division by selecting option 12 = 'Bank per division' for a bank account in (CRS692/B).

5. Use Additional Bank Fields

   In case the standard bank account fields in (CRS692) are not sufficient, for example, when you need to include extra information in an electronic bank file, you can create fields for storage of such additional information in 'Bank Account Field. Create Additional' (CRS083). For each field you define a name, the length of the field, and whether it is numeric or alphanumeric. You can then connect one or more of these additional fields to a bank account by selecting option 11 = 'Value/account' in (CRS692/B). This option displays 'Bank Account. Connect Additional Field' (CRS693), where you connect the relevant additional fields and enter a value for each one of them.