Setting Up Bank Accounts Using Global Electronic Messages

Background

Bank accounts of different types are used for different purposes:

• Bank account type 1='Company bank accounts' refers to the company's different bank accounts used for incoming payments from customers, payments to suppliers, salaries, etc.
• Bank account type 2='Customer bank accounts' is linked to customers in 'Customer. Open' (CRS610).
• Bank account type 3='Supplier bank accounts' is linked to suppliers in 'Supplier. Open' (CRS620).

The setup of the bank accounts are dependent on the 'Bank Account Indicator. Open' (CRS072) where you define if and how the free bank accounts should be used, for what the country the indicator is used, and which check digit methods to use. The check digit methods are not used if 'Global electronic messages' is activated (see explanation below).

A parameter exists in panel K in 'Company. Connect Division (MNS100). The field indicates if the functionality with payments using 'Global electronic messages' is activated.

If alternative 0 is selected, only panels E and F are allowed in 'Bank Account. Open' (CRS692). If option 0 is selected, the payments are performed through Financial Business Messages (FBM).

For alternative 1, only panels K, L, and M are allowed in (CRS692).

If alternative 2 is used, the additional setting 'Global electronic messages' will be added to the settings of (CRS692). This setting enables the user to decide if the panels E/F (0='Not activated') will be used or the panels K/L/M (1='Activated') in (CRS692).

If the parameter 'Global electronic messages' is set to 2 in (MNS100), the parameter 'Global electronic messages' in the settings of (CRS692) must be set to 1 to activate this functionality. The panels K, L, and M will then be displayed for the bank accounts in (CRS692). If option 0 is selected, this functionality will not be used and the payments are performed through Financial Business Messages (FBM). In this case, panels E and F will be used.

Setting up bank account indicators in (CRS072)

Field selection is linked to 'Bank Account Indicator. Open' (CRS072), to indicate whether the field is mandatory, optional, or not displayed, and to set a default value at new entry. This functionality is only implemented for panels K, L, and M.

The check digit methods that can be set up in (CRS072) will not be used for any controls within (CRS692) if 'Global electronic messages' is activated. This means that the user must define which fields are required for the indicator and whether values will be mandatory or optional to use. To control this, default values can be set in (CRS072).

The field selection cannot be changed to 0='Not displayed/used' if the bank account indicator is connected to a bank account in (CRS692). Instead, the field selection must be set to 1='Displayed/optional' and the content of the field removed in (CRS692) if not needed.

Panels F, G, and H are added to (CRS072). Panel F controls panel K in (CRS692), panel G controls panel L in (CRS692), and panel H controls panel M in (CRS692).

If the functionality is not used, it is recommended to set the 'panel sequence' to only include panel E in the settings for (CRS072).

The free bank account fields on panel E are only used for country or message-specific information when 'Global electronic messages' is used. If the fields are defined with 'field name' and 'length', they will be displayed and mandatory in (CRS692).

Setting up company bank accounts in (CRS692)

A new bank account can be set up in (CRS692) with bank account type 1='Company bank account', using a bank indicator which is set up for this purpose in (CRS072). The company bank accounts are created per division.

'Bank priority', 'Status', 'Bank account name', 'Accounting dimension 1', 'Currency, 'Bank number', 'Number of document lines', and 'Language' are always mandatory, independently of the setting of the bank account indicator. However, default values can be set in (CRS072) and are then proposed when the new account is set up.

Bank account fields 1-5 are mandatory if they are set up with 'Field name' and 'Length' on panel E in (CRS072).

If the 'IBAN number' field is used, the length and the check digit used are controlled. This is true for panels K and M.

Panel M is used for 'Intermediary bank information'. Intermediary banks serve as third-party banks that coordinate with beneficiary banks to facilitate international fund transfers and transaction settlements.

Setting up customer bank accounts in (CRS692)

A new bank account can be set up in (CRS692) with bank account type 2='Customer bank account', using a bank indicator which is set up for this purpose in (CRS072).

The 'account holder' is customer defined in (CRS610). 'Bank priority', 'Status', and 'Bank account name' are always mandatory, independently of the setting of the bank account indicator. However, default values can be set in (CRS072) and then proposed when the new account is set up.

'Language' and 'Payment method' are always displayed on panel L, but are not mandatory fields.

Bank account fields 1-5 are mandatory if they are set up with 'Field name' and 'Length' on panel E in (CRS072).

If the 'IBAN number' field is used, the length and the check digit used are controlled.

Panel M is not used for customer bank accounts.

Setting up supplier bank accounts in (CRS692)

A new bank account can be set up in (CRS692) with bank account type 3='Supplier bank account', using a bank indicator which is set up for this purpose in (CRS072).

The 'account holder' is supplier defined in (CRS620). 'Bank priority', 'Status', and 'Bank account name' are always mandatory, independently of the setting of the bank account indicator. However, default values can be set in (CRS072) and are then proposed when the new account is set up.

'Language' is always displayed on panel L, but it is not a mandatory field.

Bank account fields 1-5 are mandatory if they are set up with 'Field name' and 'Length' on panel E in (CRS072).

If the 'IBAN number' field is used, the length and the check digit used are controlled. This is true for panels K and M.

Panel M is used for 'Intermediary bank information'. Intermediary banks serve as third-party banks that coordinate with beneficiary banks to facilitate international fund transfers and transaction settlements.