Using multiple bank accounts

Several bank details can be maintained for each debtor, creditor, or client account by using separate bank subcodes for each set of details.

This enables you to define any number of banks from which you can draw funds, or into which you can deposit funds, when settlement is by bank transfer.

You may need more than one bank account so you can process different currencies for a creditor or debtor account. You settle the account by currency, and consequently through different bank accounts. For example, you might identify a US dollar bank account for a range of suppliers, using a bank code of USD. When you choose to settle these accounts, you can select the USD currency transactions and the USD bank accounts. Payments are generated or collected into the appropriate currency account.

The default bank subcode for a customer or supplier can be identified in Customers (CUS) or Supplier (SUS). Additionally, you can select the bank subcode in Payment Profiles.