Recording bank details

Bank Details Setup (BNK) is used to link bank details to customer and supplier account codes, and to maintain details of your own bank accounts.

For advanced external links to banking software, the bank details record can also be linked to the Bank Details Extension Setup (BDE).

Customers and Suppliers

The details for customers and suppliers are used for automatic payments, including direct debits and collections. The bank details are linked to a customer or supplier record, and from there to the appropriate ledger account (debtor/receivables, creditor/payables or client).

The bank details for a particular customer or supplier are identified by the linked customer or supplier account code. If a customer or supplier has more than one bank account, you assign a different bank subcode to identify each set of bank details for the same customer or supplier. For example, if a customer pays in two different currencies you may need to define separate bank details for each currency bank account; you could use a currency code such as GBP to identify this, 0-9 or A-Z. By using Bank Subcode, multiple bank details can be associated with a single chart of accounts record.

Your Own Bank Details

You can create bank details for your own company bank accounts, without linking them to a customer or supplier account code. Instead, you can link the bank details to the relevant chart of accounts record that you have defined for your bank account. In this way, it is possible to set up multiple own bank accounts, each with its own bank details and chart of accounts record.

If you use Payment Run (PYR) or Payment Collection Run (PYC), with a Payment Method of Bank in the Payment Profile (PYP), you must set up at least one bank details record and link it to your chart of accounts bank account record that you want to use for the payment or collection. You can identify the relevant bank details record on the payment profile, otherwise you must enter it during the payment or collection run itself. If your organization uses several different bank accounts for different types of payments, you can create all of the bank detail records, then create a payment profile for each payment type, identifying the relevant bank detail record for each.