Create Bank / Cash Details – A summary of the activity

This activity allows you to create bank / cash details for a company. A company can have many bank accounts for its business transactions like payments to suppliers or receipt of payments from customers.  The receipt and payments can also be made using various file transfer modes like ESR, LSV and so on.

Every bank through which a company transacts is assigned a unique bank reference. The communication details of the bank can also be entered for a bank reference. Multiple bank account numbers can be created for a bank reference. Similarly, multiple bank codes can also be created for a bank account number. These bank codes would transact in the same currency as that of the bank account number.

These bank codes would be created for multiple “Posting” finance book. This would facilitate posting of transaction amounts in various bank codes that have been mapped to a bank account number. This helps in easy identification of the bank in the transaction during bank reconciliation. You can also set the credit limit, drawable limit for a bank account number.  

This activity also allows you to define cash codes. The cash code is maintained in a currency. This cash code is mapped to a “Posting” finance book.

This activity also allows you to set various usages like employee receipts / payments, sundry receipts / payments, supplier receipts / payments, customer receipts / payment and so on for a bank code. You can also set similar usages for cash code. This activity also allows you to record your observations regarding the newly created bank accounts.

 

 

 

 

 

 

 

 

 

Getting familiar with the pages

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Create Bank

Creating bank details

Create Cash Book Details

Creating cash book details

Create Usage Information

Defining cash usage information

Create Bank Contact Details

Creating bank contact details

Create File Transfer Details

Creating file transfer details

Bank Usage Information

Defining bank usage information

Attach Notes

Attaching notes

 

 

 

 

 

 

 

 

 

 

What you can do in this activity

Create bank details

Define multiple cash accounts

Capturing bank details along with the swift and the Clearing number

Define bank as the foreign bank

Defining bank / cash account usage in various business component

Defining file transfer details for electronic payments

 

 

 

 

 

 

 

 

 

 

Create bank details

You can define the bank by providing a unique reference number and a bank code for each bank account number. You can capture various information during bank creation.

The system creates the bank in “Fresh” status. The bank code will be in active status till the posting account is mapped to bank code. This mapping is done in the “Account Rule Definition” business component.

Define multiple cash accounts

You can define various cash accounts and the currency in which it is transacting. You can define multiple cash accounts.

Capturing bank details along with the swift and the Clearing number

You can define the clearing number for carrying out the inter bank transaction and the swift number to transact with the international banks.

Define bank as the foreign bank

You can define the bank as the foreign bank.

Defining bank / cash account usage in various business component

You can specify the usage of the bank and the cash account in various business components. The particular business component can use the bank or cash account only if it has been mapped.

Defining file transfer details for electronic payments

You can capture the file transfer details for the electronic payments for the bank.