Creating bank details

You can create a bank through this activity. Tell me more.

Select the “Create Bank / Cash Details” link under the “Bank Cash Definition” business component.

The “Create Bank” page appears.

The system displays the following field:

Status	The status of the bank. It must be "Fresh".
	Fresh - status at the time of creation of Bank /Cash code It will be active only after it is mapped to an Account code.

Enter the following fields:

Bank Reference

The unique number identifying the bank (Alphanumeric, 20) Mandatory.

Bank Name

A unique name of the bank (Alphanumeric, 100). Mandatory.

Enter the following fields in the group box:

Address

The complete mail address of the bank (Alphanumeric, 40). Mandatory.

Note: Atleast one row must be filled in. You can provide the mail address in all the empty rows provided.

City	The city in which the bank is located (Alphanumeric, 40).
State	The state in which the bank is located (Alphanumeric, 40).
Zip	The postal code of the city (Alphanumeric, 20).
Country	Use the drop-down list box to specify the country in which the bank is located. All the countries that have been defined in the “Organization Setup” business component will be available for selection in the ascending order.

Phone No.	The phone number of the bank along with the country code and area code (Alphanumeric, 20).
Fax	The fax number of the bank (Alphanumeric, 20).
Telex	The telex number of the bank (Alphanumeric, 20).
E-Mail	The electronic mail address of the bank (Alphanumeric, 60).
Mailstop	The mailstop number of the bank (Alphanumeric, 60).
Bank Clearing No.	A unique number allotted to a bank by the central bank of the country for carrying out inter-bank transactions at the clearing center (Alphanumeric, 32).
Swift No.	A unique number, used while transacting with international banks (Alphanumeric, 20). This number will be necessary for file transfer of payments and receipts. The swift number must be unique across the login organization unit.
Bank Type	Use the drop-down list box to select the type of bank. All the bank types that have been defined in the “Quick Code Definition” business component will be available for selection. For example, you can select “Foreign Bank” and so on. The system displays “Blank” by default.

Enter the following fields in the “Bank Account Information” group box to set the limit for the bank account.

Bank Account No.	A unique number identifying the bank account (Alphanumeric, 20). Mandatory.
Credit Limit	The maximum amount till which the company can use for transactions from a bank account (Decimal). The value entered in this field must be greater than zero.
Drawable Limit	The amount till which the company can draw funds from the bank (Decimal). The value entered in this field must be greater than zero.

Note: The limit entered in this field must not be more than the credit limit for the account number.

Currency

Use the drop-down list box to select the transaction currency of the bank. All the currency codes that must be defined in the “Organization Setup” business component and that have been set as permitted currencies for the company will be available selection in the alphabetical order.

Note: If the base currency of the company is INR and the currency assigned to the bank account is also INR then you can post transactions in any currency including the INR. If the base currency of the company is INR and the currency assigned to the bank account is USD then you can post transactions only in USD.

Enter the following in the “Credit Card Information” group box:

Credit Card Account?	Use the drop-down list box to specify whether the Bank Account is a Credit Card Account or not. You can select from the options ‘Yes’ and ‘No’. By default the system leaves this field blank.
Recon. Required?	Use the drop-down list box to specify whether Bank Reconciliation for the given account is required. You can select from the options ‘Yes’ and ‘No’. By default the system leaves this field blank.
User Defined 1	Use the drop-down list box to specify the Customer specific values. The system lists only those quick codes from the entity created for the purpose Bank User Defined -1' By default the system leaves this field blank.
User Defined 2	Use the drop-down list box to specify the Customer specific values. The system lists only those quick codes from the entity created for the purpose Bank User Defined -2'
User Defined 3	This field can be used to capture any Customer specific values
User Defined 4	This field can be used to capture any Customer specific values.

Enter the following in the “Electronic File Information” group box.

Based on Supplier Bank Type

Use the drop-down list box to indicate whether the supplier bank type must be the basis for EFT payment. Select,

“Yes”, to indicate EFT is based on supplier bank type. The system generates individual pay vouchers for every combination of Supplier, Pay-to Supplier, Pay Mode and, Supplier Bank Type fields.
“No”, to indicate EFT is not based on supplier bank type. The system generates individual pay vouchers are generated for every combination of Supplier, Pay-to Supplier and, Pay Mode fields.

Enter the following fields in the “Bank Book Details” multiline:

Bank Code

A unique bank code (Alphanumeric, 32). Mandatory. This bank code is specified for easy identification of bank account. The bank code must be unique across the company.

Note: The bank codes are unique to finance book and cannot be used across the finance book. There can be many bank codes assigned to one bank account number.

Description	The description of the bank code (Alphanumeric, 40). Mandatory.
Map to Finance Book	Use the drop-down list box to select the finance book to which the bank code must be mapped. All the finance books that have been created in the “Organization Setup” business component and that have been mapped to the login organization unit will be available for selection in the alphabetical order.

Note: The bank code and finance book mapping must be unique.

Credit Limit	The maximum amount till which the company can use for transactions from a bank code (Decimal). This credit must not exceed the credit limit set for the corresponding bank account number.
Drawable Limit	The amount till which the company can draw funds from the bank code (Decimal). The value entered in this field must be greater than zero.

Note: The sum total of the drawable limits of all the bank codes defined for a bank account number must not exceed the drawable limit set for the bank account number.

The drawable limit must not exceed the credit limit of the bank code.

Over Draft Amount	The amount overdrawn from the bank account number (Decimal). This amount must not exceed the credit limit set for the bank account.
Effective Date For Interest Rate	The date from which the interest rate for debit and the credit balance is effective (Date Format).
Interest Rate for Overdraft Balance	The interest rate charged on the overdraft amount (Decimal). The value entered in this field must not exceed “100”.

Note: This field must not be left blank if a value is entered in the “Overdraft Amount” field.

Interest Rate for Dr Balance	The interest rate on the debit balance held by the company in its bank account (Decimal). Interest rate is charged if the debit amount exceeds the credit limit. The rate entered in this field must not exceed “100”.
Interest Rate for Cr Balance	The interest rate on the credit balance held by the company in its bank account (Decimal). Interest rate is charged if the credit amount exceeds the credit limit. The rate entered in this field must not exceed “100”.

Check the box in the “Select” column of the multiline to mark a bank code for setting the transactions for which it can be used.
Click the “Create Bank” pushbutton to create the bank details.

The system saves the details and updates the status of the bank to “Fresh”.

The system displays the following:

Created By	The login ID of the user who created the bank.
Created Date	The date on which the bank is created.

To proceed, carry out the following

Select the “Create Cash Book Details” link at the bottom of the page to create the cash book.
Select the “Create Bank Contact Details” link at the bottom of the page to capture the bank contact details.
Select the “Create File Transfer Details” link at the bottom of the page to create the file transfer details.
Select the “Bank Usage Information” link at the bottom of the page to capture the bank usage information.
Select the “Attach Notes” link at the bottom of the page to attach notes.

Creating bank details – An overview

This page allows you to create a bank. You can enter a unique number identifying the bank reference. You can also enter the communication details of the bank. If the bank is headquartered in a different country you can also specify it. You can also enter the unique clearing number for the bank.

This page also allows you to set the credit limit and the drawable limit for a bank account. You can create multiple bank codes for a bank account number. These codes are created for the “Posting” finance book of a company. You can also set the credit limit, drawable limit and the interest rate for the debit or credit balances of the individual bank codes.

The system saves the details of the bank and updates the status as “Fresh”. The system also stores the login ID of the user and the system date along with the bank details

Prerequisites

Finance book must be created in the “Create Finance Book” activity of “Organization Set Up” business component.
Country and currency must be defined in the “Create Currency and Country” activity of “Organization Set Up” business component.

What you can do in this page

Set the currency in which the bank transaction has to take place

Set the credit and drawable limit for the bank account

Set the credit limit, drawable limit and the overdraft amount for bank code

Set the basis of EFT creation

Set the currency in which the bank transaction has to take place

If the currency assigned to the finance book is INR and the currency code assigned to the bank account is INR, then the transactions can be in any currency including INR (base currency). If the currency assigned to the finance book is INR and the currency code assigned to the bank account is USD, then the transactions can be only in USD and no other currency.

Provide the unique bank reference code.
Specify the currency in which the transaction takes place.

Set the credit and drawable limit for the bank account

You can set the drawable limit for the bank account of the bank.

Specify the unique number for bank account.
Set the credit and the drawable limit for the account
Click the “Create Bank” pushbutton after adding bank codes for the bank account.

Set the credit limit, drawable limit and the overdraft amount for bank code

You can set the credit limit, drawable limit and the overdraft amount for each bank code.

Specify the unique number for the bank for easy identification.
Set the credit limit, drawable limit and the overdraft amount for the bank code.
Click the “Create Bank” pushbutton to create the bank.

Set the basis of EFT creation

Specify whether EFT must be based on the Supplier Bank Type