Bank Accounts

In Treasury, you can store information about bank accounts in your database, such as bank names, account numbers, and account types. When you create a file to send to your organization’s bank, you select the bank to process all financial transactions included in the file. For example, when you generate a direct debit transmission file, you select a bank in the Bank account field on the Add a direct debit file process screen. The bank you select processes the financial transactions included in the transmission file.

You manage your organization’s banking information from the Manage Bank Accounts page. To access the Manage Bank Accounts page in Treasury, select Manage bank accounts.

Under Bank accounts, you can view the banks in the database. For each bank, you can view its name, account type, routing number, account number, balances, and whether or not the bank account is open or closed. You enter this information when you add the bank account to the database. To update the information that appears in the grid, select Refresh on the action bar.

Depending on your security rights and system role, you can manage bank accounts from the Manage Bank Accounts page. For information about adding a bank account, refer to Add a Bank Account. For more information about how to edit, close, or delete a bank account, refer to the Bank Accounts Page.

1. From Treasury, select Manage bank accounts. The Manage Bank Accounts page appears.

2. Beside Bank accounts, select Add. The Add a bank account screen appears.

3. In the Bank field, select the bank to associate with the account. From the menu, you can select any bank defined in the system. If no banks are yet defined, search for an organization to add as a bank.

4. In the Account name field, enter a unique name to help identify the account.

5. In the Account number field, enter the account number for the bank account.

6. If your organization uses multiple general ledger account systems, select the account system to use with the bank account.

7. In the Account type field, select a type of account, such as "Savings."

8. In the Routing number field, enter the account routing number. The routing number is provided by the bank.

   Note: Bank accounts must contain a unique combination of routing number and account number. For example, two accounts at two different banks could have the same account number, but they cannot have the same routing number. Likewise, two accounts at the same bank could have the same routing number, but must have different account numbers.

9. In the User number field, enter the user number or originator identification number used to identify your organization.

10. In the Minimum balance field, enter the minimum amount the bank requires for you to avoid service charges.

11. In the Client name field, enter the name used to identify your organization at the bank.

12. Under Debit/Credit, select whether to associate the bank account with a cash account or a cash code.

    • To associate the account with a cash account, select Account and then search for the cash account to associate with the bank account.

    • To associate the account with a cash code, select Account code and select the cash code to associate with the bank account.

    To create an account, select an account system from the General Ledger Setup page in Administration and select Define GL Accounts.

    Note: Selections in the Account code field use masking to generate the debit (cash) account. For example, a payment with the credit account of 01-4000-00 deposited to a bank account with a “1000” default cash account code uses masking to generate the 01-1000-00 debit (cash) account. For more information about creating a default GL cash account, refer to the Administration Guide.

13. Select Save. You return to the Manage Bank Accounts page.