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Initial setup - organization's bank accounts

Company bank accounts provide the account and bank details selected in payment documents and printed forms.

Have the bank's actual account details ready before creating a record.

Create the bank account​

  1. Open Master data and settings > Company bank accounts and choose Create.
  2. In Company bank account, enter Description so the account can be identified in lists.
  3. Complete the required Account number using the bank's account details.
  4. Select Bank from the bank catalog and verify its code and name. Use Enter bank details manually… if manual bank-detail entry is needed.
  5. Select Currency and confirm that it matches the actual account currency.
  6. Review Use in print forms and fill any applicable correspondent-bank details.
  7. Check Account is closed; use it according to the actual status of the account.
  8. On Account settings, review the account type and any minimum or critical balance values used by your company.
  9. Save the record after checking the details.

Configure bank file exchange only if used​

Open Bank exchange when setting up file exchange. Review Bank EDI is enabled, the directory/file mode, import and export locations and Exchange format according to the bank exchange process agreed for this account.

The format list includes ISO 20022. A format name alone does not confirm compatibility with a particular bank; verify the required format and file settings before using exchange. Do not enable EDI merely to create an account record.

Check the result​

Find and reopen the saved account. Compare its description, account number, bank and currency with the bank's records. Check the printed-form setting and any account-status values.

When selecting it in a payment or document, confirm that the account and currency are appropriate for the company and transaction shown in that document. Do not infer the company from the account's description alone.

If the account cannot be used​

Check required account and bank details, the currency and whether the account is marked closed. For exchange problems, verify the agreed format and file locations separately from the account details.

See also currencies and exchange rates and advance payments.

For statement-file loading and checking imported transactions, see Importing bank statements. Configuring a bank account or exchange format does not itself import or reconcile a statement.