Overview
This program is used to set up Bank Accounts for use by bank-related Rootstock Financial transactions.
Prerequisites
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Financial Company Master: A Financial Company Master must exist for the Company that owns the Bank Account record being added.
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Currency Master: A Currency Master record must exist for the Bank Account's currency.
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GL Accounts (Chart of Accounts): Needed GL Accounts must exist.
Navigation
Financial System Admin > Bank Account
Processing
From the Bank Account List View,
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Click New Bank Account to create a new Bank Account or click Edit link to edit an existing account.
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When using the Bank Integration, select a Bank Account and click the Import Statements button to import the financial statements directly into Rootstock using Plaid.
Fields
Company: The Company that owns this Bank Account.
Bank Account Name: The name of the Bank Account.
Institution: The Banking Institution where this Bank Account resides.
Bank Currency: The currency for this Bank Account.
Associated GL Account: The GL Account associated with this Bank Account.
Last Check Number: The last check number issued against this Bank Account. When making payments, check numbers less than this number cannot be used. After the payment by check is posted, this number is increased automatically by the system.
Routing Number: The Routing Number that identifies the Bank.
Bank Account Number: Up to 30 characters in length.
Check Print Template: The Check template for printing checks from this Bank Account.
Current First Valid Check Number: This represents the first valid check number. Check numbers less than this number cannot be used.
Reconciliation Method: This is the reconciliation method applicable to the Bank Account. Options are None, Download, and Manual Entry.
No Statement Recon Txn Type Restriction: When checked, the requirement that the Transaction Types of the Statement Transaction and the System Transaction must match in manual reconciliations are removed.
Bank Card Account: When checked, it indicates that this Bank Account is a Bank Card account and is used in the bank card process, not in AP payments or Cash Receipts.
International Bank Account Number: This field holds the International Bank Account Number (IBAN) for this Bank Account. The IBAN is assigned to Bank Accounts in many countries, including the European Union (EU) countries.
Business Identifier Code: The SWIFT Address (also known as BIC code) is assigned to a bank for sending automated payments between it and other banks. The code uniquely identifies the name and country (and sometimes the branch) of particular banks.
Bank Account Can Be Deleted: This field designates a Bank Account as eligible for deletion. When no transactions exist for a Bank Account, this field must be set to TRUE before the Bank Account is allowed to be deleted.
Cash Withdrawals Applicable: When checked, cash withdrawals may be made from this Bank Account.
Checking Account Applicable: When checked, checks may be written against this Bank Account.
Credit Card Withdrawals Applicable: When checked, credit card withdrawals may be made from this Bank Account.
EFT Withdrawals Applicable: When checked, EFT withdrawals may be made from this Bank Account.
Bank Account Branch: The branch of the Banking Institution where the Bank Account resides.
Branch City & State: The city and state of the Bank Account Branch.
Bank ID Numerator: The numerator portion of the Bank ID number.
Bank ID Denominator: The denominator portion of the Bank ID number.
Current Last Valid Check Number: This represents the last valid check number. Check numbers greater than this number cannot be used.
Vendor Company: For Bank Card accounts only. This is a lookup to the Vendor Master record of the Bank Card Vendor.
Transactional Currencies: In a multi-currency implementation, this field lists any currencies other than the Bank Account currency that can be used in transactions for this Bank Account.
NOTE If a Bank Account has a value for 'Transactional Currencies' and a Payment Selection Session is created for this Bank Account, then the Session will display those Vendors and Invoices that are transacted in Bank Account Currency and any currency listed on the 'Transactional Currencies' field.
Transact in All Currencies: In a multi-currency implementation, this field indicates that this bank account can transact in any/all currencies.
Bank Statement Mapping Tab
When the Reconciliation Method is Download, the Bank Statement Mapping Tab is displayed. The Rootstock system transaction types are mapped to the transaction type values supplied by the bank in the bank statement file. For example, if the bank identifies Accounts Payable EFT Payments as Outgoing EFT in the interface files they send, then set the AP EFT Payment (General) field to Outgoing EFT.
AP Check: When this string of characters appears in the BRATO Transaction Type field of an uploaded BRATO record, the Transaction Type field is reset to AP Check.
AP EFT Payment (General): When this string of characters appears in the BRATO Transaction Type field of an uploaded BRATO record, the Transaction Type field is reset to AP EFT Payment (General).
AP ACH Payment: When this string of characters appears in the BRATO Transaction Type field of an uploaded BRATO record, the Transaction Type field is reset to AP ACH Payment.
AP ACH/EFT Fees: When this string of characters appears in the BRATO Transaction Type field of an uploaded BRATO record, the Transaction Type field is reset to AP ACH/EFT Fees.
AR Cash Deposit: When this string of characters appears in the BRATO Transaction Type field of an uploaded BRATO record, the Transaction Type field is reset to AR Cash Deposit.
AR ACH/EFT Deposit: When this string of characters appears in the BRATO Transaction Type field of an uploaded BRATO record, the Transaction Type field is reset to AR ACH/EFT Payment Reported by Bank.
Transfers/Adjustments Made by JE: When this string of characters appears in the BRATO Transaction Type field of an uploaded BRATO record, the Transaction Type field is reset to Transfers/Adjustments Made by JE.
Bank Fees/Service Charges: When this string of characters appears in the BRATO Transaction Type field of an uploaded BRATO record, the Transaction Type field is reset to Bank Fees/Service Charges.
AR Credit Card Deposit: When this string of characters appears in the BRATO Transaction Type field of an uploaded BRATO record, the Transaction Type field is reset to AR Credit Card Payment.
Credit Card Processing Fee: When this string of characters appears in the BRATO Transaction Type field of an uploaded BRATO record, the Transaction Type field is reset to Credit Card Processing Fee.
Interest Income: When this string of characters appears in the BRATO Transaction Type field of an uploaded BRATO record, the Transaction Type field is reset to Interest Income.
Interest Expense: When this string of characters appears in the BRATO Transaction Type field of an uploaded BRATO record, the Transaction Type field is reset to Interest Expense.
All Other Adjustments: When this string of characters appears in the BRATO Transaction Type field of an uploaded BRATO record, the Transaction Type field is reset to All Other Adjustments.
Bank Integration Data Tab
Integration Type: A system-populated field based on the integration the Bank Account is associated with.
Financial Institution ID: The Financial Institution ID provided by the integration.
Financial Institution Name: The Financial Institution Name provided by the integration.
Financial Institution Account Number: The Financial Institution Account Number is provided by the integration.
Financial Institution Linked Date: The date the Bank Account was linked to the integration.
Last Transaction Sync Date: This field will store the last time the transactions were synced with the system.
NOTE This tab is visible only when the 'Enable Bank Integration' is set as true on the System Configuration. The fields within this tab are only for reference purposes and are automatically populated by the system.
Export References Tab
JBF – EFT Requestor ID: This field carries the EFT Requestor ID for this Bank Account, which is used in the Payment Session Japanese Bank Export process.
JBF – Remitting Bank Number: This field carries the Remitting Bank Number for this Bank Account, which is used in the Payment Session Japanese Bank Export process.
JBF – Remitting Branch Number: This field carries the Remitting Branch Number for this Bank Account, which is used in the Payment Session Japanese Bank Export process.
Create Payment Session SEPA XML File: This field activates the creation of a SEPA-formatted XML file as part of the posting of Payment Selection Session batches generated for this Bank Account. (Only EFT transactions are included.)
SEPA XML File Format: When the SEPA Export feature is enabled, this field controls the country standards for creating the XML file. The valid options are:
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BANKGIRO
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Netherlands
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Netherlands Domestic
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Norway
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Poland
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Standard Format DE
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Standard Format EU
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Standard Format V3
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Sweden
NOTE If the field 'Create Payment Session SEPA XML File' is checked, then values for fields 'SEPA XML File Format' and 'International Bank Account Number' must be provided.
Glossary
BRATO = Bank Statement upload object
BRATO Transaction Type = Bank Statement transaction reference (for example, Check, Deposit, Fees, etc.)
SEE ALSO
Financial Company Master
Payment Selection
Bank Reconciliation
Bank Reconciliation - Setup Requirements
