Bank Accounts
One record per account the company holds at a bank: the account number, the bank, the currency, the IBAN and SWIFT code, the dates it is valid, and the general ledger account that stands for it in the books.
What it is for
It keeps the bank details of each account in one place. A Bank Facility Agreement picks an account from here, and its lookup offers only the accounts of the Bank already picked. A Letter of Credit has the same lookup.
The rule people get wrong: the Account field here records the general ledger account; it does not drive any posting. Postings take their accounts from the payment method, the journal or the document line.
Every field in plain words
Header
| Field | What it means | What to put |
|---|---|---|
| Account Number | The account's number, and the record's key | Required. Save refuses an empty or already used number |
| Name | A name for the account | Required. Kept per language |
| Bank | The bank holding it | From Bank |
| Currency | The account's currency | Optional |
| Routing Number Type, Routing Number | The branch routing details | Optional |
| Swift Code | The bank's SWIFT or BIC code | Optional |
| IBAN | The international account number | Optional |
| Date From, Date To | When the account is in use | Optional. Shown in the lookups, not checked by any document |
| Account | The general ledger account for this bank account | Optional. Recorded only |
Address and Contacts tabs
The bank branch's address lines (Name of Address, Address, country, state, city, tax zone, time zone, coordinates) and contact persons.
How to configure it
The screen allows Create, Edit, Delete and import.
Scenarios
- A trading company holds a local-currency current account and a foreign-currency account at the same bank. Two records, each with its own Currency and IBAN, both naming the same Bank.
What it is connected to
- Bank - the bank of the account.
- Bank Facility Agreement and Letter of Credit - pick an account from here.
If something looks wrong
- The account is not offered on a facility agreement. Pick the Bank first; the lookup shows only that bank's accounts.