This section includes the following topics:
Defining Internal Bank Accounts: page 2 – 69 Defining Customer Bank Accounts: page 2 – 71 Defining Supplier Bank Accounts: page 2 – 72
Defining Multiple Currency Bank Accounts: page 2 – 73 Defining Foreign Currency Bank Accounts: page 2 – 74
Defining Internal Bank Accounts
You define internal bank accounts to define bank accounts for which you are the account holder. Receivables uses internal bank accounts to receive payments from customers. Payables uses internal bank accounts to disburse funds to suppliers.
Prerequisite
❑
You have installed Receivables.❑
Define custom payment formats for Payables payment documents if you are defining a disbursement bank account. (Optional)." To define a basic bank account for receipts:
1. In the Banks window query an existing Bank.
2. Choose the Bank Accounts button. Enter the Bank Account Name and Bank Account Number (account numbers must be unique within a bank branch). Optionally enter an Account Type and Description.
3. If you want to use Bank Account validation, enter Check Digits.
4. Select Internal Account Use.
5. In the GL Accounts region, enter a Cash Account.
6. In the Receivables Options region, enter GL Account information for Remitted Receipts, Factored Receipts, and Short Term Debt.
7. In the More Receivables Options region, optionally enter Receipt and Discount GL Account information. See also: Defining Accounting Flexfield Combinations (Oracle General Ledger User Guide).
Optionally enter the Receivables Activity to use for earned and unearned discounts, or select from the list of values. Receivables Activities provide default general ledger accounts for discounts created in Receivables.
8. Optionally enter contact information in the Account Contact region.
9. Save your work.
Prerequisite
❑
You have installed Payables2. Choose Bank Accounts. Enter the Bank Account Name and Bank Account Number. If you will use this bank for payments you make with the e–Commerce Gateway, enter an Account Type. Optionally enter a Description. The currency defaults from your functional currency.
If you want to use Bank Account validation, enter Check Digits.
3. Select Internal Account Use.
4. In the GL Accounts region, enter the following accounts: Cash, Cash Clearing, Bank Charges, Bank Errors.
5. In the Payables Options region, enter default information for your payment batches. Record whether you allow zero–amount payments.
If you use Automatic Offsets indicate if this is a pooled account.
6. Optionally enter contact information in the Account Contact region.
7. Proceed with Defining and Maintaining Payables Payment Documents in the Oracle Payables User Guide.
Defining Customer Bank Accounts
If you use Receivables, you can enter bank account information for your customers. Receivables uses this information when you receive electronic payments from your customers.
" To define a customer bank account:
1. In the Banks window query an existing Bank.
2. Choose the Bank Accounts button. Enter the Bank Account Name and Bank Account Number. Optionally enter an Account Type and Description.
If you want to use Bank Account validation, enter Check Digits.
3. Select Customer Account Use.
4. Optionally enter contact information in the Account Contact region.
5. Save your work.
See Also
Bank Accounts Window Reference: page 2 – 78 Automatic Receipts: page 6 – 171
Defining Supplier Bank Accounts
If you use Payables, you can enter bank information for bank accounts for which your supplier is the account holder. You then assign these accounts to the supplier and its sites. Payables uses this bank information when you create electronic payments for your suppliers.
You can either define the supplier first and then when you define the bank account you can associate it with the supplier in the Supplier Assignments region (as described below). Or you can define the bank account first and then assign it to the supplier when you enter the supplier in the Suppliers window.
Prerequisite
❑
Define the suppliers and supplier sites that use the bank account to receive electronic payments." To define a supplier bank account:
1. In the Banks window query an existing Bank.
2. Choose the Bank Accounts button. Enter the Bank Account Name and Bank Account Number.
Suggestion: Use the supplier name or supplier number in the bank account name and description to make it easy to identify later.
3. Enter the EDI ID number only if you have installed Oracle Energy.
Optionally enter an Account Type and Description.
4. Optionally change the account currency, which defaults from your functional currency. Leave the account currency blank if you want
option. See: Factoring Arrangements in the Oracle Payables User Guide.
8. In the Supplier Assignments region list the supplier, and optionally list supplier sites, that use the account to receive electronic
payments.
9. Optionally enter account holder information in the Account Holder region.
Note: If you are processing NACHA–formatted electronic payments, in the Alternate Account Holder field, enter the exact name of the tax reporting entity that should be referenced by the NACHA payment format.
10. Optionally enter contact information in the Account Contact region.
11. Save your work.
12. In the Bank Accounts region of the Suppliers and Supplier Sites windows, verify for each supplier and site that all appropriate bank accounts are listed. For suppliers and supplier sites with multiple bank accounts, designate as the primary bank account one bank account per period and per currency.
Note: During invoice entry, supplier bank accounts default from the supplier site to the scheduled payments on an invoice.
When you make a bank account or supplier bank account inactive, Payables does not automatically update any open invoices that have the account on scheduled payments.
However, you will receive a warning message if open invoices exist with the inactive account. You should then review the invoices and make any necessary changes. Payables ensures that a payment cannot be made to an inactive supplier remittance account. Payables will notify you if you attempt such a payment.
Defining Multiple Currency Bank Accounts
A multiple currency bank account is an account that accepts payments in more than one currency.
If you define a multiple currency bank account for payments, the currency of the bank account must be the same as your functional currency.
Prerequisites
❑
Enable the Use Multiple Currencies Payables option. (Oracle Payables User Guide)❑
Enable the currencies you need in the Currencies window. See:Currencies Window (Oracle General Ledger User Guide).
" To define a multiple currency bank account:
1. Define a basic bank account for receipts or disbursements. See:
Defining Bank Accounts: page 2 – 69.
• If you are defining a bank account for receipts, in the Receivables Options region, enable the Multiple Currency Receipts option.
• If you are defining a bank account for disbursements, in the Payables Options region, enable the Multiple Currency Payments option and enter Realized Gain and Realized Loss accounts.
Proceed with Defining and Maintaining Payables Payment Documents in the Oracle Payables User Guide. You can define payment documents that use a payment format with any currency.
2. Save your work.
Defining Foreign Currency Bank Accounts
Prerequisites
❑
Enable the Use Multiple Currencies Payables option.❑
Enable the currencies you need in the Currencies window. See:Currencies Window (Oracle General Ledger User Guide or online help).
" To define a foreign currency bank account:
1. Define a basic bank account for receipts or disbursements. See:
Defining Bank Accounts: page 2 – 69.
• If you are defining a bank account for disbursements, in the
document that uses a payment format with the same foreign currency as the bank account.
2. Save your work.
See Also
Bank Accounts Window Reference: page 2 – 78 Bank Account Validation by Country: page 2 – 85 Foreign Currency Transactions: page 4 – 33 Entering Flexible Addresses: page 3 – 94