Banks Maintenance

Some company offices often use banking services for payroll deposit and to monitor employee loans. This module is where all bank -or banks- details are stored.

Go to Maintenance. Select System Catalogues. Click on Banks.
System will present user with Banks Maintenance page:
- Country Code: Select the correct two-letter code from drop down menu. In case user session is restricted to only one company code, then this field will appear grayed out as it will default to the selected Company Code.
- Bank Short Name: Provides a drop down list of bank names which have been added under current Country Code.
- Bank Branch: Provides a drop down list of particular bank branches in the city or town where the company office is located.
- Bank Name: When Bank Short Name has been selected, the corresponding bank name will appear in this field.
- Send Me a Spreadsheet: User may click on checkbox to receive a list of existing banks in local company database.
- Return email address: Enter correct user email address where report should be sent.
Click on Lookup Bank.
System will take user to the Banks Maintenance –Change page, which has two sections: General Information and Accounting Information.
Follow these guidelines to change or update bank details:

General Information

Country Code: Select it from drop down menu. If user session is limited to only one company code, then Country Code will appear grayed out.
Short Name: User may enter standard bank name abbreviation, like HSBC. Field allows up to 20 characters.
Bank Name: It refers to the full bank name, like Hong Kong Shanghai Bank Corporation. Field allows up to 40 characters.
Branch: Field allows up to 20 characters.
Address 1: Enter local bank address. Field allows up to 40 characters.
Address 2: Enter additional address information. Field allows up to 40 characters.
City: Enter name of local city, or town. Field allows up to 25 characters.
State: Enter name of local state, or province. Field allows up to 25 characters
ZIP Code: Enter postal code. Field allows up to 10 characters.
Phone Number: Enter local bank telephone number. Field allows up to 10 characters.
Bank Company Code:

Accounting Information

Enable Account Type: When this checkbox is active, then the field "Account Type" in Tax Information and Upload Bank Account will become mandatory.
Funding Account: Enter the number of the account which the company uses for payroll purposes.
GL Account Number: It refers to the General Ledger account number. When company has more than one bank account, enter the number of the account which is used for payroll expenditure. Field allows up to 24 characters -including dashes.
GL Description: Enter the accounting description which will be used in payroll journal when company has more than one bank account . Examples of GL Description: "Operating Account".
Export File Name: Enter the specific name of the file which will be generated for direct payroll bank deposit. File name may vary from country to country depending on company or bank requirements. This field allows up to 30 characters.

Adding a new bank:

Go to Maintenance. Select System Catalogues. Click on Banks.
Click on the "Add" link in the upper left.
Follow the above mentioned guidelines to complete each field.
Click on the "Add" button.
System will display a confirmation message (see upper right).