Create a vendor bank account

Note

We will not be accepting edits to this topic, because it is generated from a business process in Lifecycle Services.

This procedure shows you how to create a bank account for a vendor. You can use this procedure in demo data company USMF.

  1. Go to Procurement and sourcing > Vendors > All vendors.
  2. Select the vendor that you want to create a bank account for, and then click the link on the Vendor account ID.
  3. On the Action Pane, click Vendor.
  4. Click Bank accounts.
  5. Click New.
  6. In the Bank account field, type a value.
    • This ID will be used to identify the bank account on the vendor record.
  7. In the Name field, type a value.
  8. In the Bank groups field, enter or select a value.
  9. In the Routing number type field, select an option.
    • This is the type of routing number that’s used for international payments.
  10. In the Bank account number field, type a value.
  11. In the SWIFT code field, type a value.
  12. In the IBAN field, type a value.
    • The IBAN number must be in the correct format. For example, you could use DE89370400440532013000.
    • The status of the bank account is Active if the Active date has been reached, and the Expiration date has not been exceeded. It’s also active if both the Active date and Expiration date fields are blank. If the dates in both the Active date and Expiration date fields are in the future electronic payments are not available. Other payment types are available and the bank account is active.
  13. Expand the Setup section.
  14. In the Text code field, type a value.
    • This field specifies a code that will appear on the bank statement of the recipient.
  15. In the Message to bank field, type a value.
  16. In the Exchange reference field, type a value.
    • This is the reference number for any forward-term or fixed-term rate of exchange.
  17. In the Currency field, enter or select a value.
    • When prenotes are issued, this section provides an overview of their status (pending or approved).
  18. Expand the Address section.
  19. Expand the Prenotes section.
  20. Expand the Contact information section.
  21. In the Telephone field, type a value.
  22. Close the page.
  23. Click Edit.
  24. Expand the Payment section.
  25. In the Bank account field, select the account that you’ve just created.
  26. Click Save.
    • The address may be inherited from the bank group, if one is specified, or you can add it here.