Set up bank accounts for customers

  • 6 minutes

To enable electronic payments for customers, you'll need to set up the bank information on the customer page. The purpose for setting up customer bank accounts is to set up customer payment files that you can use for transactions, such as direct debits, in the system.

To set up customer bank information, go to Accounts receivable > Customers > All customers. On the Action Pane, under the Customer menu, select the Bank accounts button in the Set up section.

Screenshot of the All customers module showing the Set up section and the Bank accounts button.

The Customer bank accounts page will open, where you can create multiple bank accounts for the customer. The Customer bank accounts page has five FastTabs with various information related to the bank and the account: General, Payment, Prenotes, Address, and Contact information.

Screenshot of the Customer bank accounts page showing the five FastTab options.

General

The General FastTab captures information that's related to bank groups, which contains general information about the banks in a group. The following list describes important available options:

  • You can enter the Routing number, which is a nine-digit code that identifies the bank. A Routing number type, which has two characters, is also available.
  • You can add the SWIFT code, which is required during overseas bank transactions.
  • You can enter the international bank account number (IBAN), which is a standard international numbering system that identifies an overseas bank account.
  • In the Currency field, you can enter the default currency in which the bank performs the transactions.

Screenshot of the available General FastTab options.

Payment

In the Payment FastTab, you can enter some values that are required for various configurations:

  • You can enter Text code to specify text on the bank statement of the recipient.
  • In the Message to bank field, you can enter the message to be sent to the bank together with the payment.
  • In the Exchange reference field, you can enter the reference number of any forward-term or fixed-term rate of exchange.
  • The Cross rate field allows you to enter the negotiated exchange rate for the customer.

Screenshot of the Payment FastTab with available options.

Prenotes

To enable a prenote for your organization’s bank account, go to Cash and bank management > Bank accounts and then open the Bank accounts page. Important available options include:

  • In the Payment management FastTab, you can change the value of the Prenote required toggle to Yes. Also, you can enter a value in the Prenote response days field.

Screenshot of the Payment management FastTab and prenotes options.

  • Go to Accounts receivable > Periodic tasks to open Create prenotes.
  • In the Create prenote dialog, you can enter the Bank name, which is enabled for prenote, and the other values in the fields and then select the OK button. Prenotes will be created in the Prenotes FastTab of the customer bank account. Their status will be Pending until your organization’s bank approves them.

Screenshot of the Create prenotes page and the available options.

Address

In the Address FastTab, select the New button to add the address. The system will take you to the New address dialog. You'll need to add the Name or Description of the bank along with the Country/region and Street. The Zip/postal code information is integrated with the global address book. After you've selected the Zip/postal code, other address fields will populate automatically.

Contact information

In the Contact information FastTab, you can enter the contact person in the bank who handles the current customer.