Set Up Vendor Bank Accounts

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In Sparkrock 365, a vendor can have one or multiple bank accounts. On the vendor bank account card, you can enter the information that is required to process payments to the vendor through the export of bank feeds and files.

To create a vendor bank account

1. Choose , enter vendors, and then choose the related link.

   The Vendors page opens.

2. Select the vendor for which you want to create a vendor bank account, and then on the action bar, choose Related > Vendor > Bank Accounts.

   The Vendor Bank Account List page opens.

3. On the action bar, choose New.

   The Vendor Bank Account Card page opens.

4. On the General FastTab, perform the following steps:

   1. In Code and Name, specify the code and a name for the bank.
   2. Specify the bank account’s address details.
   3. In Currency Code, specify the bank account’s currency.
      If the bank account uses your local currency, leave the field blank.
   4. In Bank Code, specify the bank code for the vendor bank account.
   5. In Bank Branch No., specify the branch number.
   6. In Bank Account No., specify the number for the vendor bank account.
   7. In Transit No., specify a bank identification number.

5. On the Communication FastTab, specify the communication details, such as Email and Home Page.

6. On the Transfer FastTab, perform the following steps:

   1. In SWIFT Code, specify the SWIFT code (international bank identifier code) of the bank where the vendor has the account.
   2. In IBAN, specify the bank account's international bank account number.
   3. In Bank Clearing Standard, specify the format standard to be used in bank transfers if you use the Bank Clearing Code to identify you as the sender.
   4. In Bank Clearing Code, specify the code for bank clearing that is required according to the format standard that you selected in Bank Clearing Standard.
   5. To specify that this bank account is to be used for electronic payments, turn on Use for Electronic Payments.

   When you must change the IBAN number on a vendor bank account card, you can still track payments to the old IBAN number. Credit transfer register entries store the recipient IBAN and recipient bank account number that was specified on the vendor bank account card when the entries are created.

   

Set up the preferred vendor bank account

When you enter a vendor in a payment journal, the vendor’s preferred bank account is suggested on the payment journal line.

To set up the preferred bank account for a vendor

1. Choose , enter vendors, and then choose the related link.

   The Vendors page opens.

2. Select the vendor for which you want to set up a preferred bank account, and then on the action bar, choose Manage > Edit.

   The Vendor Card page opens.

3. On the Payments FastTab, in Preferred Bank Account Code, specify the preferred bank account.

   This bank account is the vendor bank account that is to be used by default on payment journal lines for export to a payment bank file.

Next unit

Set Up Payment Registrations

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