The Bank Account model allows users to define and keep track of all bank accounts in the e-Business Suite in one place and explicitly grant account access to multiple operating units/functions and users. Bank accounts for internal use are consolidated in:
Payables
Receivables
Treasury
Global Financials
CRM
The Bank Account model reduces the number of access points to manage bank accounts by providing a centralized user interface where all internal bank accounts can be set up.
Bank account access in this model can be granted to multiple operating units, thus eliminating the redundant duplicate bank account setup under different operating units in case these operating units share the same bank account. This will also simplify the reconciliation process since now one bank account is the system corresponds to one bank account at the bank.
To set up Bank Account model:
Define Banks in Oracle Cash Management.
Define Bank Branches in Oracle Cash Management.
If you intend to use this bank account in Oracle Treasury as a company bank account, switch to that application, define Bank Counterparties and link them to Bank Branches that you have created. If you do not intend to use this bank account in Oracle Treasury, skip this step and proceed straight to the Bank Account definition.
Then, create your Bank Accounts in Oracle Cash Management.
If you do not intend to use this bank account in Payroll, then the setup process is complete for you. If you intend to use this bank account in Payroll, switch to that application and add Payroll properties.
When you access the bank setup, the first page shows you all the banks, bank branches and accounts that have already been created. You can navigate the hierarchy at the country, bank, branch and bank account level.
The first step in the bank account creation is the bank definition. This page allows you to search for existing banks, view and update them or create new banks.
Navigate to the Manage Banks and Branches window, select the Banks tab, and select the Create button.
Select one of the two radio buttons in the Bank Options region. When creating a new bank, you can either create a new bank or add bank details to an existing party defined in your Trading Community.
Enter a country name or select a country from the list of values. This is a mandatory field.
Enter the Bank Name.
(Optional) Enter an Alternative Bank name, Short Bank Name, Bank Number, Description, Taxpayer ID, Tax Registration Number, Inactive Date.
Select Finish to save your bank or select Save and Next to enter Bank Address information.
You can maintain several addresses for the bank in case, for example, when the bank has different mailing and physical locations. One of the addresses has to be marked as a primary or identifying.
Navigate to the Create Bank Address window and select the Create button.
Enter a country, or select one from the list of values.
Enter the remaining country specific address details.
Select Apply to save the address.
Select Finish to complete the bank creation or select Save and Next to enter Bank Contact Information.
Similar to multiple addresses, you can maintain multiple contacts at the bank.
Navigate to the Create Bank Contact window and select the Create button.
Enter Contact Information. You need only enter a first or last (Family) name, a Registry ID, and Start Date.
Optionally enter Email, Phone, and Address information for the contact.
Select Apply to save the contact.
Select Finish to complete the bank creation.