Purpose
This collection of reference guides is intended for Bank Account Administrators to create a bank, bank branch, and bank account.
Action
Terminology
· Routing Number: It's a nine-digit code that's used to identify financial organizations or banks when making a payment.
· Cash Clearing: It is the process of settling transactions between banks.
· Parse Rule: It is used to move data from one field to another.
Create a Bank
1. Login using Company Single Sign-On to access your Oracle account.
2. Select My Enterprise.
3. Select Setup and Maintenance.
4. Select the Setup: Customer Data Management dropdown.
5. Select Financials.
6. Search Manage Banks.
7. Select Manage Banks.
8. Select ‘+’ icon.
9. Add Country, Bank Name and Description.
10. Select Save and Close.
11. Select Done.
You have now completed the process of Creating a Bank.
Create a Bank Branch
1. Login using Company Single Sign-On to access your Oracle account.
2. Select My Enterprise.
3. Select Setup and Maintenance.
4. Select the Setup: Customer Data Management dropdown.
5. Select Financials.
6. Search Manage Bank Branches.
7. Select Manage Bank Branches.
8. Select ‘+’ icon.
9. Add Bank, Branch Name and Routing Number.
10. Select Save and Close.
11. Select Done.
You have now completed the process of Creating a Bank Branch.
Create a Bank Account
1. Login using Company Single Sign-On to access your Oracle account.
2. Select My Enterprise.
3. Select Setup and Maintenance.
4. Select the Setup: Customer Data Management dropdown.
5. Select Financials.
6. Search Manage Bank Accounts.
7. Select Manage Bank Accounts.
8. Select ‘+’ icon.
9. Add Bank Branch, Account Name, Account Number, Currency, Legal Entity Name, Account Type, Description, and Account Use, the other fields can be left blank. NOTE: Account Use should be selected only if the account is intended for use in Oracle Cloud Payables or Receivables subledgers.
10. Add Cash and Cash Clearing values.
11. Select the Active checkbox.
12. Select Controls tab.
13. Select Manual Reconciliation Tolerance Rule, Automatic Reconciliation Rule Set from the dropdown list under Reconciliation.
14. Select Parsing Rule Set under Bank Statement Processing and leave other control tab fields as blank.
15. Select Business Unit Access. This is required only if you selected a subledger Account Use on the General tab. The following step allows the specified Business Units to use the Bank Account for subledger activity (payments and/or receipts).
16. Select ‘+’ icon.
17. Select Business Unit, Cash, Cash Clearing, and, if applicable, Bank Charges.
18. Select OK.
19. Select Save and Close.
20. Select Done.
You have now completed the process of Creating a Bank Account.