Set Up Bank Accounts

You use bank accounts in the Business Central to keep track of your banking transactions. Accounts can be denominated in your local currency or in a foreign currency. After you have set up bank accounts, you can also use the check printing option.

To set up bank accounts

1. Choose the icon, enter Bank Accounts, and then choose the related link.
2. On the Bank Accounts page, choose the New action.
3. Fill in the fields as necessary. Hover over a field to read a short description.

Note

To fill in the Balance field with an opening balance, you must post a bank account ledger entry with the amount in question. You can do this by performing a bank account reconciliation. For more information, see Reconcile Bank Accounts. Alternatively, you can implement the opening balance as a part of general data creation in new companies by using the Migrate Business Data assisted setup guide. For more information, see Getting Ready for Doing Business.

To set up your bank account for import or export of bank files

Fields on the Transfer FastTab on the Bank Account Card page are related to import and export of bank feeds and files. For more information, see Using the AMC Banking 365 Fundamentals extension and Set Up the Envestnet Yodlee Bank Feeds Service.

1. Choose the icon, enter Bank Accounts, and then choose the related link.
2. Open the card for a bank account that you will export or import bank files for.
3. On the Transfer FastTab, fill in the fields as necessary. Hover over a field to read a short description.

Note

Different file export services and their formats require different setup values on the Bank Account Card page. You will be informed about wrong or missing setup values as you try to export the file. So read the short descriptions of the fields carefully or refer to the related procedure topics. For example, exporting a payment file for North American electronic funds transfer (EFT) requires that both the Last Remittance Advice No. field and the Transit No. field are filled in. For more information, see Export Payments to a Bank File.

To set up vendor bank accounts for export of bank files

Fields on the Transfer FastTab on the Vendor Bank Account Card page are related to export of bank feeds and files. For more information, see Using the AMC Banking 365 Fundamentals extension and Export Payments to a Bank File.

1. Choose the icon, enter Vendors, and then choose the related link.
2. Open the card for a vendor whose bank account you will export payment bank files to.
3. Choose the Bank Accounts action.
4. From the Vendor Bank Accounts List, choose the relevant bank account, or add a new bank account.
5. On the Vendor Bank Account Card page, on the Transfer FastTab, fill in the fields as necessary. Hover over a field to read a short description.

See Also

Setting Up Banking
Setting Up Posting Groups
Reconciling Bank Accounts
Working with Business Central

Note

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