Configuration of banks and bank accounts

SAP Business One provides a comprehensive and flexible banking module. Here is a guide for how to set up your bank accounts.


Banks

Bank Registry can be found under [Administration -> Definition -> Banking -> Banks]. You can be very detailed and embed all the banks you and your customers / suppliers use - or you can simplify it and create a bank for each country you and your customers / suppliers have bank accounts. If you go with the latter you can add (for a Swedish bank):

Country Code "Sweden".
Bank code "DI".
Bank Name "Miscellaneous Sweden".

For a Danish bank:
Country Code "Denmark".
Bank code "DI".
Bank Name "Miscellaneous Denmark".


Bank accounts (own)

For the list of your own bank accounts, refer to the [Administration -> Setup -> Banking -> House Bank Accounts]. Here you enter information on different bank accounts you have in the bank. The main fields are:

  • Bank code - choose the correct bank which added to the "Banker" above. It is important that you choose a bank code of land bank account is located.
  • Account number - add the correct account number.
  • BIC / SWIFT - you should always add this to your own accounts. You get this information by your bank.
  • G/L Account - as a rule, everyone should own bank accounts have a separate ledger account that is set up with balance in the right currency. Read more about this in "G/L Account" below.
  • IBAN - you should always add this to your own accounts. You get this information by your bank.


G/L Account pr. Bank account

You should always have a separate ledger account pr. separate bank account. Receipts and payments to / from your bank account will be booked against this specific account. Important settings for these specific accounts are:

  • Currency - select the currency of your bank account. If this is a regular account in your country's currecy, select the currency or "All currencies". If this is a foreign currency account in euros select EUR here. Use only "All Currencies" in bank accounts in local currency.
  • Cash Account - tick this.


Bank accounts (business partners)

Bank accounts for the business partner (customers / suppliers) can be found under [Business Partners -> Business Partner Master Data -> Tab "Payment Terms"]. On the right side of the "Bank Country" is a button that leads to the list of business partner bank accounts. You can add customer / vendor bank accounts in the same way as you did with your own bank accounts over. The main fields are:

  • Bank code - choose the correct bank which added to the "Banker" above. It is important that you choose a bank code of the country customer's bank account is located.
  • Account number - add the correct account number. If the customer only has IBAN you can enter a dash "-" here.
  • BIC / SWIFT - you should always add this. You get this information by business partner.
  • IBAN - you should always add this. You get this information by business partner.

 

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