Bank and Bank Offsets

Overview

The Bank document is used to create and manage banks used to make deposits and disbursements and set up cash offsets in order to create bank offsets, or claim on cash. 

For additional information on setting up banks to be used in the Predisbursement Processor module, refer to PDP Disbursements, Bank Codes and Disbursement Number Ranges.

Bank Offsets

When enabled, documents that affect cash will create bank offset entries to the Cash Offset accounting string defined for the Bank. 

• ENABLE_BANK_SPECIFICATION_IND: When set to Y bank offset entries will be created for the following documents: 
  • Disbursement Vouchers(DV)
  • Noncheck Disbursement (ND)
  • Advance Deposit (AD)
  • Cash Management Document (CMD)
  • Payment Request (PREQ)
  • Credit Memo (CM)
  • Cash Control (CTRL)
• BANK_CODE_DOCUMENT_TYPES: If ENABLE_BANK_SPECIFICATION_IND is Y, document types in this parameter will display the bank code field and it can be edited by authorized users. 
• DEFAULT_BANK_BY_DOCUMENT_TYPE: Specifies the default bank for document types where the bank can be selected when the ENABLE_BANK_SPECIFICATION_IND parameter is set to Y, even if bank offsets will not be generated. This parameter must be populated for all document types listed above. NOTE: DV, PREQ and CM bank defaults can also be set in the Payment Method table, if a bank is set in this table, it takes precedence over this parameter. 

Bank

• Bank Code: An alphanumeric, unique identifying code. 

• Bank Routing Number: Enter or look up and return a valid routing number from the ACH Bank table. 
• Bank Name: Is populated based on the routing number selected above and can be edited. 
• Bank Account Number: The bank account number from which disbursements are to be drawn or deposits made. Once the bank has been created, the Bank Account Number will be masked to users who do not have permission to view or edit it. 
• Bank Account Description: The purpose of this bank account. For example, EFT ACH Disbursements. 
• The following codes are provided by the institutions bank and are used by Format Checks/ACH to create check.xml files and pdpExtractAchPaymentsJob to create the ach.xml files in the ISO20022 format.
  • Bank Identification Code: Required when the Bank Check flag is checked.
  • ACH Institution ID: Required when the Bank ACH flag is checked. 
  • ACH Institution Scheme Name: Required when the Bank ACH flag is checked. 
• Continuation Bank Code: The bank code to be used in place of an inactive bank code. This field should be set when a bank is inactivated. 
• Bank Deposit Indicator: Indicates that this bank will be used for deposits. Note that a bank may be used for both deposits and disbursements.
• Bank Disbursement Indicator: Indicates that this bank will be used for disbursements. Note that a bank can be used for both deposits and disbursements.
• Bank ACH Indicator: Indicates that this bank will be used for ACH disbursements in the PDP. Note that a bank can be used for both ACH deposits and checks.
• Bank Check Indicator: Indicates that this bank will be used for check disbursements in the PDP. Note that a bank can be used for both ACH deposits and checks.
• Cash Offset Chart of Accounts, Account Number, Sub-Account Number, Object Code and Sub-Object Code: If ENABLE_BANK_SPECIFICATION_IND = Y,  the accounting string to which bank  offsets will post when transactions are associated with this bank. 
• Active Indicator: If a bank is inactivated, the Continuation Bank should be completed so that if a disbursement is made on the old bank, the new bank will be used.