Bank Accounts

User Role(s) Required: Administration

On the main menu, click Administration > Bank Accounts.

Bank accounts are managed by the buyer and are the accounts from which the buyer can optionally fund the Maturing Bank Accounts (the Maturing Bank Accounts are the buyer owned bank accounts from which Payment Obligations are paid.  They are managed in the community module). These bank accounts are also associated with Suppliers - therefore a Buyer may have more than one bank account but never more than one account per Supplier. The bank account entered here allows the buyer to set an account to fund their maturing bank accounts.  Most buyers opt to use only the Maturing Bank Accounts, and therefore opt to set up a dummy account here.

From this page, you can perform the following activities:

To add a Bank Account:

  1. On the Bank Accounts page, click New Account. The Add Bank Account page opens.

  1. Enter the required data (fields with red asterisks following the label are required). Once the country is selected, the applicable fields for that country’s bank account setup are displayed. 
  2. To complete the action, click Save or to cancel all selections, click Cancel.
  3. While an account is in a status of Pending, all information on the page can be edited.

The account is not activated immediately after it is added. You need to send the necessary documentation to the Service Provider in order to have the account activated.

To change the default bank account, complete the following steps:

  1. On the Bank Accounts page, click the Default radio button associated with the bank account you wish to have as the default account. A prompt is displayed.

  1. Click OK. The page will refresh and the newly selected account will have the radio button next to it checked.

To view a Bank Account:

  1. On the Bank Accounts page, click the Working Name link. The View Bank Account page opens.

To edit a Bank Account:

  1. Click the Edit button on the View Bank Account page. The Edit Bank Account Page opens.

  1. Make the necessary changes.
  2. To complete the action, click Save or to cancel all selections, click Cancel.

Many fields, including the Routing Number, Account Number, and Currency may not be edited after an account has been activated.

To reactivate a bank account, you must contact the service provider.

To deactivate a bank account:

  1. On the Bank Account page, click the check box next to the bank account you wish to deactivate.
  2. Click Deactivate Selected. The account is now Inactive.