Create Bank Account Master in Business Central:
(1) As per Microsoft, You use bank accounts in 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. The bank accounts include extra functionality for payment reconciliation, bank reconciliation, and the import and export of bank files. The bank accounts can also be included in transactions in the general journals. Each bank account is linked to an account in the chart of accounts through the assigned bank account posting group. Using a bank account in a payment transaction will automatically create an entry in both the bank account and the connected G/L account, as shown.
(2) Open Business Central, and type “Bank Account” in the search box, as shown.
(3) After selecting the Bank Account, the Bank Accounts list opens and press the “New” button, as shown.
(4) After doing the above step, enter the information as shown in the images with details.
- General Tab:
Field Name | Field Description | Importance |
---|---|---|
No. | Specifies the number of the involved entry or record, according to the specified number series. | Mandatory |
Name | Specifies the name of the bank where you have the bank account. | Mandatory |
Bank Branch No. | Specifies a number of the bank branch. | Mandatory |
Bank Account No. | Specifies a document number for the journal line. | Mandatory |
Balance | Specifies the bank account’s current balance denominated in the applicable foreign currency. | System Calculated field |
Blocked | Specifies that the related record is blocked from being posted in transactions, for example, a customer that is declared insolvent or an item that is placed in quarantine. | Business Requirement |
- Communication Tab:
Field Name | Field Description | Importance |
---|---|---|
Address | Specifies the address of the bank where you have the bank account. | Mandatory |
Address 2 | Specifies additional address information. | Optional |
Post Code | Specifies the postal code. | Mandatory |
City | Specifies the city of the bank where you have the bank account. | Mandatory |
Country/Region Code | Specifies the country/region of the address. | Mandatory |
Phone No. | Specifies the telephone number of the bank where you have the bank account. | Optional |
Mobile Phone No. | Specifies the mobile telephone number of the bank where you have the bank account. | Optional |
Contact | Specifies the name of the bank employee regularly contacted in connection with this bank account. | Optional |
Fax No. | Specifies the fax number of the bank where you have the bank account. | Optional |
Specifies the email address associated with the bank account. | Optional | |
Home Page | Specifies the bank website. | Optional |
- Posting Tab:
Field Name | Field Description | Importance |
---|---|---|
Currency Code | Specifies the relevant currency code for the bank account. | Optional |
Last Check No. | Specifies the check number of the last check issued from the bank account. | Optional |
Transit No. | Specifies a bank identification number of your own choice. | Optional |
Last Statement No. | Specifies the number of the last bank account statement that was reconciled with this bank account. | Optional |
Last Payment Statement No. | Specifies the last bank statement that was imported. | Optional |
Balance Last Statement | Specifies the balance amount of the last statement reconciliation on the bank account. | Optional |
Stale Cheque Stipulated Period | Specifies after how long the cheque can be marked stale for this bank account. | Optional |
Bank Acc. Posting Group | Specifies a code for the bank account posting group for the bank account. | Optional |
State Code | Specifies the state code of the bank. | Optional |
GST Registration Status | Specifies the GST Registration Status of the bank. | Optional |
GST Registration No. | Species the GST Registration number of the bank. | Optional |
- Transfer Tab:
Field Name | Field Description | Importance |
---|---|---|
Transit No. | Specifies a bank identification number of your own choice. | Mandatory |
SWIFT Code | Specifies the international bank identifier code (SWIFT) of the bank where you have the account. | Mandatory |
IBAN | Specifies the bank account’s international bank account number. | Mandatory |
Bank Statement Import Format | Specifies the format of the bank statement file that can be imported into this bank account. | Setup Base |
Payment Export Format | Specifies the format of the bank file that will be exported when you choose the Export Payments to File button in the Payment Journal window. | Setup Base |
(5) Note: Some fields may contain sensitive data, such as the Bank Branch No., Bank Account No., SWIFT Code, and IBAN Code fields. For more information, see Monitoring Sensitive Fields.