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This is a Key Topic, with high value for all users.
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Set up a Bank Link for each bank that is debited or credited for a payment to your company, but only if you are recording payments in IMOS. This form binds the bank to a General Ledger number and also sets the bank currency.
In the Chart of Accounts, each account that has Bank in the Category column must be linked to a bank.
Setting Up Bank Links
Make sure of the following:
- The Chart of Accounts includes the Ledger Code and Account Name for the account where the cash transactions will be recorded, with Category Bank.
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- The internal company Address Book entry (Type W, Company Info) has the bank selected on a line of the Bank Links tab, with the following information:
- Bank Name
- Branch
- Currency
- Account Number
Linking a Bank
To link a bank:
In the Financials module center
, under Setup, click Bank Links.
Company Bank Links should have a line with your Company Name, Bank Name, Bank Account, and Currency.Select the Ledger Code used in the Chart of Accounts for the bank.