IMOS - Bank Links

 This is a Key Topic, with high value for all users.

Home > Financials > Bank Links

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 the Veson IMOS Platform. When there is an integration with an external Accounting System where payments are initiated, Bank Links should exist. This form binds the bank to a General Ledger number and also sets the bank currency.

Bank Links enable payments/receipt register in IMOS and the way they do this is by linking Bank Ledger account from Company's Chart of Accounts with a Bank. Therefore, every Bank account in Chart of Accounts must be linked to a Bank.

Setting Up Bank Links

Make sure of the following:

1. Setup A Bank in Chart of Accounts: The Chart of Accounts includes the Ledger Code and Account Name for the account where the cash transactions will be recorded, with Category Bank. This is the account where the cash transactions will be recorded.

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2. Setup Bank in Address Book: The Bank has an entry in Address Book of Type N (Banks) with the following information:

   1. Bank name

   2. Branch

   3. Currency, Account no. & Swift Code

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3. Add Bank to Company Entry in Address Book: Operating Company W card in Address Book, has Bank selected.

   • Currency

   • Account Number

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Linking a Bank

To link a bank:

1. On the Financials menu … > under Setup > click Bank Links.

2. Company Bank Links should have a line with your Company Name, Bank Name, Bank Account, and Currency.

3. Select the Ledger Code used in the Chart of Accounts for the bank.

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