Modifying the bank details

This page allows you to modify the details of the selected bank. You can modify details like the communication details of the bank and the bank clearing number. You can also modify the account information like the credit limit and the drawable limit of the account number.

This page also allows you to modify the bank codes and the finance books for which it has been defined. The system stores the login ID of the user and the system date along with the modified bank details.

Select the “Edit Bank” link at the bottom of the “Select Bank” page.

The “Edit Bank” page appears.

The system displays the following field:

Status	The status of the bank. It could be “Fresh” or “Active”.
	Active – indicates a bank account number that has been mapped to a bank code in the “Account Rule Definition” business component.
	Fresh – indicates a newly created bank account number

Note: Only the banks, which are “Active” status, can be modified.

Bank Reference

The number identifying the bank reference.

Modify the following fields if required:

Bank Name

The name of the bank (Alphanumeric, 100). Mandatory.

Modify the following fields in the group box if required:

Address

The complete mail address of the bank (Alphanumeric, 40). Mandatory.

Note: Atleast one row must be filled in. You can provide the mail address in all the empty rows provided.

City	The city in which the bank is located (Alphanumeric, 40).
State	The state in which the bank is located (Alphanumeric, 40).
Zip	The postal code of the city (Alphanumeric, 20).
Country	Use the drop-down list box to specify the country in which the bank is located. All the countries that have been defined in the “Organization Setup” business component will be available for selection in the ascending order.

The system displays the first country from the list by default.

Phone No.	The phone number of the bank along with the country code and area code (Alphanumeric, 20).
Fax	The fax number of the bank (Alphanumeric, 20).
Telex	The telex number of the bank (Alphanumeric, 20).
E-Mail	The electronic mail address of the bank (Alphanumeric, 60).
Mailstop	The mailstop number of the bank (Alphanumeric, 60).
Bank Clearing No.	A unique number allotted to a bank by the central bank of the country for carrying out inter-bank transactions at the clearing center. (Alphanumeric, 32).
Swift No.	A unique number, used while transacting with international banks (Alphanumeric, 20). This number will be necessary for file transfer of payments and receipts. The swift number must be unique across the login organization unit.
Bank Type	Use the drop-down list box to select the type of bank. All the bank types that have been defined in the “Quick Code Definition” business component will be available for selection. For example, you can select “Foreign Bank” and so on.
BSR No.	A unique seven digit code allotted by the Reserve Bank of India to a Bank branch in India. This code is available in the OLTAS (Online Tax Accounting System) or can be taken from the bank branch or fetched from the search facility at NSDL-TIN website. It is mandatory to quote BSR code both in tax deposit challan details and deductee details.

The system displays the following in the “Bank Account Information” group box:

Bank Account No.

The number identifying the bank account.

Modify the following fields if required:

Credit Limit	The maximum amount that the company can use for transactions from a bank account (Decimal). The value entered in this field must be greater than zero.
Drawable Limit	The amount till which the company can draw funds from the bank code (Decimal). The value entered in this field must be greater than zero.

Note: The sum total of the drawable limits of all the bank codes defined for a bank account number must not exceed the drawable limit set for the bank account number.

The drawable limit must not exceed the credit limit of the bank code.

Currency

Use the drop-down list box to select the transaction currency of the bank. All the currency codes that must be defined in the “Organization Setup” business component and that have been set as permitted currencies for the company will be available selection in the alphabetical order.

Note: If the base currency of the company is INR and the currency assigned to the bank account is also INR then you can post transactions in any currency including the INR. If the base currency of the company is INR and the currency assigned to the bank account is USD then you can post transactions only in USD.

IBAN	The code identifying the international bank identification number. (Alphanumeric, 12).
MICR Code	The unique MICR (Magnetic Ink Character Recognition) code which is used By RBI (Reserve bank Of India) clearing process to identify the branch and bank for clearing processes.

Enter the following details in the "Bank Book Details" multiline:

Bank Code

The code identifying the bank

Note: Creation of New Bank is allowed by way of Insertion.

Modify the following fields if required:

Description	The description of the bank code (Alphanumeric, 40). Mandatory.
Map to Finance Book	Use the drop-down list box to select the finance book to which the bank code must be mapped. All the finance books that have been created in the “Organization Setup” business component and that have been mapped to the login organization unit will be available for selection in the alphabetical order.

Note: The bank code and finance book mapping must be unique. You cannot modify the finance book if any transactions already exist for the bank code in the finance book.

Credit Limit	The amount unto which the company can use for the transactions in that account (Decimal). Credit limit is the maximum limit unto which the company can withdraw from the account. The limit must not be negative.
	If a company has an INR account and a USD account in the same bank, then separate credit limit will be specified for each account.
Drawable Limit	The amount unto which the company can draw funds from the bank (Decimal).

Note: The sum of all the credit limit in the multiline must not exceed the credit limit set for the bank account in the header.

The sum of all the drawable limit in the multiline must not exceed the drawable limit set for the bank account in the header.

Drawable limit must not exceed credit limit and should not be negative.

Over Draft Amount	The amount overdrawn from the bank account number (Decimal). This amount must not exceed the credit limit set for the bank account.
Minimum Balance	The minimum amount which should be kept at any point of time for the bank code (Decimal). The value entered in this field must be greater than zero.

Note : Both Credit Limit and Minimum balance cannot be given for the bank code

Minimum Targeted Balance	Minimum Targeted balance to be maintained on a periodical basis for the bank code.
Effective Date For Interest Rate	The date from which the interest rate for debit and the credit balance is effective (Date Format).
Interest Rate for Overdraft Balance	The interest rate charged on the overdraft amount (Decimal). The value entered in this field must not exceed “100”.
Interest Rate for Dr Balance	The interest rate on the debit balance held by the company in its bank account (Decimal). Interest rate is charged if the debit amount exceeds the credit limit. The rate entered in this field must not exceed “100”.
Interest Rate for Cr Balance	The interest rate on the credit balance held by the company in its bank account (Decimal). Interest rate is charged if the credit amount exceeds the credit limit. The rate entered in this field must not exceed “100”.

Check the box in the “Select” column of the multiline to mark a bank code for setting the transactions for which it can be used.
Click the “Edit Bank” pushbutton to save the modifications made.

The system saves the modifications made to the bank details.

The system displays the following:

Created By	The login ID of the user who created the bank.
Created Date	The date on which the bank is created.
Last Modified By	The login ID of the user who modified the bank details last.
Last Modified Date	The date on which the bank details were last modified.

To proceed, carry out the following

Select the “Edit Bank Contact Details” link at the bottom of the page to modify the bank contact details.
Select the “Edit File Transfer Details” link at the bottom of the page to modify the file transfer details.
Select the “Bank Usage Information” link at the bottom of the page to modify the bank usage information.
Select the “Specify Additional Bank Limits” link at the bottom of the page to modify the Additional Bank Limit details.
Select the “Specify Bank Guarantee Details” link at the bottom of the page to specify the Guarantee Limits details
Select the “Attach Notes” link at the bottom of the page to attach notes.
Select the “View Bank” link at the bottom of the page to view the bank details.