Set up the bank account records of each vendor to whom you will send electronic bank payments. You can set up multiple bank accounts for each vendor.
Setting up vendor bank details in the United Kingdom:
Go to Lists > Relationships > Vendors.
For information about adding a vendor, see Creating a Vendor Record.
Click the Edit link next to the name of the vendor.
On the Bank Payment Details subtab, check the EFT Bill Payment box and click Save.
Click New Bank Details.
Complete the fields on the Bank Details page. The fields displayed are dependent on the EFT format selected.
Field
Description
Name
Enter a unique name for this bank detail record.
Payment File Format
Select SEPA Credit Transfer (HSBC) or BACS if the vendor’s bank uses the original variation of the BACS payment file format specification of BACS Payment Schemes Limited.
Select BACS-Albany ALBACS-IP if the vendor’s bank uses the variation of the BACS payment file format specification of Albany ePAY Bureau, Barclays Bank, and (BACS Multiple Fixed Length) Lloyds Bank.
Select BACS-Bank of Scotland if the vendor’s bank is a branch of Bank of Scotland PLC (BoS). BoS uses a variation of the BACS format where the file headers and footers are omitted.
Select BACSTEL-IP if the vendor’s bank uses the internet service variation of BACS.
Type
Select whether the bank account is the vendor’s primary or secondary bank account.
Sort Code
Enter the 6-digit numeric sort code of the vendor’s bank. The code is used by the British banking industry to route money transfers within the country using different respective clearance organizations.
Account Number
Enter the vendor’s 8-digit bank account number.
Account Name
Enter the vendor’s bank account name.
Click Save.