11.01. Bank Accounts

Bank Accounts

Banks are used to track payments and receipts registered in SocrateCloud that were made through a bank account (e.g. credit card payments, cheques). The Bank window, located in the Open Items -> Treasury Setup menu, is used to define banks in SocrateCloud. The following fields are available:

• Name, Description

  • Address - physical location for the bank;

  • Routing No - number used for cheque routing or electronic transactions;

  • Own Bank - indicates the fact that the bank is used by the organization (and not by business partners);

  • Swift Code (Society of Worldwide Interbank Financial Telecommunications) - international bank identifier;

  • BNR code (BIC - Bank Identifier Code) - unique bank identifier code;

• Bank Verification Class (not implemented) - Java Class used for verifying bank statements in SocrateCloud;

Accounts

The Account tab is used to define the accounts for a bank. For each bank multiple accounts can be defined. The following fields are available:

• Account No, Description

• Bank - reference to the bank;

• BBAN (Basic bank Account Number) - used for internal bank transfers. Details: ISO 13616 and http://www.ecbs.org;

• IBAN - international bank account number. Details: ISO 13616 and http://www.ecbs.org;

  • Default - if checked, this account will be used by default by SocrateCloud processes involving it's bank;

• Currency - currency used for this bank account;

  • Bank Account Type - the account type: checking, savings credit or other;

  • Credit Limit - displays the credit limit for the bank account. No open item transaction that would increase the credit above the limit can be processed;

  • Current Balance - displays the current credit value for the account;

Online Banking section:

• • Payment Export Type - indicates the file type used for MT100 exports;

    • BCR Plata Domestica (.ROI)

    • BCR Plata In Valuta (.INT)

    • BRD Plata Domestica (.ROI)

    • General CSV File - only used for generic exports;

    • ING Plata Domestica / In Valuta (.TXT)

    • Piraues Plata Domestica (.CSV)

    • Piraues Plata In Valuta (.CSV)

    • RBS Plata Domestica (.ROI)

    • RBS Plata In Valuta (.INT)

    • UniCredit Plata Domestica (.CSV)

    • UniCredit Plata In Valuta (.CSV)

    • Unicredit EUR (.XML) - starting with v17.02;

    • Volksbank Plata Domestica (.ROI)

    • Volksbank Plata In Valuta (.INT)

  • details in Payment Approval;

Statement Loader

The Statement Loader tab is used to define rules based on which bank statements are loaded into SocrateCloud. The records defined here care used by the Load Bank Statement MT940/CSV process. Any record can be used, regardless of the bank or account for which is defined. The following fields are avialable:

• Statement Loader Class - class provided by BIT Software based that will be used to process the import file;

  • • ING - org.bitsoftware.sobk.impexp.SO_INGFileBankStatementLoader

      • supported files types: MT940, CSV*

    • BRD - org.bitsoftware.sobk.impexp.SO_BRDFileBankStatementLoader

      • supported files types: MT940

    • Unicredit - org.bitsoftware.sobk.impexp.SO_UCTFileBankStatementLoader

      • supported files types: CSV, MT940*

    • RBS - org.bitsoftware.sobk.impexp.SO_RBSFileBankStatementLoader

      • supported files types: MT940

    • Volksbank - org.bitsoftware.sobk.impexp.SO_VKBFileBankStatementLoader

      • supported files types: MT940

    • BCR - org.bitsoftware.sobk.impexp.SO_BCRFileBankStatementLoader

      • supported files types: MT940

    • Piraeus - org.bitsoftware.sobk.impexp.SOBK_PiraeusFileBankStatementLoader

      • supported files types: XML

Details in Open Item Processes.

Bank Account Documents

The Bank Account Document tab is used to define the documents used for operations with this bank account. There the document type, sequence and print format is defined. Only accounts for which bank account documents were defined can be used for payment exports through the online banking system. The following fields are available:

• Name, Description

• Bank Account - reference to the bank account;

• Payment Method - determines the document type used for payments when using this bank account;

• Current Next (system maintained) - the number that will be used for the next bank account document;

  • Check print Format - if the payment method used is "Check", a print format needs to be defined;

Payment Processor

The Payment Processor tab is used to define the parameters used for online payments. This functionality is not available for some banking systems. The following fields are available:

• Name, Description

• Bank Account - reference to the bank account;

• Host - address used to identify the URL;

  • Host Port - port used to access the payment processor;

  • Partner ID, Vendor ID - business partner or vendor for which the payment is entered;

  • User ID. Password - used to identify the user and determine the access rights to records and processes;

  • Proxy Address - must be defined if accessing the payment processor is done through a firewall;

  • Proxy Port - proxy server port;

  • Proxy Logon, Password - login and password used to connect to the proxy server;

Check the corresponding boxes to indicate what types of credit cards an and payment methods are accepted by the payment processor (MasterCard, Visa, American Express, ATM, etc.):

• Minimum Amt - minimum amount for an electronic payment accepted by the processor;

• Only Currency - only the selected currency will be accepted. If no currency is selected, all currencies will be accepted provided that an exchange rate is available;

• Sequence - numbering sequence used for bank account documents;

• Require CreditCard Verification Code - check to indicate that this bank account requires a validation code for transactions (the last 3 or 4 digits on the back of the card)

• Payment Processor Class - JAVA class used for processing payments;

• Commission % - the percent commission which must be paid for processing the payment

• Cost per transaction - fixed cost per transaction. Has no effect within the system, and is used as a reference value;

Accounting

The Accounting tab is used to define accounting information for the bank account:

• Bank Asset represents the bank's active account used for the accounting transfer;

• Bank In Transit is used to register the cash that is due to enter the account (payments that have yet to be associated to a bank statement);

• Bank Unidentified Receipts is used for is used for Check receivables;

• Check Payments is used for Check payments;

• Unallocated Cash is used to register the receivable invoices that have not been allocated to the bank statement;

• Payment Selection is used to register the issued invoices that have not been allocated to the bank statement;

• Bank Expense is not currently used;

  • Bank Interest Expense is used to register the interest expenses;

  • Bank Interest Revenue is used to register the interest revenue;

  • Bank Revaluation Gain is used to register the positive foreign exchange differences. Not currently used;

  • Bank Revaluation Loss is used to register the negative foreign exchange differences. Not currently used;

  • Bank Settlement Gain is used to register the positive foreign exchange differences, if the currencies on the payment document and invoice are different. Not currently used;

  • Bank Settlement Loss is used to register the negative foreign exchange differences, if the currencies on the payment document and invoice are different. Not currently used;

Bank Statement Matcher

The bank statement matching process is used to automatically match payment or receipts to bank account lines. Payments and receipts should be registered within the system before the bank statement if the following situations:

• payments - the payment approval functionality has been used followed by an export to on-line banking;

• receipts - a direct debit receipt system has been used and the corresponding file has been sent to the bank (not yet implemented)

The bank statement matching process can be run from:

• the Bank Statement window from a drafted bank statement. The process will be run for all the bank statement lines;

• the Statement Line tab - the process will be run for a specific bank statement line;

• the Import Bank Statement window - for the imported data, in order to determine the corresponding payments before importing the bank statement;

Details in Bank Statement.

The Bank Statement Matcher, located in the Open Items -> Treasury Setup menu, is used to make the necessary setting used by the bank statement matching process. Each record in this window represents a matching algorithm. Multiple algorithms can exist simultaneously, each being called by the matching process according to their sequence.

The algorithm will look for payments not yet matched, of same value, bank account, business partner as the bank statement line. If multiple payments are found, the oldest record will be used. The payment will be then matched to the bank statement line.

To activate the default algorithm, in the bank Statement Matcher, define a new record and in the Classname field, enter the following java class:

"org.socrateopen.impexp.BankStatementMatchHandler"