Bank
You must set up at least one bank and, in some cases, you will want to set up more than one. For example, you may want to deposit account payments received at the main office in a bank in that area, while payments at a remote office may go to a different bank.
To set up banks:
In character Circulation, select Bank from the General Ledger menu to display the Bank Setup screen.
Select Add and complete the following fields.
Field Type What to enter BANK
open (8)
Enter the bank name, such as “Fidelity”.
DESCRIPTION
open (30)
Enter a description of this bank.
CASH IN BANK GL ACCOUNT
setup
Enter the “Cash in Bank“ GL account number to which deposits should be made. The GL account you enter must have been previously defined in Chart of Accounts. See Chart of Accounts for details.
REFUND BANK GL ACCOUNT
setup
Enter the “Refund Bank“ GL account number from which bank draft refunds should be made. The GL account you enter must have been previously defined in Chart of Accounts. See Chart of Accounts for details.
HOLDING GL ACCOUNT
setup
Subscriber Payment Processing will post all unresolved payments where the subscriber is not known (those with a subscription ID of zero) to this GL account, when the payment date is equal to or older than the processing date. If no holding GL account is defined, a warning will be generated, and the payment will be posted to a blank GL account. If the subscription ID is known, the holding account defined in Payment Holding Acct (see Payment Holding Acct) will be used instead. Once a payment is resolved, a reverse GL entry will be posted to the holding account.
COMPANY
setup (4)
Enter the ID for the company that uses this bank.
CLIENT NUMBER
open (10)
Enter this company’s account number with this bank.
ELECTRONIC FILE FORMAT
open (8)
Indicate the format used by the bank for automatic deposits, withdrawals, transfers, etc. The valid options are ACH (Automated Clearing House, used by most US banks), CIBC (Canadian Imperial Bank of Commerce), RBC (Royal Bank of Canada), and BOF (Bank of Finland). If none of these formats are used, enter “ACH”.
AUTOMATED CLEARING HOUSE
open (9)
If Electronic File Format is set to “ACH”, enter the automated clearing house identifier for this bank.
ACH/RBC SFT HEADER DATA
open (40)
If the electronic file format is “ACH” or “RBC”, you may need to send header data in the file. The header information can be entered in this field. If header data is specified, it will be exported as the first record in the ACH or RBC file (before the File Header record); if no header data is entered, this record will not be exported.
ORIGINATING DFI
open (8)
If the electronic file format is “ACH”, enter the originating DFI number for bank draft payments and refunds.
IMMEDIATE ORIGIN
open (10)
If the electronic file format is “ACH”, enter the immediate origin number for bank draft payments and refunds.
BANK NUMBER
open (4)
If the electronic file format is “BACS” or “CIBC”, enter the newspaper’s bank number.
BANK BRANCH NUMBER
open (5)
If the electronic file format is “CIBC”, enter the newspaper’s branch number.
BANK ACCOUNT NUMBER
open (12)
If the electronic file format is “BACS” or “CIBC”, enter the newspaper’s account number at the bank.
RECEIVING DATA CENTER
open (5)
If the electronic file format is “CIBC”, enter the ID of the data center that will be receiving the file. For example, 01000 = Vancouver, 01010 = Montreal, 01020 = Toronto, 01070 = Winnipeg and 01090 = Calgary.
REQUESTER ID
open (16)
The requester ID is used for processing Intell-A-Check one-time subscription checks by phone.
Optionally, select Specifics | Bank Validation to establish validation rules for the bank, based on the product and payment type entered. See Specifics, Bank Validation.
Select Accept to enter the bank information into the database.
Set up more banks, or press F4 and select Exit to exit to the Setup menu.
Specifics, Bank Validation
Use this option to establish rules for validating and defaulting a bank based on the product and payment type entered by the user. These validation rules apply to auto-renew billing, subscriber lockbox processing, and the Subscriber Activity Import.
For example, if Bank One is valid only for the product of “DM”, users will not be able to select it for other products (i.e., it will not appear in the F2 lookup and cannot be entered). Additionally, if Bank One is valid only for bank draft payments, both the product of “DM” and the payment type of “bank draft” must be selected before Bank One can be selected as the bank.
Note: If you are going to use this Specifics option for one bank, then you must use it for all banks (or else the banks that do not have this setup will not be accessible in Customer Service). Conversely, if this option is not used for any banks, then all banks will be accessible.
If an invalid bank is encountered while processing lockbox payments or the Subscriber Activity Import, the payment will be rejected and a message sent to the log file. Note that field security can also be placed on the BANK ID field to allow only certain users to enter specific bank IDs. See Field Security for more information.
To set up bank validation rules:
Select Bank Validation from the Specifics menu. The Bank Validation Setup screen appears.
Select Add and complete the following fields.
Field Type What to enter BANK
display
The Bank ID is displayed.
PRODUCT
setup
Select a specific product or enter “*” for all products. Defaulting will happen only if one product is selected.
PAYMENT TYPE
predefined
Enter cash, check, credit card, bank draft, or “*” for all payment types.
PRIMARY
setup
Enter “y” if this bank should be defaulted for this product and payment type. For example, if you enter a specific product and payment type (i.e., not “*”) and this field is set to “y”, the Bank will default for the user. If this field is set to “n”, the user will be required to select a valid bank.
Select Accept to enter the bank validation information into the database.
Set up more validation rules, or press F4 and select Exit to return to the Bank Setup screen.
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