AMC Banking 365 BC - Receivers bank account
Amcbanking
To make outgoing payments to vendors, some basic setup is required on both the vendor and the vendor bank account.
This document explains what needs to be configured and how to set up a vendor and vendor bank account for outgoing payments.
The same procedure applies when setting up customers or employees for outgoing payments.
However, the fields and setup options for customers and employees may differ slightly from those used for vendors.
Vendor and Vendor bank account
1. Vendor
In this section, only the fields used or involved by AMC Banking are described.
Not all fields from the Vendor Card are included here — for details on the remaining fields, please refer to the Microsoft Learn documentation.
1.1 Vendor card page
Name
Specifies the vendor's name. Used in the Payment information/Payment advice to the bank.
Address
Specifies the vendor's street address. Used in the Payment information/Payment advice to the bank.
Post code
Specifies the vendor's Postal Code of the city. Used in the Payment information/Payment advice to the bank.
City
Specifies the vendor's city. Used in the Payment information/Payment advice to the bank.
State
Specifies the vendor's state, if any. Used in the Payment information/Payment advice to the bank.
Country/Region
Specifies the vendor's country. Used in the Payment information/Payment advice to the bank.
Currency Code
Specifies the currency code that is inserted by default when you create purchase documents or journal lines for the vendor.
Payment method code
Specifies the payment methode code that is inserted by default when you create purchase documents or journal lines for the vendor.
Preferred Bank Account Code
Specifies the vendor bank account that will be used by default on payment journal lines for export to a bank, if Bank account code is not stated on the Vendor ledger entries during posting of purchase documents.
Creditor No.
Specifies the creditor number used for specific reference payment types, such as FIK payments in Denmark, Giro payments in Sweden, and similar formats in other countries.
Ribbon on vendor card page (Action Bar)
Vendor > Payment Account Finding (AMC)
Edit/Create Payment account finding for this vendor to be used with AMC Banking
when running the Suggest Vendor Payments process in the Payment Journal.
2. Vendor Bank Account card page
In this section, only the fields used or involved by AMC Banking are described.Not all fields from the Vendor Bank Account Card are included here — for details on the remaining fields, please refer to the Microsoft Learn documentation.
Name
Specifies the name of the bank where the vendor has this bank account.
Used in the Payment information/Payment advice to the bank.
Address
Specifies the street address of the bank where the vendor has this bank account.
Used in the Payment information/Payment advice to the bank.
Post code
Specifies the Postal Code of the city of the bank where the vendor has this bank account
Used in the Payment information/Payment advice to the bank.
City
Specifies the city. of the bank where the vendor has this bank account
Used in the Payment information/Payment advice to the bank.
State
Specifies the state. of the bank where the vendor has this bank account.
Used in the Payment information/Payment advice to the bank.
Country/Region
Specifies the country/region of the bank where the vendor has this bank account.
Used in the Payment information/Payment advice to the bank.
Currency Code
Specifies the currency code of the vendor bank account.
Used for payment account identification when running the Suggest Vendor Payments function in the Payment Journal.
IBAN or Bank Account No.
Either the IBAN or the Bank Account No. is used when running the Suggest Vendor Payments function in the Payment Journal.
The system prioritizes the IBAN if it is provided; otherwise, it uses the Bank Account No..
SWIFT Code
For some payment types, banks require that a SWIFT code must be included in the payment information.
Bank Clearing Standard
For some payment types, banks require that a Bank Clearing Standard code must be included in the payment information.
Bank Clearing Code
Specifies the code for bank clearing that is required according to the format standard you selected in the Bank Clearing Standard field. This values is often combined with the Bank acount No. as it is required by some banks.
Cost distribution
For some payment types, the bank may charge transaction fees.
Using the Cost Distribution setting, you can specify how these costs are divided between the beneficiary and the payer.
The available options are:
Shared – The cost is shared between both parties.
Payer pays all – The payer covers all transaction costs.
Beneficiary pays all – The beneficiary covers all transaction costs.
Message to own bank
Specifies a message to your own bank to be included in the payment information
for this vendor bank account.
Be aware that some banks may charge an additional fee for including this message, as they may interpret it as an extra instruction related to the payment.
Intermediaty Agent
Intermediary Agent to transfer the payment through, before the recipient receives the payments.
Advice
Specifies the advice code used to generate an advice text during the payment suggestion process. (See AMC Banking 365 BC - Payment advice)
National Bank code
For some payment types, banks require that a National Bank code is used for International payments.
National Bank description
For some payment types, banks require that a National Bank description is used for International payments.
SEC code (NA)
This field is only used for doing ACH payments, primarily in America (NA).
The field “SEC code” defines the type of ACH entries contained in the payment batch.
There are two options:
PPD (Prearranged payments and deposits) For consumer transactions destined to an individual.
CCD (Cash concentration or disbursement) For corporate transactions
Transaction code (NA)
This field is only used for doing ACH payments, primarily in America (NA).
The field "Transaction code” identifies the type of entry.
There are two opportunities:
22 (Credit to checking account)
32 (Credit to savings account)
Ribbon on vendor bank Accunt (Action Bar)
Vendor > Payment account finding (AMC)
Edit/Create Payment account finding for this vendor to be used with AMC Banking