Set up vendor bank accounts

  • 7 minutes

In Business Central, a vendor can have one or multiple bank accounts. On the vendor bank account card, you can enter the information you need to process payments to the vendor through the export of bank feeds and files.

Create a vendor bank account

To create a vendor bank account, you must first select the vendor for whom you want to create a bank account. It isn't possible to access the list of vendor bank accounts through the search function.

To create a vendor bank account for vendor 10000, follow these steps:

  1. Select the Search for Page icon in the top-right corner of the page, enter vendors, and select the related link.

  2. Select vendor 10000, and select Vendor, and then Bank Accounts.

  3. Select New.

  4. In the Code and Name field, enter the code and a name for the bank.

  5. On the General FastTab, enter the bank account’s address details.

  6. In the Currency Code field, enter the bank account’s currency. Leave the field blank if the bank account uses your local currency.

  7. In the Bank Code field, enter the bank code for the vendor bank account.

  8. In the Bank Branch No. field, specify the branch number.

  9. In the Bank Account No. field, enter the number for the vendor bank account.

  10. In the Transit No. field, enter a bank identification number.

  11. On the Communication FastTab, enter the communication details, like the email and home page.

  12. Expand the Transfer FastTab.

  13. In the SWIFT Code field, enter the SWIFT code (international bank identifier code) of the bank where the vendor has the account.

  14. In the IBAN field, enter the bank account's international bank account number.

  15. In the Bank Clearing Standard field, select the format standard to be used in bank transfers if you use the Bank Clearing Code field to identify you as the sender.

  16. In the Bank Clearing Code field, enter the code for bank clearing that is required according to the format standard you selected in the Bank Clearing Standard field.

  17. Select the Use for Electronic Payments field if this vendor bank account is the one that is used for electronic payments.

When you must change the IBAN number on a vendor bank account card, you can still track payments to the old IBAN number. Credit transfer register entries store the recipient IBAN and recipient bank account number that was specified on the vendor bank account card when the entries are created.

Screenshot of the Credit Transfer Reg. Entries window.

Set up the preferred vendor bank account

When you enter a vendor in a payment journal, the vendor’s preferred bank account is suggested on the payment journal line.

To set up the preferred bank account for a vendor, follow these steps:

  1. Select the Search for Page icon in the top-right corner of the page, enter vendors, and select the related link.

  2. Open the vendor card and expand the Payments FastTab.

  3. In the Preferred Bank Account Code field, select a bank account. This is the vendor bank account that is used by default on payment journal lines for export to a payment bank file.