Bank Account Record

1

Account Owner

The legal entity that owns the bank account.

2

Bank

The name of the Bank connected to this Bank Account. This field is not required and is only necessary if you intend to export ACH or Positive Pay from this Bank Account. Learn more about the Bank Record.

This field is required when the Bank Account will be used for R365 Payments. Learn more about R365 Payments.

3

Account Type

The Bank Account type. Options include:

• Checking

• Credit Card

• ZBA (Zero Balance Account)

• Saving

4

Bank Account Number

The Account Number of the Bank Account. Click here for more information on Canadian Account Number Formatting.

This field is required when the Bank Account will be used for R365 Payments. Learn more about R365 Payments.

5

Routing Number

The Routing Number (USA) / Transit Number (CANADA) of the Bank Account.

View examples of each Check Format.

Learn more about Canadian Transit Number Formatting.

This field is required when the Bank Account will be used for R365 Payments. Learn about R365 Payments.

6

Bank User Name

This is a deprecated feature and is no longer used with the release of Direct Bank Connections.

7

Bank ICD

The Bank ICD value for this Bank Account. This value must be set when using the 'ACH Export - TD Bank' report (set on the Bank record). It specifies the ANSI One-digit Identification Code Designators (ICD) for the Bank, and correctly sets the value on ACH Exports.

8

Positive Pay Bank ID

The Positive Pay ID number provided by the Bank Account when Positive Pay is set up. This entry is read-only and auto-populates when the bank account connects with R365.

9

ACH Immediate Origin

Some banks require a unique company identifier instead of a Tax ID, such as a customer number. This field enables users to enter the bank’s specific identifier in R365, ensuring the generated ACH file includes the correct information for accurate processing.

The ACH immediate origin allows for alphanumeric values and is limited to 10 characters.

Best Practice
If the bank requires a leading character in front of the legal entity’s Tax ID enter that leading character and Tax ID in this field.

• Example:
  Leading Character: A

  Tax ID: 111111111
  ACH Immediate Origin: A111111111

When left blank, the ACH export will default to using the Tax ID set on the Legal Entity record associated with the Payment Run. If the Company Identifier differs from the Bank’s Immediate Origin, use this field. For guidance on the correct entry, consult the bank directly.

10

ACH Company ID

Some banks require a unique company identifier instead of a Tax ID, such as a customer number. This field enables users to enter the bank’s specific identifier in R365, ensuring the generated ACH file includes the correct information for accurate processing.

The ACH company ID allows for alphanumeric values and is limited to 10 characters.

Best Practice
If the bank requires a leading character in front of the legal entity’s Tax ID enter that leading character and Tax ID in this field.

• Example:
  Leading Character: A

  Tax ID: 111111111
  ACH Company ID: A111111111

When left blank, the ACH export will default to using the Tax ID set on the Legal Entity record associated with the Payment Run. If the Company Identifier differs from the Bank’s ACH Company ID, use this field. For guidance on the correct entry, consult the bank directly.

11

ACH Company Name

The company name required by the bank when transmitting an ACH file. If this fields is left blank, the associated legal entity name in the payment run will be used in the ACH export.

This field accepts alphanumeric characters only and cannot exceed 16 characters.

For guidance on the correct entry, consult the bank directly.

12

Manage Bank Connections button

Opens a new window where the user can add, edit, or remove the online bank connection.

13

Default Location

The Default Location that will use this Bank Account within the Legal Entity selected in #1. This field will help drive the intercompany accounts when money is transferred to Cash Accounts controlled by other Legal Entities.

14

Exclude from Payments

Check this box if this Account is for Deposits only. When checked, this Bank Account will not appear as an option on the Check Run and Manual Payment screens.

15

Bank Name (on Check)

The Name of the Bank that will appear on the printed check.

16

Check Format

The Check format for this Bank Account.

Options include:

• United States

  • Learn more about Setting Up American Checks.

• Canada

  • Learn more about Setting Up Canadian Checks.

17

Next Check Number

The next available check number. This will be used when printing physical checks from this Bank Account and will display in the MICR line on the check. This value will also automatically increment each time a check is printed from R365.

The next check number will not be used for payments processed through the R365 Payment service.

The next check number will be used on payments created through the pay bill function, manual payments, and bank expenses/withdrawals.

18

Select Signature

Opens the Upload Signature prompt where the user can upload a signature file that will print on physical checks when 'Print Check with Signature' is selected. Learn more about Check Signatures.

To Print Checks with Signature, a User must first have the following Permissions:

• Accounts Payable → AP Payments → Print Checks w/Signature

• Accounts Payable → Payment Runs → Print Checks w/Signature in Payment Runs

19

Select Second Signature

Allows users to store a second signature in the bank account record.

This signature will not print on checks.

20

Print Second Signature Line

Selecting this checkbox enables a second signature line on checks from this bank account. When selected, a 'Threshold' field appears, allowing a dollar amount to be set that requires a second signature. When using ‘Print Check with Signature’, the primary signature prints on the first line (using the uploaded signature image #18),  while the second signature line remains blank for manual signing. Refer to the examples below for scenarios requiring a second signature.

• Checks greater than $0.00 (all Checks) require a second signature. Check the 'Print Second Signature Line' checkbox and enter '0' in the 'Threshold' field

• Checks equaling $5,000 and above require a second signature. Check the 'Print Second Signature Line' checkbox and enter '5000' in the 'Threshold' field

21

Last Reconciled Date

Displays the last bank reconciliation date for the account.

22

Last Reconciled Balance

The balance of the account as of the last bank reconciliation.

23

Last Bank Activity Upload Date

The date of the last upload to the bank activity screen for this bank account.

24

Last Bank Activity End Date

This field is not required and was previously used in conjunction with Bank Activity. It is no longer used and serves only as a reference.

25

Legal Entities

Displays a count of the number of legal entities with access to the account based on the assigned locations.

26

Locations

Displays a count of the number of locations with access to the account.

27

Status

The setup status for R365 Payments. This reflects the status on the 'Payments' tab of System Preferences.

Statuses include:

• Pending Account Setup - This represents the need for the User to complete the required fields for one or more Vendors and/or Bank Accounts. Additionally, the User will need to add Payment Users on the 'Payments' tab of System Preferences. Learn more about adding/removing vendors from use with R365 Payments.

  Learn more about adding or removing bank accounts from use with R365 Payments.

• Pending Account Verification - This shows that all required fields for the 'Pending Account Setup' status are complete and ready to be verified.

• Enabled - This shows that all required fields have been verified and payments are ready to be sent.

28

Exclude from R365 Payments

This checkbox will only appear when R365 Payments is enabled for your organization. When checked, this will exclude this Bank Account from R365 Payments. Doing so will also remove the requirement to complete additional fields for R365 Payments.