Bank Codes Setup

Bank codes represent the bank accounts that you use when you enter cash-related transactions (cash receipts, cash disbursements, accounts payable payments, and so on) in Deltek.

Bank codes direct the implicit posting of any cash-related transaction. This means that Deltek automatically uses the default general ledger account that you enter for a bank (such as 101, Checking) during data entry for cash-related transactions. Bank codes eliminate the need to manually enter the general ledger account during data entry processing.

In Banks Settings, you can also set up the following information for your bank accounts:

• Bank entries for miscellaneous fees and bank charges

• Settings for the import file when importing bank transactions into Deltek

• Direct Deposit and NACHA (National Automated Clearing House Association) electronic funds transfer information

• Export to Text File format information, including user-defined and SEPA (Single Euro Payments Area) file formatting

• Wire transfer fee information

If you use Organization Reporting, your enterprise has multiple organizations, and each organization has one or more accounts at one or more banks, you can set up a bank code for each account, at each bank, for each organization. You can use the same account for each organization bank code. If you maintain separate balance sheets for your organizations, Deltek displays the account totals for each.

The Bank Code List shows all the bank codes and their setup information. Use this list to verify the information entered through Banks Settings.

After you enter and save bank code information, you cannot modify the bank code itself. To modify a bank code, use the bank code conversion utility (Utilities > Key Conversions > Banks).

If you have multiple companies, you must set up bank codes and electronic funds transfers for each company in your enterprise.

If you have multiple currencies, bank codes determine payment currencies for a number of transactions. When you set up a bank code, you must select an account for which you have specified a currency in Settings > Accounting > Chart of Accounts.