Oracle Fusion Cash Management – Bank Setup

This tutorial deals with Banking configuration and contains the following:

  1. Bank, Branch, and Account Component
  2. Creating Banks
  3. Creating Branches
  4. Creating Accounts
Bank, Branch, and Account Components

In oracle fusion Banks, branches, and accounts work together to support the real world bank account model. Organization will leverage the model to define and keep track of all bank accounts in one place. In addition, oracle fusion enables the organization to grant bank account access to:

  • multiple business unit
  • multiple business functions
  • multiple users

The above model and functionalities would be leverage by the organization to eliminate the redundant duplicate bank accounts assigned to different business units, when different business units are sharing the same bank accounts.

Creating Banks

Once the organization enterprise structure is ready, the banks and respective accounts can be created. You will define the internal bank account details for your organization and depends on the business functions enabled, these bank accounts are debited when payments are made to the third parties and credited when payments are received from the third parties, on behalf of the organization.

To create banks, navigate to Setup and Maintenance in the FSM and search for Manage Banks

1

Click on Manage Banks setup task to open the Bank page

2

Click on Actions drop-down and click on Create Bank to create a new bank for your organization

4

Enter the Bank details for your bank with Country and bank name is the required field.  Enter the other fields as per your requirements.

Addresses and Contacts are optional. will create as per the organization requirements.

8

Click on Save and Close to complete the Bank creation process.

5

Create Bank Branch

Once the bank setup is complete in above step, click on Create Branch button to create the respective bank branches. Alternatively, navigate to Setup and Maintenance in the FSM and search for Manage Bank Branches.

Now, highlight the bank row for which you need to create branches and click on Create Branch button to open the bank branch creation setup page.

6

The Bank branch setup page will open with Bank and Country defaulted from the Bank.

Enter the Bank Branch detail with Branch name and Routing number is the required field and enter other information as per organization requirements. And, define branch addresses and contacts as needed.

9

Click on Save and Close to complete the Bank branch creation. You will add more branches by repeating the same steps again.

Create Bank Account

Once the bank branch setup is complete in above step, click on Create Account button to create the respective bank accounts. Alternatively, navigate to Setup and Maintenance in the FSM and search for Manage Bank Accounts.

Now, highlight the bank branch row for which you need to create accounts and click on Create Account button to open the Bank Account creation setup page.

10

The Bank account setup page will open with Bank and Bank Branch defaulted from the Bank branch setup.

Enter the Bank Account details and,

  • associate it with Legal Entity
  • mention the account type
  • Mention the Account use by checking the required business functions

In General Tab, enters the Cash account assign to this specific bank account, that is used in all the financial transactions.

13

Click on Business Unit Access tab to assign Bank account to one or many business units that are authorized to use this bank account or cash account for financial transaction purpose.

Click on Actions > Create to assign business unit/s to the bank account.

11

Assign the business unit intended to use this bank account. The cash account will default from the General tab.

In bottom of page, under Payment document categories by payment method section you will add or assign the Payment method and payment document category used by this bank account when making payments to creditors.

Click on OK to complete the bank account business unit access setup

12

Click on Save and Close to complete the bank account setup.

The above activity will complete your bank setup and organization will use particular bank and bank account in their transactions.

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