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Set up bank accounts

  • 4 Min.

You may already have set up your company bank accounts in Business Central, but to use the many functionalities of Payment Management, the bank accounts must also be set up with Payment Management. When you do that, a corresponding bank will be created in Business Central, along with a bank system.

  • The bank card specifies the details of the communication agreement between Business Central and the bank.
  • The bank system defines how the bank data will be validated and handled when the bank data is exported from or imported into Business Central.

Bank communication types

When you set up your bank accounts with Payment Management, you can choose to send data between your bank and Business Central using either direct or manual communication. If you use direct bank communication, you can simplify the process of sending data between Business Central and your bank, and say goodbye to the manual process of importing and exporting bank files.

Note

For more details about direct and manual communication, please visit the full article at docs.continia.com.

Now, go through the assisted Bank Account Setup guide.

Set up your bank accounts

The assisted Bank Account Setup guide automatically starts after you've activated the Payment Management app. However, you can always start it manually and go through it anytime you need.

To set up your bank accounts, follow these steps:

  1. From the Role Center, select the search icon, enter Set up bank accounts, and choose the related link.
  2. In the Bank Account Setup guide, select Next to begin the setup.
  3. In the bank account overview, select the bank account you wish to set up with Payment Management.
    PM bank account setup wizard bank accounts

Note

Whether you can use direct communication depends on your bank. You can see if your bank supports direct communication here. On the webpage, simply select your country and then your bank to get the full overview.

  1. Select Next and fill in the information of your bank account on each step of the guide. The steps are different depending on your bank and the type of bank communication you choose. Hover over a field for a short description.
  2. Select Next on the last step of the guide to set up more bank accounts. Select Finish to close the assisted guide.
    PM bank account setup wizard overview

Note

Pay attention to the last step of the guide. It'll let you know if you need to, for example, contact your bank to finalize the agreement or order specific bank files. It also contains links that'll take you to more detailed overview of your banks requirements.

That's it! Right now, you can already go ahead and make your first payment run. However, we recommend you also run the Vendor Payment Setup guide to tweak the default settings and make sure the payment information is accurate.

So, now you can move on to setting up the vendor payment information.