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Reply from Kalsandor on Aug 7 at 6:39 PM As a precaution, make sure your processes identify when each of the various affiliated accounts are to be used. Some type of internal control is recommended if these accounts are handled by multiple users. You want to consider read only users versus those with change authority and also you may want to use different types of doc types to help insure consistency of items posted to each of the accounts. Using fewer accounts may increase the time for reconciliation but has less complexity when multiple banks are used.
| | | ---------------Original Message---------------
From: Suvo Kol
Sent: Friday, August 03, 2012 1:32 PM
Subject: Bank Integration
Hi,
I want to know what are the critical points while configuring banks. Do we usually create too many accounts like chq recvd, chq issues, wire outgoing,incoming? Also where do we configure the micr codes etc. Appreciate a little help in this,preferably from Indian banking scenario.
Best regards
Subhadeep |
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