Define Bank Identifier Codes for Employee Payment

Explanation

This activity is used to define the bank identifier codes (BIC's) for banks in different countries. The BIC is required to be an alphanumerical value of a length of 8 or 11 characters. The country of the bank is indicated in the BIC by specifying the ISO country code in the position of the 5th and 6th characters.

Bank identifier codes can be defined for all banks that will be used for transactions in employee payments.

Prerequisites

There are no prerequisites

System Effects

• The BIC of the employee's bank can be assigned to the employee in Employee Files/Employment/Info 2 tab.
• In the Employee Payment Methods window, the BIC of the company's bank can be specified for each employee payment method.

Window

Bank Identifier Codes

Related Window Descriptions

Bank Identifier Codes

Procedure

1. Open the Bank Identifier Codes window.
2. Click New and enter the bank identifier code in the BIC/SWIFT Code field.
3. You can enter the description of the bank identifier code and the city of the bank in the Description and City fields respectively.