Overview
Financial Institutions are institutions which provide financial services. Banks are one of the most known financial institutions. In the FreeBalance Accountability Platform, Financial Institutions are used in the Treasury and Human Resources modules. For example: During the Payroll payment, Banks are used to transfer money to the employees. The FreeBalance Accountability Platform also allows associating each Financial Institution with its Vendor, keeping integration across the system modules.
This option allows managing information about each Financial Institution such as Code, Swift Code, Name, Vendor, Offset Code, List of Addresses, and a List of Institution Branches.
Navigation
Admin ► Common Entities ► Banking Information ► Financial Institution
Financial Institution screen Fields and Tabs
Field | Description |
Code | User unique identification code of a financial institution. |
Swift Code | A swift code unique to a financial institution. |
Contact | One or more contacts of the financial institution are added in this field. |
Vendor | Vendor relating to the Financial Institution is selected from this field. |
| Financial Institution Type | Select using the drop-down menu the financial institutional type. Select using the drop-down menu the financial institutional type. |
Bank Account | Bank Account for Financial Institution is added from this field. |
| Bank Account Foreign | Foreign Bank Account for Financial Institution is added from this field. |
Name | Name of the financial institution. |
Address tab | Address of the financial institution is added from this tab. |
Financial Institution Branch tab | Branch office of the financial institution is added from this tab. |
Overview
Information of Address of Financial Institution gets recorded from this tab.
Address Tab screen Fields
Field | Description |
Is Main | This field indicates whether the address to be mentioned is the main address or not. |
Region | Region where the Address is located is mentioned in this field. |
| Country | User selects the Country from the drop-down menu. |
Address Type | Whether the address specified is the office or home address or it is unknown is mentioned in this field. |
Address | The address of the Financial Institution as mentioned in this field. |
Zip Code | The zip code of the address is mentioned in this field. |
Overview
Information for branch/es of financial institution is kept into record from this tab.
Financial Institution Branch screen fields
Field | Description |
Code | Unique identification code of the Financial Institution branch. |
Active | Whether the branch mentioned in this field is for use or only for reference purpose, is specified in this field. |
Contact | Contact details of the branch of the financial institution is specified in this field. |
Address | Address of the branch of a financial institution is mentioned in this field. |
Name | The name of the branch is mentioned in this field. |
Branch Location | This field indicates whether the branch is located "In Country" or "Outside Country". |
| Branch BSRTN | This Code is used to interface with a corporation. |