Verify bank account details
- 3 min.
In the payment journal, you have a complete overview of the verification details for each bank account you're making payments to, both on the payment journal line and in the Recipient Bank Details FactBox.
Note
If you are using payment approval workflows in combination with bank account verification, the approver has the same details available on the Payment Approval Entries page as well.
If you attempt to make payments to an unverified account in the payment journal, you are notified and advised to have the account verified before you make any payments to it. You can also decide to carry on and make the payment to the unverified account anyway. This is, however, only possible if the Block Payment Export toggle is turned off in the setup.
Changes made to the following fields trigger the notification and change the status of the bank account from Verified to Pending Verification.
- Bank Branch No.
- Bank Account No.
- IBAN
- Swift Code
- Transit No.
- Bank Clearing Code
Verify bank account from the payment journal
You verify bank account details from the bank account card accessible from the payment journal. In the Recipient Bank Details FactBox, simply select the bank account link.
Then, on the bank account card, in the action bar, select Verify Bank Account and specify the verification method and any relevant comments. Note that, unless it has been set up specifically, you are unable to verify any changes to bank account details that you have made yourself.
Tip
You can also verify bank accounts from the Vendor Bank Account card, Customer Bank Account card, or Employee card. The process is exactly the same.
Scenario
In the following video, you'll follow our bookkeeper Lina as she creates payment suggestions in the payment journal with bank account verification enabled. Approval workflows have also been enabled so before she can send the payments to the bank, she must ensure all bank account details are first verified and the payment lines approved.
Other resources
- Bank Account Verification (article on Continia Docs)