What should I fill in under IBAN?

Written by Marcel Thijssen on . Posted in Exact Globe

When you create a new debtor or creditor, you can enter the IBAN (International Bank Account Number) and BIC code. But what should it actually contain? From product update 405 of Exact Globe Next, it is possible to work with a new setting that ensures that the above-mentioned fields are automatically completed on the basis of the bank account number and bank name.

Step 1: Setting Calculate IBAN automatically
In order to use the automatic calculation of the IBAN, a new bank setting has been added. This setting can be found via menu [System, General, Settings, Bank settings].

If you check the new setting ‘Automatic: IBAN Calculation’, a disclaimer will appear of which you will need to accept the conditions for automatic calculation of the IBAN. You can accept this by clicking ‘Accept’ in the disclaimer screen. After accepting, the new setting will be checked. If you then close and reopen the company, the IBAN will automatically be calculated on the basis of the bank account number and bank name while changing existing bank accounts or creating new bank accounts. This automatic calculation only applies while creating or changing the bank accounts.

Soon, the Support Blog will feature an article about adding the IBAN to existing bank accounts.

Step 2: Filling in a bank account
Before you enter the bank account, it is good to know that some changes (from product update 405) have been made in the maintenance of the bank accounts (of your accounts). The following now applies:

  • The field ‘Bank name’ has been moved from the ‘Address’ tab to the ‘Basic’ tab.
  • For bank accounts from the Netherlands, Belgium, Austria, Germany, Spain, France and Italy, a browsing icon has been added for the field ‘Bank name’ that you can use to select the relevant bank.
  • The field ‘Bank’ on the ‘Basic’ tab has been renamed to ‘Bank code’.

The field ‘Bank name’ now has a magnifier icon for bank accounts of the types NL, BE, AT, DE, ES, FR and IT. Using this icon, you can select the bank name that belongs to the relevant bank account. The system automatically fills in the fields ‘IBAN’, ‘BIC code’, ‘SWIFT address’ and ‘Bank code’ on the basis of the account you entered for the field ‘number’ and the bank name you have selected. For other conditions, please consult our help documentation.

While calculating IBAN, the following disclaimer notification will be shown: “IBAN values are calculated in accordance with European banking standards. Licensee is responsible to check whether the result of the IBAN values generated by the automatic calculation are correct and Licensee is solely responsible for the validation of the calculation and/or the results. Exact is not liable for the correctness of the calculation and/or the results. If so desired, you can check the ‘don’t ask again’ option so the notification will not appear anymore.

 

 

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