When any bank information on a supplier account is changed, it is best practice for a different user reviews the changes and approves them before the supplier can be paid; this is also known as the four eyed principle. The fields considered bank information are:
- Bank Account
- Bank Account 2
- Bank ID
- Bank ID 2
- BIC
- BIC 2
- IBAN
- IBAN 2
To enforce this requirement in the software:
- In the Accounts Payable Configuration window, check the Supplier Bank Account Approval Enabled checkbox (AP 310). If you do not see this field, you may need to add it to your layout.
- Add the Allow Update of Payable Demographics access privilege to the roles of users who should approve this change. Note that no user can approve their own changes, regardless of access privilege.
To approve bank information changes:
- Navigate to the Accounts | Supplier page and select the account to update.
- On the account, click View > A/P Demographics.
- Confirm the bank information is correct.
- Update the Bank Info Status field to Approved.
- Click OK.
The user who reviewed the information will be logged in the Reviewed By field and when the status was updated will be logged in the Reviewed On field.
You may filter the list of accounts on the Accounts | Supplier page by the Bank Info Status, allowing you to see any accounts which need to be reviewed. You may need to edit the page layout to add this filter field.
To see when bank information was changed, who changed it, who reviewed the changes and when they were reviewed, as well as the current bank info status of supplier accounts, add these columns to the Accounts | Supplier page:
- Bank Info Status - AP Demographics
- Bank Info Change By - AP Demographics
- Bank Info Changed On - AP Demographics
- Reviewed By - AP Demographics
- Reviewed On - AP Demographics
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