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PURPOSE
This document contains a detailed procedure for how to set up accounting centre SSI.
WHY IS THIS IMPORTANT?
Setting up settlement instructions is important to properly configure bank accounts of entities and counterparties for settlement purposes.
PROCEDURE
1. From the menu, click Set Up > Static > Settlement Instructions.
2. Click New SSI. The New Accounting Centre SSI will be displayed.
3. Specify the entity for which you want to create the settlement instructions.
4. Select the currency (Ccy).
5. Enter the preferred short name. It is recommended that the name be the bank’s name and the last three digits of the account number. Name must be unique.
6. Choose the ID of the bank in the Counterparty Id field.
7. Put in the account number.
8. The Show Advance button is optional. It expands the screen to show more fields to fill out.
9. Fill out the additional fields, if needed. The information entered for the beneficiary’s bank name and account number are used in the confirmation letter or settlement letter sent to the banks.
10. You may enter any e-banking codes in the EBAddress field. This information will also appear in the confirmation or settlement letter.
11. Auto Balance Update option is No by default. If this is set to No, you will be able to update the actual cash balance in the Cash Management > Actual Cash screen. If you do not wish to allow anyone to edit the actual cash balance as it will be automatically update from MT940, set this to Yes.
12. Click Save to complete the set up.
13. On the Accounting Centre SSI screen, click on the box on the left of the set up SSI.
14. Click Approve. The settlement instructions are now set and approved.
FREQUENTLY ASKED QUESTIONS
FAQ01. I cannot create a new SSI.
Access rights are required to create a new SSI. Please speak to your administrator to grant you rights 10721 to Create Accounting Centre SSI (basic), and 10718 for Create Accounting Centre SSI (advance).
FAQ02. Is there any standard for creating SSI?
Please refer to FAQ on the standard settlement instructions.
RELATED INFORMATION
Assign Accounting Centre SSI to Groups
CHANGE HISTORY
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