Changing a company's bank details involves updating the account information used for financial transactions, such as payroll and vendor payments.
Whenever the company changes its banking arrangements whether switching banks or updating account information, make sure to follow the appropriate steps to update the details.
📌Note: If you use Back Office, follow these steps.
To change a company's bank details, follow the steps below.
From the dashboard menu, select Payroll Dashboard.
Click Settings.
Under Company Parameters, click General Settings
From the Company Code drop-down menu, select the relevant company code,
Under the Banking Details section, update the bank details.
Click Save.
📌Note: If you get a message advising 'Location must be entered' you need to go to page 3 and complete details within Employer NI Codes & Employer Pension Codes - Cost Centre, Location, and Expense are mandatory fields.