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You can configure the virtual accounts for the main account and assign the accounts to the clients.
The key details in virtual account are:
1. Navigate to Sub Accounts.
2. Click Virtual Account Maintenance. The Virtual Account Maintenance page is displayed.
3. Click Add Virtual Account to create. Specify the following details for virtual accounts:
• Search and select the Company Name for which you want to define the virtual accounts.
If you have logged in as bank
admin, select the client from the list.
• Virtual Account Category: Select the relevant options for the category of the users to assign the virtual accounts. The available options are:
– Company
– Subsidiary
– Customer
– Aggregator
• Issuance Number is auto generated and displayed.
• Search and select the Client Credit Account Number.
• Select the Client Constant. The selected client constant is the pre-fix for the virtual account numbers.
• When the client constant is selected, the Available Length is auto displayed. Available length is the length of the virtual account displayed to the client.
• Specify the Total Count of the Virtual Account Number to be assigned to the client.
• Specify the Start Number of the virtual account. The End Number of the virtual account is auto displayed based on the total count of the virtual accounts.
The sample of the Virtual Account is
displayed in the Sample Start Number.
4. Click Generate to generate the virtual account. All the generated virtual accounts are displayed.
You can assign the virtual accounts to the required parties.
5. Click Select dropdown for the required virtual account and then click Modify Record. Virtual Account Maintenance popup window is displayed.
You can Enable or Suspend the account/s.
6. Specify the following virtual account assigning details:
• Virtual Account Number is auto displayed.
• Specify the Name for the Virtual Account.
• Search and select the required Party Code to assign the virtual account. Based on the virtual account category, the following options are displayed in the party code:
– If virtual account category is selected as Customer, the search list displays the list of the registered payers.
– If virtual account category is selected as Aggregator, the search list displays the list of client codes.
– If virtual account category is selected as Subsidiary, the search list displays the list of subsidiaries for the selected company.
– If virtual account category is selected as Company, the company name is auto displayed.
The values displayed in the Party
Code are based on the Virtual
Account Category selected while creating the Virtual Accounts.
• Specify the Unique ID and Reference.
• Specify Additional Info 1 to 5.
• You can assign all the required accounts to the parties. Click Update to navigate to Add Virtual Account page.
The Import Virtual Account option enables you to import the details required for virtual account maintenance. This option is enabled after clicking Generate.
7. Click Import Virtual Account to import the virtual account assignment details using file upload functionality.
• Select the required File Format Type. File format of type virtual account is displayed.
• Choose File: Select a file from your network, using the Choose File option. If you are specifying the name of the file, specify the absolute path.
8. Click Import.
9. Click Verify to verify the specified details.
10. Click Submit.
· You can import virtual accounts using File Upload. The virtual accounts are listed on the Virtual Accounts Maintenance summary page in draft mode.
· The virtual accounts created can be used as actual account. Approach your bank for the same.
· All setups in Fusion Cash Management must be approved. For more details about approval, see Additional actions on setup.
Where to go from here
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