Updating company bank account

[jehret]

Company changed bank accounts.  How do I update the bank account to reflect the updated account?  

[Munari_alEXPert]

dear @jehret.

Are you the administrator of the Concur system within your Company? You mean that the disbursement account from the company is changing?

I have been involved in a few implementation, but for this I guess you would need to re-issue a link and permission between your bank and Concur for direct debit. It is not a simple task with just adding a bank account on the system and there will be need some testing to verify is working properly. The same if the account is dealing also with credit card payment. 

Or if something had changed in the last few years that it something can be done immediately, I would be happy to hear.

[jehret]

Yes  I am an admin in the Concur system.  Do you know how I would re-issue a link and permission?

[Munari_alEXPert]

As I did that for EMEA region without having ConcurPay, maybe different in US, but I would contact Concur and ask to assign a person for this project OR @KevinD the Community manager on this forum who may have a better view within your region. It should take no long, but there should be some testing to be done.  

[jehret]

Thank you!

[KevinD]

@jehret Are you using our Expense Pay (a.k.a Concur Pay) feature to reimburse employees? I just want to be clear on how to assist you. I'll await your reply. 

[KevinD · Accepted solution]

@jehret I looked up your company and went into your site. Are you familiar with the Payment Manager screen found under Administration>Company>Tools? On this screen you will see a tab labeled Funding Accounts. This is where you will add the new account using the New Global Account button. You are going to see a lot of funding accounts on this screen. That is because your company is using different accounts to for different countries. Also, funding accounts cannot be deleted, so if you are updating an account, let's say for the U.S., then on the Batch Definitions tab, you find the appropriate batch from the Employee Batch Definitions list. Click on it, then click Modify. You will see Live Funding Account (the one currently being used) and Available Funding Accounts. The new account you added should be listed there. You will need to select the new account, then click Replace Funding Account. I believe you might have to wait for the new account to get confirmed before it will show up as Available. I'm not 100% sure on this, but just as something that could happen.

Also, before doing any changes with adding accounts, I would double-check with someone else at your company. Were you involved in setting up all the existing funding accounts? This is a pretty major update to make and could really cause some issues if it isn't done correctly. My advice is to always double-check with someone before making any changes. 

Let me know if you have any questions or concerns.