Partners and accounts

The banking team needs a reliable list of organizations, counterparties and accounts before it prepares an instruction. Business Partners records banks, custodians and settlement counterparties, including eligibility notes and an active flag. Ledger Accounts records provider-held accounts, their external identifiers, provider, currency and owner. Those records give a preparer a specific destination and a reviewer a way to check it.

Organization membership ties a team member to a user, role and time zone. This is the boundary for assigning an instruction and for independent review. Exchange Rates holds effective rates as read-only reference data; it does not turn a banking instruction into a currency conversion on its own.

• Eligible counterparties. Keep the partner code and eligibility note current before it is used on a document.
• Recognizable accounts. Retain the provider’s external account identifier alongside the internal account code.
• Scoped membership. Review active team membership for each organization before granting access to instructions.

Agree who maintains counterparties, how eligibility is checked, how an account becomes inactive, and how provider identifiers are verified against external records. Define the currency and time zone for each organization. Import the people who prepare and review work only after their user accounts and organizational scope are clear.

An administrator registers a new custodian and records its eligibility note. The provider issues an account identifier, which the team checks against the account record owned by that custodian. A preparer later selects the custodian as counterparty on an instruction, then selects the relevant provider-held account on its debit or credit line. During review, the approver checks both records and the instruction’s amount. If the account is inactive or the partner is no longer eligible, the team resolves that master data before submission.

A different team member can later mark the partner inactive when its eligibility changes. That change should prompt a check of instructions still in review and of accounts owned by the partner. Keep the external account identifier on the account record so the reviewer can compare it with the provider notice; the partner name alone does not identify the account. For the pilot, choose a custodian with two accounts and verify that the preparer selects the intended one. The App Administrator maintains the organization, partner and membership records, while the provider account register needs an agreed maintainer during setup.

• Eligible counterparties — Check active partners, their organization and eligibility notes before selecting one.
• Authorized instructions — Review which counterparty and organization an approved instruction names.

• Instruction approval: Follow the decision and evidence through this work.

Check the data model before importing records.