You are creating a supplier bank account. Which one of the following types of bank account do you need to create that?

In Infor M3, bank accounts are categorized using a specific type code to ensure proper financial transaction processing. When creating a bank account for a supplier, the designated 'Bank account type' is '3'. This classification is crucial for the Accounts Payable (AP) module to correctly identify and use this account for processing supplier payments. Using the correct type ensures that payment proposals and electronic fund transfers (EFTs) are routed to the supplier's bank details as defined in the system. This setup is managed within the 'Bank Account. Open' (CRS070) program.

A. Bank account type 2 is used exclusively for customer bank accounts, typically for direct debit agreements.

C. Bank account type 4 is reserved for bank accounts belonging to factoring companies.

D. Bank account type 1 is used to define the company's own internal bank accounts.

1. Infor M3 Cloud Edition Online Help: In the documentation for the program 'Bank Account. Open' (CRS070), the field 'Bank account type' (BKTP) explicitly defines the valid alternatives. The help text specifies: "3=Supplier bank account". This is the primary master data setup for supplier payment information.

2. Infor M3 Finance Management Implementation Guide: In the section covering Accounts Payable setup and supplier master data configuration, the guide details the process of creating supplier records. It mandates the use of Bank Account Type '3' in CRS070 when linking a bank account to a supplier (CRS624) for payment purposes. (Refer to sections on Supplier Master Data and Payment Processing).