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Value Date:: Internal Revenue Service Taxpayer Identification Number

The document defines several key banking and accounting terms: Value date refers to the date funds from deposits are available for use or the date interest starts accruing. A BIC uniquely identifies financial institutions and includes bank and country codes. An EIN is a unique nine-digit number assigned by the IRS to US businesses for tax administration purposes. A GIIN is a number issued by the IRS to identify global intermediaries. Real and contingent suspense GLs are accounting entries for assets, liabilities, income, and expenses and contingencies. A standing instruction is a regular payment order a bank account holder sets up for another account. An IBAN uniquely identifies bank accounts internationally.

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48 views2 pages

Value Date:: Internal Revenue Service Taxpayer Identification Number

The document defines several key banking and accounting terms: Value date refers to the date funds from deposits are available for use or the date interest starts accruing. A BIC uniquely identifies financial institutions and includes bank and country codes. An EIN is a unique nine-digit number assigned by the IRS to US businesses for tax administration purposes. A GIIN is a number issued by the IRS to identify global intermediaries. Real and contingent suspense GLs are accounting entries for assets, liabilities, income, and expenses and contingencies. A standing instruction is a regular payment order a bank account holder sets up for another account. An IBAN uniquely identifies bank accounts internationally.

Uploaded by

muruganandhan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as RTF, PDF, TXT or read online on Scribd
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Value date :

Accounting: Date on which allocated, budgeted, or contracted funds are paid, received, or used.
3. Banking: (1) Date on which an account holder can use the funds from deposited checks that
have passed through the bank's clearing cycle. (2) date on which a deposit starts to earn interest.

BIC:

A bank identifier code (BIC) is a unique identifier for a specific financial institution.
A BIC is composed of a 4-character bank code, a 2-character country code, a 2-character location
code and an optional 3-character branch code.

Employer Identification No. (EIN)

The Employer Identification Number (EIN), also known as the Federal Employer
Identification Number (FEIN) or the Federal Tax Identification Number, is a unique nine-
digit number assigned by the Internal Revenue Service (IRS) to business entities operating in the
United States for the purposes of identification. When the number is used for identification rather
than employment tax reporting, it is usually referred to as a Taxpayer Identification Number
(TIN), and when used for the purposes of reporting employment taxes, it is usually referred to as
an EIN.[1] These numbers are used for tax administration and must be not used for any other
purpose. For example, the EIN should not be used in tax lien auction or sales, lotteries, etc.[2]

GIIN

Specify the global Intermediary Identification number issued to the bank by the IRS.

Real Suspense GL (Local and Foreign Currency)


The accounting entries that belong to asset, liability, income or expense GL categories will
be
passed to the ‘Real suspense GL’. To indicate the real suspense GL for a branch, click option
list and select a GL code from the option list.

Contingent Suspense GL (Local and Foreign Currency)


The accounting entries that belong to contingent asset or contingent liability GL categories
will
be posted to a ‘Contingent Suspense GL’.

Standing Instruction (SI)


A standing order (or a standing instruction) is an instruction a bank account holder
("the payer") gives to his or her bank to pay a set amount at regular intervals to
another's ("the payee's") account. The instruction is sometimes known as a banker's
order.

IBAN

The IBAN or International Bank Account Number is a unique account number that is used to
identify a customer’s account in a financial institution internationally.

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