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Problem(s):
Certain libraries need to store bank account information in the ILS itself rather than in external accounts payable systems. This information is highly sensitive and should only be accessible by specifically authorized persons. Banking info will need to be transmitted to third-party accounts payable systems.
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| Requirement | Status | Use Cases | ||||||||
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| (SAMPLE) Library must be able to store bank name, bank account number and routing number in a manner accessible to the Organization Organization record with type "Vendor" can hold vendor banking data in a specific area of the record |
| When a user creates a new Organization of type Vendor, that user should be able to enter bank-specific information in a protected area of the record.. | ||||||||
Banking data in organization record includes the following fields
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| Bank information must include the following details
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| Banking information can include multiple banking data. One of those Banking data can be identified as primary. Primary is used by AP system for payment and can be used to represent a broker's banking information. |
| For international vendors, the Bank information includes CONVERA account details because that is who LC will actually send money to. However, it is important that we also capture the bank information, IBAN and SWIFT codes for the vendor to complete the payment and display on invoice etc. | ||||||||
| Banking data can reference a specific vendor address. The address details are stored with banking data so it is easy to retrieve. |
| For each vendor, the bank information must be associated with a specific vendor address. Adress Address data (Remittance address) is generally used as validation during the payment process and can cause payments to be rejected if inaccurate. Not all banks have this requirement but some still do. | ||||||||
Bank information must beis stored in a way that only users with Organizations: View Bank information are able to view. Bank information is stored in a way that only authorized persons can view itusers with Organizations: View and edit Bank information are able to view and edit. |
| Librarian 1 is authorized to view and edit banking information and has unfettered access. Librarian 2 is able to view vendor information in general, but is not allowed to view banking information and therefore has no access. Ideally, there will be no indication to an unauthorized user that banking information is stored. This information is delicate and some users would need to be able to see bank information in order to do troubleshooting. Only specific users would be able to edit the information. Eg. invoice approvers may need to see the bank data and verify but only the section manager might need to updated it. Also note inspector general requires that one user is not able to update vendor info, approve orders AND approve invoices. Librarians running reports and queries who do not expressly have access to banking information should not be able to query or view banking information. Currently, users in Voyager are either able to edit the organization detail or not (no partial edit). There is a view-only that allows a user to see all vendor details (Including banking info). | ||||||||
| Bank information must be available for output by authorized persons or to authorized systemsUser is able to search Organizations by Bank account number |
| Organizations paid through a broker will all contain the bank information of that broker so the payment can be made to the broker rather than the organization. Eg. over 100 organizations will be paid through CONVERA. | ||||||||
Users should be able to view Bank details when approving invoices. If the user is able to view invoices they ARE NOT always able to view bank information. Not able to edit bank information from invoice Details that should be visible would be:
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| Bank information must be available via API with organization data | The external Accounts Payable system relies on banking information stored in FOLIO rather than having it stored in the AP system. Banking information needs to be output to the AP system. | |||||||||
| Bank information must be secured |
| Banking information is sensitive and requires proper security measures | Bank information must be capable of handling international banks |
Questions:
| Question | Status | Conclusion | Comments | |||||||||||
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| What fields are required? |
| See details above | Account, routing, | How is the data to be secured? | | Status | | ||||||||
| colour | Blue | title | OpenBank info||||||||||||
| Are there other regulatory or compliance standards involved? |
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