Cause:
System shows error ‘Invalid bank account!’ Or ‘Invalid IFSC code!’ while confirming the payment entry when the payment is done by electronic transfer. And for electronic payment mode IFSC code or bank account are not specified (are null) for the corresponding sundry master.
Remedies:
Note that the Account is bank specified, the IFSC is branch specified. Every Branch will have one IFS Code. Users should ensure that electronic payments are done with the bank account and IFSC specifications. IFSC code denotes a particular branch and must be correct for transfer to take place.Using IFSC code, the payment is routed to the respective Bank, which is then directly routed to the beneficiary account no., since account no. is unique across a particular Bank. Hence IFSC code or bank code should not be null or incorrect.