Create SEPA payment

  • 24/11/2024
  • 4 minutes to read

When you need to make payments across countries in Europe, you can use SEPA as a payment method. The SEPA agreement covers all 28 EU member states as well as Andorra, Iceland, Lichtenstein, Monaco, Norway, San Marino and Switzerland. With SEPA payment, all EU countries are guaranteed the same terms, rights and conditions in connection with payment.

A SEPA payment is, in short, an account to account transfer, including a notification. On this page you will find a guide on how to use SEPA as a payment method for your payments to a European vendor.

How to create a SEPA payment

1. Enter vendor payment method SEPA

  1. Select the icon Søg efter side eller rapport or enter Ctrl-F3, enter Vendors,and select the related link.
  2. Select the vendor, and then the function Payment Information.
  3. In Vendor Payment Information, in the field Payment Method select an SEPA-based payment method, for example 1152000.
  4. Select the function Bank and open the bank account you want to create the transfer to.
  5. In Transfer fill in the fields IBAN and SWIFT Code.
  6. Some banks also require country code filled in. The field Country/Region Code can be found under General.
  7. Select OK to close the window.

2. Enter SWIFT and IBAN on your own bank accounts

  1. Select the icon Søg efter side eller rapport or enter Ctrl-F3, enter Bank Accounts, and select the related link.
  2. Select the bank account to be paid from. If you have not yet set up a bank and bank account, you can take advantage of the two guides Create a bank card and Create a bank account.
  3. In Transfer, enter IBAN and SWIFT Code.
  4. Select OK to close the window.

3. Create purchase invoice

  1. Create a purchase invoice and enter vendors invoice number (OCR).
  2. On the purchase invoice, select the function Payment Information.
  3. Verify that Payment Information is generated correctly, according to the selected payment method.
  4. Select OK to close the window.

4. Create a payment file and send it to the bank

  1. Select the icon Søg efter side eller rapport, type in Payment Journal Payment Management, and select the related link.
  2. In the payment journal, select the function Suggest Vendor Payments, to create vendor payment entries in the journal. Filter if necessary to the individual vendor.
  3. Select the function Payment Overview, which shows the detailed payment information.
  4. Approve and send the payment to the bank if you use direct communication, or export the payment file and import it in your bank, if you use manual communication.