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Direct debits

1 minutes

SEPA, which stands for "Single Euro Payments Area", is a single euro payments area designed to simplify bank transfers and direct debit payments and make them as secure as national payments.

Thanks to a single BIC and IBAN, individuals and companies can now make credit transfers and direct debits in France and in SEPA member countries in a harmonized way between two accounts opened in SEPA banks, and under the same conditions of pricing, processing time, quality and security.

SEPA direct debits are based on a single "mandate" given by the debtor to the creditor, authorizing debit of the designated account. The creditor holds and retains the mandate. The creditor must inform the debtor in advance of the amounts and debit dates associated with the invoice.

And in KAFINEA? #

Since SEPA mandate and direct debit orders must be transmitted by sending an XML file to the bank, KAFINEA offers a file that meets the requirements of the established standard: ISO 20022 XML.

The SEPA mandate #

To create a SEPA mandate, go to Finance > SEPA Mandates.

The form allows you to select the debtor and the corresponding bank account. On registration, a unique mandate reference is generated.

You can download the corresponding PDF file and send it to your creditor.

SEPA direct debit #

To create a direct debit, this function can be accessed from Finance > Direct debits.

It's very easy to set up, all you have to do is enter a collection date and a reference number, and KAFINEA will take care of the rest:

At sampling registration,

  1. Basic information about your company is filled in automatically:
    • Transmitter
    • Creditor identifier
    • BIC
    • IBAN
  2. All customer invoices eligible for payment are detected, and the payment corresponding to the balance of each invoice is created and attached to the direct debit you've just created.
  3. The invoices concerned are automatically finalized.
  4. The total direct debit amount is calculated, corresponding to the sum of the payments created.
  5. A set of accounting entries is created between the bank account assigned to the 'direct debit' payment method and the various accounts of the third parties subject to the direct debit.

The file to send to your bank is available by clicking on SEPA Export among the contextual buttons. The file is automatically downloaded, ready to be sent.

Important: Eligible invoice must meet the following criteria:

- Open

- In 'To be collected' status