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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.
With a single BIC and IBAN, individuals and businesses can make transfers and direct debits within France and among SEPA member countries in a standardized manner between two accounts held at banks within the SEPA area, under the same conditions regarding fees, processing times, quality, and security.
The SEPA direct debit is based on a single "mandate" issued by the debtor to the creditor, authorizing the debit of the designated account. The creditor holds and retains the mandate. The creditor must first inform the debtor of the amounts and dates of the direct debits 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 direct debit, 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 set up a direct debit, this feature is available under 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,
- Basic information about your company is filled in automatically: Issuer, Creditor ID, BIC, IBAN. All customer invoices eligible for payment are detected, and a payment corresponding to the balance of each invoice created and linked to the direct debit you just created.- The relevant invoices are automatically finalized. - The total amount of the direct debit is calculated, corresponding to the sum of the payments created. - A set of journal entries is created between the bank account assigned to the “direct debit” payment method and the various third-party accounts subject to the direct debit.
The file to send to your bank is available by clicking on Export SEPA among the context buttons. The file is downloaded automatically, ready to be sent.
Important: An invoice meets the following criteria:
Not on sale
Status: ‘To be collected’