Initial Setup Before You Can Make Vendor Payments for SEPA EFTs

If you pay vendors via SEPA EFTs, review the settings that you must complete for banks, vendors, the vendor payment template, and automatic payment numbering.

Location in Vantagepoint	Setting
Settings > Cash Management > Banks	For banks that you use to make SEPA payments to vendors: On the Options tab: Set the Export to Text Format field to SEPA. On the SEPA File Format tab: Enter information for the SEPA-formatted file that is generated when you process SEPA payments in Vendor Payments. You must enter the IBAN and BIC numbers.
Hubs > Firms	For the vendor-type firms that will receive SEPA payments: In the Banking Information section of the Vendor tab: Click beside the Electronic Payment Method field. On the Electronic Payment Method dialog box that displays: Select SEPA. Enter the IBAN and BIC numbers. Select whether to print or email remittance advices for payments to the vendor.
Settings > Cash Management > Accounts Payable	On the Payments tab, the format that you select in the Printed Payment Format field and the template that you enter in the Template field control what the vendor payments look like when you print any type of vendor payment using the Print Payments or Other Actions > Print File Copy actions on the Payments grid on the Printing and Numbering page in Vendor Payments. The printed payments for SEPA EFTs have "NON-NEGOTIABLE" printed on them. The file copies have "COPY" printed on them.
Settings > Accounting > Transactions	In the Bank Transactions section, you can specify that the payment transactions for a bank be automatically numbered and enter a starting number to use for the next payments that are processed. You specify whether the auto numbering applies for all types of payments or only electronic payments. When auto numbering is not turned on, you assign a starting number for each bank's payments in a vendor payment run by clicking Assign Numbers on the Printing and Numbering page in Vendor Payments.

Making Vendor Payments with SEPA EFTs

For links to all related procedures for making these vendor payments, see How to Pay Vendors with SEPA EFTs, in the Cash Management section of the help.