Understanding How to Set Up Bank Account Records as SEPA Accounts

The SEPA initiative for European financial infrastructure involves creation of a zone in which all payments in euros are considered domestic. No distinction will exist between the national and international payments. To create the SEPA payment XML file in the JD Edwards EnterpriseOne system, you set up your company and supplier bank accounts with the BIC number and IBAN and specify that the account is for use for SEPA payments. When you use the Write process in the automatic payment process, the system writes records to an XML file for accounts that are set up as SEPA accounts. You then send the XML file to the bank.

Note: The JD Edwards EnterpriseOne system does not support the transmission of the XML file.

The Bank Account Information program (P0030G) works differently from the Bank Account Cross- Reference program (P0030A) when you designate bank accounts as SEPA accounts. You use the Bank Account Information program to work with your company's bank account records and use the Bank Account Cross-Reference program to work with supplier accounts.

The Bank Account Information program requires that a bank account record exist before you can designate the account as a SEPA account.

To create a record and designate a company bank account as a SEPA account:

1. Select Bank Account Information from the Automatic Payment Setup (G04411) menu.

2. Click Add on the Work With G/L Bank Accounts form.

3. Complete the required information on the Set Up G/L Bank Account form, then click OK.

   The system saves the new bank account record when you click OK.

4. Click Cancel on the Set Up G/L Bank Account form.

5. On the Work With G/L Bank Accounts form, select the record you created, then select Bank Info from the Row menu.

6. On the SEPA Account Setup form, select the SEPA Bank Account option and click OK.

To designate an existing bank account record for your company as a SEPA account:

1. Select Bank Account Information from the Automatic Payment Setup (G04411) menu.

2. Search for and select the existing record that you want to designate as a SEPA account, then select Bank Info from the Row menu.

3. On the SEPA Account Setup form, select the SEPA Bank Account option and click OK.

The Bank Account Cross-Reference program enables you to create an account and designate it as a SEPA account in the same series of steps. To create a record and designate a supplier bank account as a SEPA account:

1. Select Bank Account Cross-Reference from the Automatic Payment Setup (G04411) menu.

2. Click Add on the Work With Bank Accounts By Address form.

3. Enter the required information for the supplier bank account on the Set Up Bank Accounts By Address form and click OK.

4. On the SEPA Account Setup form, select the SEPA Bank Account option and click OK.

Note: For accounts designated as SEPA accounts, you must enter a valid IBAN in the Bank Account Cross-Reference and Bank Account Information programs. The system validates the IBAN that you enter and displays an error message in case of incorrect entry or if the IBAN field is blank.The system populates the IBAN field in the SEPA Account Setup form with the IBAN that you entered in the Bank Account Cross-Reference and Bank Account Information programs. You cannot enter or edit the IBAN in the SEPA Account Setup form. When you click the OK button on the SEPA Account Setup form, the system validates the IBAN and displays an error message in case of incorrect entry or if the IBAN field is blank.For existing bank accounts, you can use the Update Multiple Bank Accounts program (P740001) to enter or update the IBAN and BIC (SWIFT Code) for multiple bank accounts at a time. You can also use this program to designate multiple bank accounts as SEPA accounts.See "Understanding Mass Update of IBAN and BIC" in the JD Edwards EnterpriseOne Applications Localizations for European Reporting and SEPA Processing Implementation Guide.

Note: (Release 9.2 Update) To comply with the data security requirement specified by the National Automated Clearing House Association, the system now masks the bank account numbers in the Update Multiple Bank Accounts program. However, you can unmask and also update the bank account numbers for this program when required.See "Masking and Configurable Unmasking for Bank Account Numbers".

Note: (Release 9.2 Update) You can use the preconfigured personal form Set Up SEPA Bank Account to create a SEPA account with IBAN and SWIFT information.