Understanding International Payment Instructions

You use international payment instructions (IPIs) for cross-border invoice settlements. When you originate invoices in the JD Edwards EnterpriseOne Accounts Receivable system, you can select to print invoices with an attached IPI form. To print invoices with attached IPI forms, you must use preformatted invoices that contain the IPI form. The system processes and formats data from JD Edwards EnterpriseOne tables, and prints the information in the appropriate places on the IPI form.

IPIs must be printed in English, but they can also contain a second language. Some countries require that you print IPI forms with a secondary language; for some countries, the use of a secondary language is optional. The European Committee for Banking Standards publishes the requirements for IPIs. You specify the secondary language by choosing a value in the IPI - Languages and Countries UDC table (00/IL).

The IPI form contains these four sections:

• Ordering Customer

  This section contains the name, address, and account number of the customer. The system uses the name, address, and account number (CBNK) that are associated with the invoice to which the IPI is attached. The customer sends the IPI to the bank for processing, and the bank credits the account with the specified amount.

• Beneficiary

  This section contains the company name and the bank name and account number that you specify in processing options.

• Amount to be paid

  This section contains the amount and currency of the transaction, as well as a code to indicate who is responsible for paying the bank fees that are associated with the transaction. You specify the code for the bank fees in a processing option; the system uses the amount and currency from the transaction.

• Signature

  The system does not print the signature.