Question

Supplier Payment Formats basic data - Country specific formats

  • 23 November 2021
  • 1 reply
  • 21 views

Userlevel 5
Badge +5

Hello,

Hope this message finds y’all well.

 

Does anyone know if there is a document with the basic data configuration according to the payment formats? Payment formats differ from country to country, e.g. UK - BACS, US - ACH.

 

Is there a document with the basic data setup at the suppliers for the ISO20022 format?

 

Thanks in advance


1 reply

Userlevel 6
Badge +11

Hi, 

For ISO20022 IFS created very good help for this.  My suggestion would be enable the format, and go to a supplier - add the payment method then see the electronic payment address. 

Then see the help and choose to show all attributes. 

This is just a sample of the help. 

Payment Method:
The method(s) by which payments are to be made to the supplier. The specified payment method(s) will be available as selection terms when loading payment proposals and creating payment orders.

Default Address
Checked box means this payment address is the default address for the payment method. The address id can be changed at the time of payment.

Blocked For Use
Select this check box if you want to block the electronic payment Address ID connected to the payment method. 

Payment Transfer Method:
Select the means of payment that will be used to create the payment transaction(s). Following values are allowed.
CHK    : Check
TRF    : Credit Transfer
This value is mapped to <PmtMtd> XML tag in ISO20022 XML file.

Charge Bearer:
Select which party/parties will bear the charges associated with the processing of the payment transaction. Available values are as follows.
CRED - Borne By Creditor                                                                                                                                                                                                                                   
DEBT - Borne By Debtor                                                                                                                                                                                                                                         
SHAR - Shared by Debtor and Creditor                                                                                                                                                                                                                     
SLEV - Borne as per the Service Level agreement                                                                                                                                                                                            

This value is mapped to <ChrgBr> XML tag in ISO20022 XML file.

High Priority payment
If this check box is selected, the urgency and importance of the payment instruction will be considered as High (HIGH) by the debtor's bank. If the check box is not selected, priority of the payment instruction will be set as Normal (NORM). This value is mapped to <InstrPrty> XML tag in ISO20022 XML file. 

Code:
Agreement or rules according to which the payment transaction must be processed.  A code from the external code list, published by ISO20022 standard should be used. The appropriate value can be selected from List of Values (from External Payment Codes). 
This value is mapped to <SvcLvl>/<Cd> XML tag in ISO20022 XML file.
 

Help has far more information. 

Best regards. 

Thomas

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